Allowed

Oyo Workspaces India Private Limited v. Cashgrow Financial Services Private Limited

Delhi HC8 Oct 2024ARB.P./494/2024

Case brief

AI extract

What is this about?

Petition under the Arbitration Act seeking appointment of an arbitrator for disputes under a coworking Membership Agreement after respondent defaulted on monthly payments. Respondent did not appear. Court appointed a sole arbitrator to conduct arbitration under DIAC, leaving all contentions open.

What did the court decide?

Sole arbitrator (Mr. Vikas Sharma, Advocate) appointed under DIAC aegis to adjudicate disputes; declaration u/s 12 required before entering reference.

Oyo Workspaces India Private Limited Vs Cashgrow Financial… — Arbitration | Delhi HC (2024)

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$~3

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- ARB.P. 494/2024

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OYO WORKSPACES INDIA PRIVATE LIMITED .....Petitioner Through: Mr. Samarth Mehrotra, Mr. Diptiman Acharya, Mr. Sagar Pradhan, Advs.

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versus

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CASHGROW FINANCIAL SERVICES PRIVATE LIMITED

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.....Respondent

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Through:

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CORAM: HON'BLE MR. JUSTICE JASMEET SINGH O R D E R

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% 08.10.2024

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This is a petition seeking appointment of an Arbitrator to adjudicate the disputes between the parties.

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The petitioner is in the business of providing workspace service/solution for monetary consideration.

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The respondent expressed the desire to take one of the workspace service from the petitioner and entered into a Membership Agreement dated 24.07.2023.

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The respondent was granted the right to occupy 25 seats in the coworking space from 01.07.2023 to 30.06.2024 at the rate of ₹ 1,75,000/- per month along with the GST.

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The respondent was in arrears of the said payment and hence the petitioner invoked arbitration vide legal notice dated 17.02.2024.

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The arbitration clause is Clause 27 of the Membership Agreement and reads as under:

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“ 27. Governing Law and Dispute Resolution: Governed by Indian law, Disputes shall be resolved by arbitration in accordance with the Arbitration and Conciliation Act, 1996 at New Delhi only .”

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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 15/10/2024 at 11:59:31

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On the last date, Mr. Kumar, learned counsel for the respondent appeared and sought and was granted 4 weeks to file a reply.

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Neither a reply has been filed nor is anybody appearing on behalf of the respondent.

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For the said reasons, the petition is allowed and disposed of with the following directions:

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i) Mr. Vikas Sharma, Advocate (Mob. No. 9810566116) is appointed as a Sole Arbitrator to adjudicate the disputes between 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’).

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iii) The remuneration of the learned Arbitrator shall be in terms of DIAC (Administrative Cost and Arbitrators’ Fees) Rules, 2018.

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

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JASMEET SINGH, J

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OCTOBER 8, 2024/DM

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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 15/10/2024 at 11:59:31

Oyo Workspaces India Private Limited v. Cashgrow Financial Services Private Limited

Case brief

What is this about?

What did the court decide?

Oyo Workspaces India Private Limited v. Cashgrow Financial Services Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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