Summary: A Delhi court has picked an arbitrator to settle a disagreement between Braj Mohan Agarwal and Iramya Developers about a delayed real estate project, even though the company was removed from the official list.
The conflict started in 2016 when Braj Mohan Agarwal and his wife found themselves in a disagreement with Iramya Developers Private Limited. They had put money into a housing project called "Iramya Heights" in Dwarka, New Delhi, but things didn’t go as planned.
The Agarwals signed contracts to buy apartments on January 22, 2016, and March 12, 2016, for two different apartments. They paid a total of ₹20,01,000 for these apartments, which included parking spots. The contracts included a rule that any disagreements would be settled by an arbitrator.
"The arbitration process will follow the rules set by the Arbitration and Conciliation Act, 1996..."
Even though they paid the money, the building never started. The Agarwals were promised a 15% yearly return on their investment if the project was delayed, but they never got any money back or any returns. They tried reaching out many times between 2018 and 2019, even involving the police and consumer forums, but nothing worked.
On June 11, 2025, the Agarwals asked for an arbitrator, but Iramya Developers didn’t reply. The company was also removed from the official list of companies, making things more complicated. The Agarwals then went to the Delhi High Court to ask for an arbitrator to be appointed.
Justice Harish Vaidyanathan Shankar decided that the agreement to use an arbitrator was still valid and chose Ms. Neelima Tripathi as the only arbitrator. He explained that removing a company from the official list does not mean it no longer owes any debts or responsibilities.
"Removing a company’s name from the official list does not automatically erase its debts or responsibilities..."
The arbitrator will now handle the case, and both parties will share the costs of arbitration. The court has left all claims and counterclaims open for the arbitrator to decide.
The court's decision ensures that, despite the company being removed from the official list, the dispute will be settled through arbitration. The arbitrator will review all claims and make a decision on the case.
