Tirtha Securities Pvt. Ltd. vs Bakliwal Securities Pvt. Ltd. and Anr. — Bombay HC (2026) — LawSathi Research

Tirtha Securities Pvt. Ltd. vs Bakliwal Securities Pvt. Ltd. and Anr. — Bombay HC (2026) — LawSathi Research

What the court decided

AI extract

Outcome

No relief to the applicant: the Execution Application was dismissed; the arbitral award was declared non-est in law, non-executable and void-ab-initio; the Interim Applications/Notice stood disposed of; parties left free to initiate fresh arbitration with the period from invocation of arbitration till the order date excluded for limitation.

Issue for consideration

Whether the arbitral award passed by a unilaterally appointed sole arbitrator is executable, or can be set aside as void-ab-initio even at the stage of execution.

Court's answer

The appointment of the sole arbitrator in the underlying arbitration was unilateral.

Ratio / Principle

In view of the Supreme Court's judgment in Bhadra International (India) Pvt. Ltd. v. Airport Authority of India (Civil Appeal No. 37-38 of 2026), the arbitral award passed by the sole arbitrator is declared non-est in law, non-executable and void-ab-initio.

Key takeaways

It shall be open for the parties to initiate fresh arbitration proceedings in accordance with law.ratio¶30
The period from the invocation of the arbitration till the date of this order shall stand excluded for the purpose of initiating fresh arbitration proceedings.ratio¶31

Detailed headnote1 paragraphs

Bombay High Court (Ordinary Original Civil Jurisdiction) [Rajesh S. Patil, J.] — Execution Application No. 1754/2022 with Notice No. 619/2025; Tirtha Securities Pvt. Ltd. (Applicant) v. M/s. Bakliwal Securities Pvt. Ltd. & Anr. (Respondents). The applicant sought execution of an arbitral award passed by a unilaterally appointed sole arbitrator. Counsel for the applicant argued that the Supreme Court's judgment in Bhadra International (India) Pvt. Ltd. v. Airport Authority of India, Civil Appeal No. 37-38 of 2026 (decided 5 January 2026) was inapplicable because the respondents had participated in the arbitration proceedings; no one appeared for the respondents. The Court, recalling its own earlier view in L & T Finance Ltd. v. Sangeeta Bhansali & Anr., Commercial Execution Application (L) No. 5277 of 2022, and following the Supreme Court's ruling that even at the stage of execution an arbitral award can be set aside as void-ab-initio where the arbitrator's appointment was unilateral, declared the award non-est in law, non-executable and void-ab-initio. The Execution Application was dismissed; interim applications/notice stood disposed of; the parties were permitted to initiate fresh arbitration, with the period from invocation of arbitration till the order date excluded for limitation.

KVM

1/2

8 - EXA 1754 OF 2022.doc

Digitally signed KANCHAN by KANCHANVINOD VINOD MAYEKAR MAYEKAR Date:2026.05.07 19:03:45 +0530

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION

EXECUTION APPLICATION NO. 1754/2022 ALONGWITH NOTICE NO. 619/2025 IN

EXECUTION APPLICATION NO. 1754/2022

TIRTHA SECURITIES PVT. LTD. VS

….. APPLICANT

M/S.BAKLIWAL SECURITIES PVT. LTD. & ANR. ….. RESPONDENTS

Adv. A. R. Bamne i/b. M/s. A.R.Bamne & Co, for the Applicant. None for the Respondents.

CORAM : RAJESH S. PATIL, J.

DATE : 4 MAY, 2026

P.C. :-

Mr. Bamne on behalf of the applicant submitted that the

respondents have participated in the arbitration proceedings. Hence, Supreme Court judgment in Bhadra International (India) Pvt. Ltd.

and others vs. Airport Authority of India, Civil Appeal No. 37-38 of

2026 is not applicable in the present proceedings.

None appears for the respondents when the matter is

called out.

From the proceedings, it can be gathered that the appointment of the sole arbitrator was unilateral.

2/2

KVM

8 - EXA 1754 OF 2022.doc

I have taken a view in the judgment of L & T Finance Ltd. vs. Sangeeta Bhansali & Anr. in Commercial Execution Application (L) No. 5277 of 2022, considering the latest judgment of the Supreme Court decided on 5 January, 2026, in the matter of Bhadra International (India) Pvt. Ltd. and others vs. Airport Authority of India, Civil Appeal No. 37-38 of 2026, wherein it has been held that even at the stage of execution, an arbitral award can be set aside being void-ab-initio on the grounds that the appointment of the arbitrator was unilateral.

In view of the aforesaid judgment, the arbitral award in the present proceeding passed by the sole arbitrator is hereby declared to be non-est in law, non-executable and void-ab-initio.

1. Execution Application stands dismissed .

In sequel, the Interim Applications/Notice, if any, also stand disposed of.

It shall be open for the parties to initiate fresh arbitration proceedings in accordance with law.

As far as limitation is concerned, the period from the invocation of the arbitration till today shall stand excluded for the purpose of initiating fresh arbitration proceedings.

(RAJESH S. PATIL, J.)