Petitioner invoked Section 11(6) of the Arbitration and Conciliation Act seeking appointment of an arbitrator under Article 12 of a Loan Agreement after respondents defaulted on a loan and failed to appear or reply. The Court appointed Mr. Tanodbhav Singh Dev as Sole Arbitrator, with proceedings under DIAC rules.
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* IN THE HIGH COURT OF DELHI AT NEW DELHI
OVINGTON FINANCE PVT. LTD. ..... Petitioner Through: Mr. Rahul Khanna, Adv. versus
SMT UPASANA MISHRA & ANR. ..... Respondents Through: None.
CORAM: JUSTICE PRATHIBA M. SINGH O R D E R % 23.01.2024
“ ARTICLE 12 -ARBITRATION
That the Borrower and OFPL agree that agreement shall be construed in accordance with the laws in force in India and in the event that any dispute or difference, arise on any matter relating to or arising out of the present Agreement, the same shall be referred to the Sole Arbitration of an arbitrator to be appointed by OFPL whose decision shall be final and binding upon the parties. The sole Arbitrator shall conduct the arbitration proceedings at New Delhi/Delhi . It is also mutually agreed between the parties that OFPL would be entitled to invoke the present arbitration agreement even after OFPL would have recalled the Loan/terminated the contract, for any reason whatsoever. It is also agreed between the parties that arbitration proceeding would be conducted in English
This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 06/06/2024 at 15:03:58
only and in no other language. The arbitration shall be conducted in accordance with Arbitration and Conciliation Act, 1996. ”
This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 06/06/2024 at 15:03:58
be served in keeping the matter pending. The ld. Sole Arbitrator in terms of the said Article 12 of the Loan Agreement is appointed to adjudicate the disputes between the parties. Accordingly, Mr. Tanodbhav Singh Dev, Advocate (M:9999012345) is appointed as the Sole Arbitrator. The arbitration proceedings shall take place as per the rules of Delhi International Arbitration Centre ( ‘DIAC’ ), under its aegis. Parties shall appear before the DIAC on 13th February, 2024.
PRATHIBA M. SINGH, J.
JANUARY 23, 2024/ dk/dn
This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 06/06/2024 at 15:03:58
1 issue framed by the court
Whether an arbitrator should be appointed under Section 11(6) of the Arbitration and Conciliation Act, 1996 pursuant to the arbitration clause in a Loan Agreement.
2 provisions across 1 enactments
Ovington Finance Pvt. Ltd.
Smt Upasana Mishra
Pradeep Mishra
Prathiba M. Singh
As recorded by the court registry
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