Sunday, July 07, 2019

Delhi HC asks GVK Airport Holdings to approach Arbitral Tribunal for interim relief against Bid Services

The Delhi High Court has permitted GVK Airport Holdings to approach the duly constituted Arbitral Tribunal for any interim relief in connection with the sale of Bid Services Division (Mauritius) Limited's sale of stake in the Mumbai International Airport.

The order was passed by a Division Bench of Justices S Muralidhar and Talwant Singh in an appeal moved by GVK against a Single Judge Bench order under Section 9 of the Arbitration Act. The Single Judge Bench had refused to restrain Bid Services from offering or selling its 13.5% shareholding in Mumbai International Airport Limited to any person other than GVK.

The Division Bench was informed that during the pendency of litigation before the Single Judge Bench, the parties had nominated their respective arbitrators and a three-member Arbitral Tribunal was already in place. It was further stated that the Arbitral Tribunal was slated to meet for the first time on July 9.

In view of this submission, the Court decided not to deal with the merits of the appeal preferred by GVK. It also noted that the findings of the Single Judge Bench were only prima facie in nature and not binding on the Arbitral Tribunal.
07/08/19 Aditi Singh/Bar and Bench
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