Iifl Finance Limited v. Dlg Industries
Case brief
What is this about?
IIFL Finance Ltd. (Petitioner/Applicant, through Ms. Pooja Singh) obtained constitution of an Arbitral Tribunal against DLG Industries (Respondent, unrepresented) via Arbitration Petition No. 526 of 2025 (Section 9 petition), High Court of Judicature at Bombay, O.O.C.J., decided 21 April 2026 by Sandeep V. Marne, J., alongwith Arbitration Application (L.) No. 13182 of 2026 heard analogously. Disputes arose out of a Loan Agreement containing Arbitration Clause No. 26; seat of arbitration at Mumbai; notices duly served, none appearing for the Respondent. Held: just and proper to constitute Arbitral Tribunal comprising a sole Arbitrator; Mr. Shayan J. Bisney, Advocate, appointed sole Arbitrator; ad-interim measures of order dated 9 March 2026 continued during pendency of arbitral proceedings and till making of the final Award; Statement of Disclosure under Section 11(8) read with Section 12(1) of the Act within 2 weeks; fees per Bombay High Court (Fee Payable to Arbitrators) Rules, 2018 borne equally, subject to final Award; all merits issues kept open.