NEERU JAIN Vs. JASMINE BUILDMART PVT. LTD.

JUDGEMENT

(1.) The present petitions have been filed under Section 9 of the Arbitration & Conciliation Act, 1996 ('Act') seeking stay of the operation of cancellation letters dated 29/30 th March, 2019 and/or 3rd April, 2019 issued by the respondent as well as an order restraining the respondent, its Directors, agents, officers, affiliates in any manner dealing with including selling, alienating, transferring, mortgaging or creating any third party rights, title or interest either directly or indirectly in the Apartments which are a subject matter of dispute between the parties.

(2.) Since similar questions/issues arise for adjudication in these petitions, they are being disposed of by a common judgment.

(3.) Some brief facts necessary to adjudicate these petitions are that the respondent is a part of the Krrish Group of Developers, engaged in promoting and developing Real Estate projects in Delhi-NCR. OMP(I) (Comm) 285/2019 has been filed on behalf of the HUF through its Karta, Shri M.K. Jain; OMP(I) (Comm) 280/2019 has been filed by Ms. Neeru Jain, wife of Shri M.K. Jain; OMP(I) (Comm) 281/2019, OMP(I) (Comm) 282/2019 and OMP(I) (Comm) 286/2019 are filed by Shri M.K. Jain in his personal capacity and OMP(I) (Comm) 284/2019 has been filed by Rishabh Jain, son of Shri M.K. Jain. Shri M.K. Jain is the General Power of Attorney holder of the other petitioners.