VIJAY GUPTA Vs. RENU MALHOTRA

JUDGEMENT

(1.) BY this order, the objection raised by the counsel for the judgment debtor with regard to the maintainability of the present execution petition in this Court on the ground of lack of pecuniary jurisdiction is being decided.

(2.) THE genesis of the dispute subjection matter of the present petition, arose in the year 1998, when the decree holder filed a petition under Section 11 of the Arbitration and Conciliation Act, 1996 (for short 'the act') before this Court in December, 1998, seeking appointment of an Arbitrator. For the purpose of jurisdiction and valuation, the decree holder valued the petition at more than Rs. 5 lakhs. It is relevant to note that at that point in time, this Court, had the pecuniary jurisdiction to entertain suits the value of which exceeded Rs. 5 lakhs. Consequent to the filing of the aforesaid petition, vide order dated 27-2-2002, an Arbitrator was appointed to adjudicate the disputes inter se the parties.

(3.) DURING the pendency of the arbitration proceedings, the judgment debtor approached this Court on two occasions' for seeking certain orders. On the first occasion, the judgment debtor filed a petition under section 27 of the Act for summoning four additional witnesses, being OMP No. 297/2003. The said petition was allowed by order dated 13-1-2005. Thereafter, the judgment debtor filed another petition under section 37 (2) (b) of the Act assailing an order dated 28-9-2004, passed by the arbitral Tribunal, being OMP No. 382/2004. The aforesaid petition was disposed of vide order dated 27-3-2006, directing the judgment debtor to place the undertaking given to the court on an affidavit, to the effect that the judgment debtor shall not transfer or create any third party interest in the assets of manoranjan Cable Network during the pendency of the present Execution Petition.