Allowed

Aditya Birla Finance Limited v. Rahul Trading Company & Ors.

Delhi HC12 Jul 2024ARB.P./469/2024

Case brief

AI extract

What is this about?

The Delhi High Court allowed the petitioner's application to revive arbitration proceedings. The court appointed a sole arbitrator to adjudicate pending disputes regarding outstanding payments arising from an agreement between the parties.

What did the court decide?

Application allowed; petition allowed; appointment of sole arbitrator issued; parties directed to approach arbitrator within two weeks.

Aditya Birla Finance Limited Vs Rahul Trading Company & Ors. — Arbitration | Delhi HC (2024)

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$~41

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- ARB.P. 469/2024

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ADITYA BIRLA FINANCE LIMITED .....Petitioner Through: Mr Ravi Gupta, Sr. Adv. with Mr Mahip Dutta, Mr Aman Vasisth, Ms Muskaan Mehra and Mr Chaitanya Malhotra, Advs.

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versus

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RAHUL TRADING COMPANY & ORS .....Respondents Through: Mr Atul Kumar, Adv.

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CORAM: HON'BLE MR. JUSTICE JASMEET SINGH

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O R D E R % 02.09.2024

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I.A. 38023/2024

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This is an application seeking revival of the arbitration proceedings.

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On 12.07.2024, this Court disposed of the petition under Section 11(6) of the Arbitration and Conciliation Act, 1996. The operative portion of the order dated 12.07.2024 reads as under:

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“6. Mr Chandra, learned counsel for the respondents has handed over the reply which is taken on record. However, on instructions from Mr Navneet Gupta (Proprietor of Respondent No. 1) who is present in Court today through VC states that there is no dispute between the parties and the respondent is ready and willing to make the entire payment of Rs. 6.5 crores. However, he only seeks accommodation to make the payment.

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This is a digitally signed order.

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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 10/09/2024 at 12:09:54

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7. I am inclined to grant time to the respondents to make the payment. The respondents shall make the payment of Rs. 6.5 crores in the following manner:-

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i. Rs. 50 lakhs by 20.07.2024,

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ii. Rs. 50 lakhs by 20.08.2024

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iii. Rs. 50 lakhs by 20.09.2024

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iv. Rs. 1 crore by 31.10.2024 and the balance amount by 30.11.2024.”

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Mr Gupta, learned senior counsel for the petitioner states that the petitioner has received only the first instalment of Rs. 50 lakhs, however, no instalment for 20.08.2024 has been paid. Hence, the present application for revival.

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Mr Gupta states that the petitioner is no longer bound by the settlement and will claim the amounts due and payable as per the Agreements.

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From the facts narrated above and in view of the order passed on 12.07.2024, it is clear that the respondents agreed that there are amounts due and payable to the petitioner. It is also evident that only a small payment has been made and the balance payment is outstanding.

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It is clear that there are disputes pending between the parties. The arbitration clause has also been admitted by the respondents.

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Hence, the application is allowed and consequently, the petition is also allowed. Since the parties are still having disputes between them, the following directions are issued:-

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i) Mr. Justice Talwant Singh (Retd.) (Mob. No 9910384653) is appointed as a Sole Arbitrator to adjudicate the disputes between

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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 10/09/2024 at 12:09:54

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the parties.

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ii) The arbitration will be held under the aegis of the Delhi International Arbitration Centre, Delhi High Court, Sher Shah Road, New Delhi (hereinafter, referred to as the ‘DIAC’). The remuneration of the learned Arbitrator shall be in terms of the Delhi International Arbitration Centre (Administrative Cost and Arbitrators’ Fees) Rules, 2018.

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iii) The learned Arbitrator is requested to furnish a declaration in terms of Section 12 of the Act prior to entering into the reference.

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iv) It is made clear that all the rights and contentions of the parties, including as to the arbitrability of any of the claim, any other preliminary objection, as well as claims/counter-claims and merits of the dispute of either of the parties, are left open for adjudication by the learned arbitrator.

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v) The parties shall approach the learned Arbitrator within two weeks from today.

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JASMEET SINGH, J

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SEPTEMBER 2, 2024 sr

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Click here to check corrigendum, if any

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This is a digitally signed order.

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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 10/09/2024 at 12:09:54

Aditya Birla Finance Limited v. Rahul Trading Company & Ors.

Case brief

What is this about?

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Aditya Birla Finance Limited v. Rahul Trading Company & Ors.

Case brief

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