2014 (3) TMI 1093 - HC - Indian Laws

Maintainability of the arbitral proceedings - Held that - As the appellant sought liberty to withdraw the appeal and stated that the questions urged with respect to the maintainability of the arbitral proceedings in view of the respondents/defendants failure to follow the conditions and steps prescribed in clause 12.3 of the shareholder s agreement would be taken before the Tribunal. In view of the statement made the liberty sought is granted. The appeal is dismissed as withdrawn.

Summary

The Delhi High Court dismissed the appeal after the appellant sought to withdraw it, stating that questions regarding the maintainability of arbitral proceedings would be taken before the Tribunal due to the respondent's failure to follow prescribed conditions in the shareholder's agreement. The appeal was dismissed as withdrawn.