The Supreme Court today (March 09, 2020) declined to entertain the plea against the stay imposed on arbitration proceedings relating to former IPL chairman Lalit Modi and the property belonging to KK Modi Trust.
A vacation bench of Justice Ashok Bhushan and Justice Surya Kant refused to interfere and asked the counsel of Lalit Modi to approach the Delhi High Court, where the matter is pending.
A decision bench of the Delhi High Court had recently stayed the arbitration proceedings going on in Singapore on Lalit Modi’s mother – Bina Modi’s plea.
Bina Modi had moved High Court division bench after single-judge bench refused a stay.
Arbitration proceedings were being carried on in Singapore between Lalit Modi, Bina Modi and her two other children, Charu Bhartia and Samir Modi.
"The two factions in the KK Modi group differ on the appropriate legal forum to be approached by the family members in the absence of a consensus regarding the sale of the estate and distribution of proceeds.Being aware of the long litigation between the earlier generations of the parties, before commencing hearing, I enquired from the senior counsels, whether or not the disputes were easily resolvable and why should this generation also repeat the mistake of the earlier generation, which has cost the larger family of the parties dearly” stated Justice Rajiv Sahai Endlaw in his 38-page order.
“However, finding that the parties presently are not in a mood to settle, and are ready to litigate, an attempt at that was not taken further” added justice Rajiv Sahai.
Author: Aishwary Bajpai