The Delhi High Court appointed Mr. Deepak Chopra as the sole arbitrator in a petition filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 regarding loan disputes, after issuing notice to the absent respondent.
Appointment of Mr. Deepak Chopra as Sole Arbitrator to adjudicate the dispute under the aegis of DIAC within two weeks.
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AXIS FINANCE LIMITED .....Petitioner Through: Mr. Raveesh Thukral, Adv. versus JIMISH SHANTILAL SHAH .....Respondent Through: None CORAM: HON'BLE MR. JUSTICE JASMEET SINGH O R D E R
% 06.08.2024
“14. Arbitration:
(i)All disputes, differences and/or claim or questions arising out of these presents or in any way touching or concerning the same or as to constructions, meaning or effect thereof or as to the right, obligations and liabilities of the parties hereunder shall be referred to and settled by arbitration, to be held in accordance with the provisions of the Arbitration and Conciliation Act, 1996 or any statutory amendments thereof, of a sole arbitrator to be nominated by the Lender, and in the event of death, unwillingness, refusal, neglect, inability or incapability of a person so appointed to act as an arbitrator,
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 13/08/2024 at 11:35:40
the Lender may appoint a new arbitrator to be a sole arbitrator. The arbitrator shall not be required to give any reasons for the award and the award of the arbitrator shall be final and binding on all parties concerned. The arbitration proceedings shall be held Mumbai/Delhi.
(ii) Notwithstanding anything to the contrary contained herein, any dispute, controversy or claim arising out of or relating to this contract, including its construction, meaning, scope or validity thereof, shall be resolved and settled by arbitration under the Arbitration and Conciliation Act, 1996 (as amended) which may be administered electronically under Online Dispute Resolution (ODR), in accordance with its Dispute Resolution Rules (“Rules”).
(iii) The parties consent to carry out the aforesaid proceedings electronically via the email addresses and / or mobile numbers as per Axis Finance records, updated from time to time.
(iv) The parties agree that the aforesaid proceedings shall be carried out by a sole arbitrator appointed under the Rules. The juridical seat of arbitration shall be Delhi/Mumbai, India and the aforesaid proceedings shall be subject to the exclusive jurisdiction of the competent courts in Delhi/Mumbai, India. The language of arbitration shall be English. The law governing the arbitration proceedings shall be Indian law. The decision of the arbitrator shall be final and binding on the parties.”
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 13/08/2024 at 11:35:40
been shown as [email protected] and mobile No. 7038117763.
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 13/08/2024 at 11:35:40
weeks from today.
JASMEET SINGH, J
AUGUST 6, 2024 / (MS)
Click here to check corrigendum, if any
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 13/08/2024 at 11:35:40
1 issue framed by the court
Whether the petition for appointment of a sole arbitrator under Section 11(6) of the Arbitration and Conciliation Act, 1996 deserves allowance in absence of the respondent.
3 provisions across 2 enactments
Axis Finance Limited
Jimish Shantilal Shah
Jasmeet Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
