The mediation between L&L Partners Founder Rajiv Luthra and Senior Partner Mohit Saraf has been called off. The mediator, Senior Advocate Sriram Panchu, has submitted the mediation report before the Delhi High Court.
The Bench of Justice V Kameswara Rao had stated that Luthra would be given the opportunity to file a reply to Saraf’s plea after that, if the mediation fails in Luthra Dispute. No interim relief was granted by the Court.
The Delhi High Court had ordered that the mediation between Rajiv Luthra and Mohit Saraf be completed by November 1.
The two senior-most partners at L&L Partners have been embroiled in a tiff over the dilution of the firm’s equity for weeks now.
The main contention in Saraf’s plea before the Delhi High Court is that he cannot be summarily thrown out of the firm using strong-arm tactics. After the hearing, the Delhi High Court had ordered for the dispute between the partners to be decided by mediation.
The matter has been listed for today.