Axis Finance Limited Vs Srinivasa Rao & Anr.

¶1

$~8

¶2

IN THE HIGH COURT OF DELHI AT NEW DELHI

¶3

ARB.P. 1031/2025 AXIS FINANCE LIMITED .....Petitioner Through: Mr. Pragun Bagla, Mr. Shikhar Gupta, Ms. Vanshika Garg, Advs. versus SRINIVASA RAO & ANR ......Respondents Through: None

¶4

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

¶5

% 11.09.2025

¶6

This is a petition filed under Section 11(6) of the Arbitration and Conciliation Act, 1996, seeking the appointment of a Sole Arbitrator for the adjudication of disputes arising out of a Loan Agreement dated 29.02.2024. 2. The brief facts of the case are that the petitioner advanced a loan to the respondents vide the Loan Agreement dated 29.02.2024, wherein the respondent No. 1 is the principal borrower and the respondent No. 2 is the Co-borrower.

¶7

The Loan Agreement contains an arbitration clause, Clause No. 51, which reads as under:

¶8

“51. GOVERNING LAW & ARBITRATION

¶9

i All and any dispute/s, differences arising out of or in connection with this Agreement and/or Facility Documents and the Schedule of the Terms attached thereto, controversy or claim arising out of or relating to this Agreement and Facility Documents, including its construction, meaning, scope or validity thereof, or compliance with the provisions of the Facility Documents shall be resolved and settled, by arbitration only in accordance with the provisions of the Arbitration and Conciliation Act, 1996 or any statutory

¶10

This is a digitally signed order.

¶11

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 18/09/2025 at 12:04:14

¶12

amendments thereto and shall be referred to either a Sole Arbitrator to be appointed by the Lender out of the panel of Arbitrators or shall be referred to an Arbitration Centre, an independent institution, appointed by the Lender and the Parties shall be at liberty to select the Arbitrator from the panel of the Arbitrators of Lender or the Arbitration Centre. …”

¶13

Since there were defaults by the respondents in making payments, the petitioner invoked arbitration vide legal notice dated 21.05.2025.

¶14

As per the Loan Agreement, the email of the respondents is [email protected],and as per the Affidavit of Service the respondents have been served at the said email address.

¶15

Despite service, there is nobody appearing on behalf of the respondents.

¶16

I am satisfied that there is a valid arbitration clause and there are disputes between the parties that need to be settled through an arbitral mechanism.

¶17

For the said reasons, the petition is allowed and the following directions are issued:-

¶18

i) Mr. Devansh Gupta (Advocate) (Mob. No. 9871209110) is appointed as a Sole Arbitrator to adjudicate the disputes between the parties.

¶19

ii) The arbitration will be held under the aegis and rules of the Delhi International Arbitration Centre, Delhi High Court, Sher Shah Road, New Delhi (hereinafter, referred to as the ‘DIAC’).

¶20

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

¶21

iv) The learned Arbitrator is requested to furnish a declaration in

¶22

This is a digitally signed order.

¶23

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 18/09/2025 at 12:04:14

¶24

terms of Section 12 of the Act prior to entering into the reference.

¶25

v) It is made clear that all the rights and contentions of the parties, including as to the arbitrability of any of the claims, 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.

¶26

vi) The petitioner shall approach the learned Arbitrator within two weeks from today.

¶27

The present petition is disposed of in the aforesaid terms.

¶28

JASMEET SINGH, J

¶29

SEPTEMBER 11, 2025/AS

¶30

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 18/09/2025 at 12:04:14

Axis Finance Limited v. Srinivasa Rao & Anr.

Case brief

What is this about?

What did the court decide?

Axis Finance Limited v. Srinivasa Rao & Anr.

Case brief

What is this about?

What did the court decide?

Why is it important?

What the court decided

Issues for consideration

Statutes considered

Procedural history

Parties & counsel

Coram

Case details

Similar cases

Tata Capital Limited Vs M/S Apollo Sales Corporation & Anr.

Ram Saran Das(Since Deceased) Thr Lrs & Anr. Vs M/S Sri Venkatesh Builders & Ors.

Avadh Rail Infra Ltd. Vs Sh. Kapil Verma

Mahindra and Mahindra Financial Service Ltd. Vs Global Auto System & Ors.

Axis Finance Limited Vs Yatin Gaur & Anr.

Esha Kedia Vs Milan R Parekh & Ors.