All three arbitrators in Mohit Saraf-Rajiv Luthra arbitration resign

All three arbitrators appointed in the dispute between the late Rajiv Luthra, Founding Partner of Luthra & Luthra Law Offices, and the firm's former Senior Partner Mohit Saraf, have decided to resign..The arbitral tribunal consisted of former apex court judges Justice RV Raveendran, Justice AK Sikri and Justice Madan B Lokur. Justice Raveendran was nominated by Mohit Saraf while Justice Sikri was appointed by Rajiv Luthra. Justice Lokur was nominated by the two arbitrators.As per reliable sources, Justice Lokur has written to both parties informing them that all three arbitrators are no longer desirous or willing to continue the arbitration..The decision of the tribunal to disband comes after Saraf's lawyer Raghvendra K Singh wrote an email on September 28 informing the judges that Saraf would be proceeding to seek the substitution of the members of the tribunal.After discussing the email with the other members of the tribunal, Justice Lokur has now communicated to the parties that the members have withdrawn from the same..In a letter sent to the parties, Justice Lokur also made a reference to the observations made by Saraf's lawyer in the email. While refuting the correctness of such observations made by Singh, the former judge chose not to discuss the same in the letter, in view of the decision to not continue with the arbitration.The letter concludes by saying that the tribunal's mandate has expired and that this communication is being sent for the parties to take steps to constitute a fresh tribunal instead of approaching the court to extend the mandate of the existing tribunal..Saraf had moved the Delhi High Court in October 2020 after he was removed from the L&L partnership by Luthra.Following a suggestion made by the Court, Senior Advocate Harish Salve had agreed to mediate between Luthra and Saraf. The same, however, failed to bear fruit. An earlier attempt to settle the matter through mediation had also failed.After the matter returned to the High Court, a single-judge stayed the termination of Saraf from the L&L partnership.Luthra then appealed against this verdict, arguing that the single-judge's order was riddled with inconsistencies.In the meanwhile, proceedings regarding the dispute were pending before the arbitral tribunal, which has now been terminated.