Full Judgment Text
$~21
* IN THE HIGH COURT OF DELHI AT NEW DELHI
Date of decision: 20.04.2026
+ O.M.P.(I) (COMM.) 80/2026, I.A. 5424/2026 (For Exemption)
& I.A.10741/2026 (For U/Section 9 Read With Order VII Rule
10 Read With Order I Rule 10 Read With Section 151 of The
CPC)
GKB HI-TECH LENSES PRIVATE LIMITED & ORS.
.....Petitioners
Through: Mr. Amit Sibal and Mr.
Rajshekhar Rao, Senior
Advocates along with Mr.
Manu Nair, Mr. Ameya
Gokhale, Mr. Renjith Nair, Mr.
Neelabh Shreesh, Mr. Chintan
Gandhi, Mr. Aryan Roy, Ms.
Anushka Bhardwaj, Ms.
Aalokaa Verma, Mr. Darpan
Sachdeva, Mr. Ankit Handa,
Ms. Ramayni Sood and Mr.
Harshil Wason, Advocates.
versus
ESSILOR INDIA PRIVATE LIMITED & ORS. ...Respondents
Through: Mr. Rajiv Nayar, Senior
Advocate along with Mr.
Manmeet Singh, Mr. Akash
Ray, Mr. Ajay Raj, Ms. Manjira
Dasgupta, Advocates for R-1 &
R-7 i/b Cyril Amarchand
Mangaldas.
Mr. Ashim Sood, Ms. Palak
Nagar and Ms. Senu Nizar,
Advocates for R-3.
CORAM:
HON'BLE MR. JUSTICE HARISH VAIDYANATHAN
SHANKAR
Signature Not Verified
Digitally Signed
By:NEERU
Signing Date:21.04.2026
17:17:33
O.M.P.(I) (COMM.) 80/2026 Page 1 of 5
% JUDGEMENT (ORAL)
1. The present Petition, filed under Section 9 of the Arbitration
1
and Conciliation Act, 1996 , seeks the following ad interim measures
against the Respondents:
“…..
th
a. Stay the effect and operation of the Defect Cure Notice dated 7
January, 2026 [ Document 1 ]
b. Pass an order in the nature of a temporary prohibitive injunction
restraining the Respondents from taking any steps in furtherance of
th
the Defect Cure Notice dated 7 January, 2026 [ Document 1 ],
including any steps mentioned in Clause 10.1 of the Master
th
Settlement Agreement dated 4 April, 2023 [ Document 2 ] read
with the relevant provisions of the Settlement Documents as
th
defined in the Master Settlement Agreement dated 4 April, 2023
[ Document 2 ]
c. Pass an order in the nature of a temporary prohibitive injunction
restraining the Respondent No.1 from causing Signet Armorlite
Amera Pte. Ltd. from taking any actions towards termination of the
st
Kodak Lens Distribution Agreement dated 1 January, 2016
d. Pass an order in the nature of a temporary prohibitive injunction
restraining Respondent No.1 from exercising any rights under the
th
Share Pledge Agreement dated 4 April, 2023 [ Document 2 ],
including from invoking the pledge and further, selling,
transferring, or otherwise disposing of or creating any
encumbrance on any of the Pledged Shares (as defined in the Share
Pledge Agreement).
e. Pass an order in the nature of a temporary prohibitive injunction
restraining Respondent No. I from presenting the Post Dated
Cheques issued in its favour under the Intra Group Dues Payment
th
Agreement dated 4 April, 2023 [ Document 3 ].
f. Pass an order restraining Respondent No. 1 from enforcement of
any security interest created under the Master Settlement
th
Agreement dated 4 April, 2023 [ Document 2 ].
g. Pass ex-parte ad-interim orders in terms of prayers (a) to (f) above;
h. Grant costs of these proceedings to be paid by the Respondents;
and
i. Pass any further or other order (s) which this Hon'ble Court may
deem fit and proper in favour of the Petitioners, in the facts and
circumstances of the case.”
