Axis Bank (Formerly Known as Uti Bank Ltd.) v. Tasalim Sadroddin Khatib
Case brief
What is this about?
Axis Bank (f/k/a UTI Bank Ltd.) execution applications against judgment debtors; unilateral appointment of sole arbitrator; arbitral awards set aside; interim applications dismissed; garnishee notices and chamber summons disposed; Bhadra International (India) Pvt. Ltd. v. Airports Authority of India, 2026 SCC Online SC 7 (followed); Section 12(5) and proviso thereto, Arbitration and Conciliation Act 1996; ineligibility raisable at any stage including execution; fresh arbitration permitted; limitation exclusion from date of invocation; liberty under express written waiver of Section 12(5); Bombay High Court, Abhay Ahuja J., 2 April 2026.
What did the court decide?
The interim applications in execution were dismissed and the respective arbitral awards set aside; the Execution Applications, connected Interim Applications, Chamber Summons and Garnishee Notices/proceedings stand disposed. Parties are free to initiate fresh arbitration in accordance with law, with the period from invocation of arbitration till the date of this order excluded for limitation, and with liberty to apply where an express agreement in writing waives ineligibility/right to object under the proviso to Section 12(5) of the Arbitration and Conciliation Act, 1996.