Banas Finance Limited vs Midcity Heights

49-CARBP-312-2024.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION

COMM. ARBITRATION PETITION NO. 312 OF 2024

Digitally signed by SHRADDHA SHRADDHA KAMLESH KAMLESH TALEKAR TALEKAR Date: Banas Finance Limited 2025.04.25 17:08:51 +0530 Versus Midcity Heights & Ors.

¶5

...Petitioner(s)

¶6

...Respondent(s)

¶7

Ms. Ruchi Bist , for Petitioner.

¶8

Mr. Rishikesh Soni i/b Raveena Rajendra Yadav, for Respondents.

¶9

CORAM : SOMASEKHAR SUNDARESAN, J.

¶10

Date : April 7, 2025

¶11

P. C.

¶12

This Petition has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 ( “the Act” ), seeking appointment of an arbitrator in connection with disputes and differences that are said to have arisen between the parties under a Memorandum of Understanding dated March 12, 2019 (“ Agreement ”).

¶13

Today, by consent, both the Section 9 Petition and Section 11 Application are taken up for hearing out of turn. By consent of parties, all disputes and differences covered by the aforesaid decisions stand referred to arbitration in terms of the following order :

¶14

Page 1 of 4 April 7, 2025

¶15

Shraddha

¶16

49-CARBP-312-2024.doc

¶17

Commercial] Arbitration Petition No. 312 of 2024 (“ Section 9 Petition ”) relates to the very same matter between the very same parties, seeking certain interlocutory protective reliefs. The Section 9 Petition shall be treated as an Application under Section 17 of the Act by the arbitral tribunal appointed hereby. Given the efflux of time, the Petitioner is at liberty to modify or mould the contents of Section 9 Petition for its consideration as a Section 17 Application.

¶18

In these circumstances, these proceedings are hereby finally disposed of , in terms of the following order:

¶19

A] Mr. Vishal Kanade, an advocate of this Court, is hereby appointed as the Sole Arbitrator to adjudicate upon the disputes and differences between the parties arising out of and in connection with the Agreement referred to above;

¶20

Office Address:-103, Gundecha Chambers, 1^st floor, Nagindas Master Road, Kala Ghoda, Fort, Mumbai 400 001

¶21

Email : [email protected]

¶22

B] A copy of this Order will be communicated to the Learned Sole Arbitrator by the Advocates for the Petitioner within a period of one week from today. The Petition shall provide the contact and communication particulars of the parties to the Arbitral Tribunal along with a copy of this Order;

¶23

Page 2 of 4 April 7, 2025

¶24

Shraddha

¶25

49-CARBP-312-2024.doc

¶26

C] The Learned Sole Arbitrator is requested to forward the statutory Statement of Disclosure under Section 11(8) read with Section 12(1) of the Act to the parties within a period of two weeks from receipt of a copy of this Order;

¶27

D] The parties shall appear before the Learned Sole Arbitrator on such and at such place as indicated, to obtain appropriate directions with regard to conduct of the arbitration including fixing a schedule for pleadings, examination of witnesses, if any, schedule of hearings etc. At such meeting, the parties shall provide a valid and functional email address along with mobile and landline numbers of the respective Advocates of the parties to the Arbitral Tribunal. Communications to such email addresses shall constitute valid service of correspondence in connection with the arbitration;

¶28

E] All arbitral costs and fees of the Arbitral Tribunal shall be borne by the parties equally in the first instance, and shall be subject to any final Award that may be passed by the Tribunal in relation to costs.

¶29

Needless to say, nothing contained in this order is an expression of an opinion on merits of the matter or the relative strength of the parties. All issues on merits are expressly kept open to be agitated before the arbitral tribunal appointed hereby.

¶30

Page 3 of 4 April 7, 2025

¶31

Shraddha

¶32

49-CARBP-312-2024.doc

¶33