1
Act
Signature Not Verified
Digitally Signed
By:NEERU
Signing Date:21.04.2026
17:17:33
O.M.P.(I) (COMM.) 80/2026 Page 2 of 5
2. The material on record indicates the Master Settlement
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Agreement dated 04.04.2023 , entered into between the parties,
provides for a dispute resolution clause, being Clause 19 of the
Agreement, which stipulates adjudication of any disputes inter se the
parties to the Agreement by way of Arbitration. The relevant portion
of Clause 19 is reproduced herein under for ready reference:
“19. DISPUTE RESOLUTION
19.1 . Any and all dispute or claims arising out of or related to or in
connection with this Agreement regarding its existence, validity or
termination shall be solely referred to and finally settled by
arbitration in accordance with the arbitration rules of Delhi
International Arbitration Centre ("DIAC") ("DIAC Rules " ),
which are deemed to be incorporated by reference. The seat and
venue of arbitration shall be Delhi, India. All arbitration
proceedings shall be conducted in the English language and in
confidence.”
3. Learned counsel appearing on behalf of the Parties jointly
submit that the parties are ad idem that the disputes that are stated to
have arisen inter se the parties may be referred to Arbitration by a
learned Sole Arbitrator, and the present Petition may be converted to a
Petition under Section 17 of the Act for adjudication by the learned
Arbitrator.
4. In view of the foregoing, this Court is of the considered
opinion, since the parties are ad idem with regard to being referred to
Arbitration, the adjudication of disputes must not be unduly delayed,
and therefore the statutory requirement of a Notice under Section 21
of the Act for invoking the Arbitration Clause and the subsequent
2
Agreement
Signature Not Verified
Digitally Signed
By:NEERU
Signing Date:21.04.2026
17:17:33
O.M.P.(I) (COMM.) 80/2026 Page 3 of 5
requirement of filing a formal Petition under Section 11 of the Act for
appointment of an Arbitrator are hereby waived of.
5. The material on record indicates that the value of the disputes is
stated to be approximately Rs. 17 Crores.
6. Further, both the parties submit that they are ad idem as to the
appointment of Hon’ble Mr. Justice Rajiv Shakdher (Retd.), Former
Chief Justice of the High Court of Himachal Pradesh, as the Sole
Arbitrator under the aegis of the Delhi International Arbitration
3
Centre
7. In view thereof, this Court is of the view that the matter may be
referred to arbitration for the purpose of the resolution of disputes as
between the parties, and the present Petition under Section 9 of the
Act be converted to a Petition under Section 17 of the Act, and be
adjudicated by the learned Arbitrator.
8. Accordingly, in terms of the request made by both the parties,
Hon’ble Mr. Justice Rajiv Shakdher (Retd.), Former Chief Justice
of High Court of Himachal Pradesh (Mobile No . 9717495004), to
enter upon the reference and adjudicate the disputes inter se the
parties.
9. This Court further requests the learned Arbitrator to kindly
adjudicate the issues raised in the Section 17 Petition, so converted, as
expeditiously as possible.
10. In view of the disputes being referred to Arbitration, the Interim
Order dated 26.02.2026 shall continue to operate until the learned
Arbitrator takes up the Section 17 Petition for adjudication.
11. The arbitration would take place under the aegis of the DIAC
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DIAC
Signature Not Verified
Digitally Signed
By:NEERU
Signing Date:21.04.2026
17:17:33
O.M.P.(I) (COMM.) 80/2026 Page 4 of 5
and would abide by its rules and regulations. The learned Arbitrator
shall be entitled to fees as per the Schedule of Fees maintained by the
DIAC.
12. The learned Arbitrator is also requested to file the requisite
disclosure under Section 12(2) of the Act within a week of entering
the reference.
13. The Registry is directed to send a receipt of this order to the
learned arbitrator through all permissible modes, including through e-
mail.
14. All rights and contentions of the parties in relation to the
claims/counter-claims are kept open, to be decided by the learned
Arbitrator on their merits, in accordance with law.
15. Needless to say, nothing in this order shall be construed as an
expression of opinion of this Court on the merits of the controversy
between the parties.
16. Let a copy of this Order be transmitted to the DIAC for
necessary information and action.
17. Accordingly, the present Petition, along with pending
Application(s), if any, stands disposed of.
HARISH VAIDYANATHAN SHANKAR, J.
APRIL 20, 2026/tk/jk/DJ
Signature Not Verified
Digitally Signed
By:NEERU
Signing Date:21.04.2026
17:17:33
O.M.P.(I) (COMM.) 80/2026 Page 5 of 5