Axis Bank (Formerly Known as Uti Bank Ltd.) v. Pandya Nita Mayurkumar
Case brief
What is this about?
Axis Bank (formerly UTI Bank Ltd.) v. multiple judgment debtors — batch of 19 Interim Applications in Execution Applications with Garnishee Notices Nos. 3-6 of 2026 (Bombay HC OOCJ, Abhay Ahuja J, 2 April 2026; corrected per Speaking to Minutes 8 April 2026): unilateral appointment of sole arbitrator found; Bhadra International (India) Pvt. Ltd. v. Airports Authority of India, 2026 SCC Online SC 7 applied; execution applications and interim applications dismissed, chamber summons and garnishee notices disposed, arbitral awards set aside; fresh arbitration permitted; limitation exclusion from invocation till order date; liberty re proviso to Section 12(5), Arbitration and Conciliation Act 1996; respondents unrepresented.
What did the court decide?
Execution Applications and connected Interim Applications dismissed; Chamber Summons and Garnishee Notices/proceedings disposed; respective arbitral awards set aside; parties left free to initiate fresh arbitration in accordance with law, with the period from invocation of arbitration till the date of the order excluded for limitation, and liberty to apply where an express written agreement under the proviso to Section 12(5) of the Arbitration and Conciliation Act, 1996 waives the sole arbitrator's ineligibility or the right to object under Section 12(5).