Tata Capital Limited v. Dadarwal Road Lines
Arbitration and Conciliation Act, 1996 – Section 9 petition
Case brief
What is this about?
Section 9 Arbitration and Conciliation Act 1996; Section 17 interim protection; continuation of ad-interim relief pending fresh arbitration; unilateral appointment of arbitrator; arbitration award 20/03/2024; LRN/invocation 04/11/2024; prayer clauses (a), (e), (h), (i); three loan agreements Nos. 5004398801, 5004398803, 5004398805 dated 30/07/2022; Loan Amount Rs. 43,07,296 each; claim amounts as of 29.05.2024 (Rs. 1,38,604.82 / 1,47,770.06 / 1,38,697.54); Tata Motors Finance Limited; Dadarwal Road Lines; variation/alteration/vacation of interim relief; next date April 24, 2025; Bombay High Court Commercial Division.
What did the court decide?
Ad-interim relief/continuation of interim protection granted in respect of the three agreements (Contract Nos. 5004398801, 5004398803, 5004398805, each dated 30/07/2022) in terms of prayer clauses (a), (e), (h) and (i) of the Petition, with liberty reserved to the Respondent to seek variation, alteration or vacation thereof on the next date (April 24, 2025); actions to be taken on receipt of a downloaded copy from the Court's website.