p. 1 $~58 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 151/2025 NICE PROJECTS LTD. THROUGH THE LIQUIDATOR MR VIVEK PARTI .....Petitioner Through: Mr. Angad Mehta, Mr. Karan Gandhi, Mr. Arsh, Mr. Sikhar Tiwari and Ms. Vidhika Kapoor, Advocates. versus HINDUSTAN URVARAK AND RAYASAN LTD & ANR. .....Respondents Through: Mr. Adarsh Tripathi, Advocate for R-1. CORAM: HON'BLE MS. JUSTICE JYOTI SINGH O R D E R % 02.05.2025 CAV 164/2025 1. Since Mr. Adarsh Tripathi, learned counsel enters appearance on behalf of Respondent No. 1, caveat stands discharged. I.A. 10986/2025 2. Allowed, subject to all just exceptions. 3. Application stands disposed of. O.M.P.(I) (COMM.) 151/2025 & I.A. 10987/2025 4. This petition is preferred on behalf of the Petitioner under Section 9 of the Arbitration and Conciliation Act, 1996 (‘1996 Act’) seeking a stay on the impugned letter dated 21.04.2025 albeit inadvertently typed as 21.04.2024 in the prayer clause. 5. At the outset, learned counsel for Respondent No. 1 submits that this This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 01/07/2025 at 16:24:10 p. 2 petition is rendered infructuous as the communication has been given effect to and the Bank Guarantee bearing No. 0960119BG0000128 for an amount of Rs. 8,70,58,559/- has been encashed on 01.05.2025. This position is confirmed by learned counsel for the Petitioner, from the Petitioner on a passover. 6. Accordingly, this petition is disposed of as infructuous, leaving all rights and contentions of the parties open in the pending litigation before the NCLT and/or any arbitral proceedings to which the parties may take recourse in future. 7. Pending application stands disposed of. JYOTI SINGH, J MAY 02, 2025/shivam This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 01/07/2025 at 16:24:10