Moneywise Financial Services Pvt. Ltd. v. Venus Power Projects Private Limited through Its Directors and Others
Case brief
What is this about?
ARB.P. 1072/2024; Moneywise Financial Services Pvt Ltd v. Venus Power Projects Private Limited through its Directors and Others; High Court of Delhi; Subramonium Prasad J; 17.01.2025; Section 11 Arbitration and Conciliation Act 1996; arbitrator appointment; Loan Agreement dated 28.12.2018; Clause 10.1 arbitration clause; seat of arbitration New Delhi; Section 21 notice dated 20.11.2021; Rs.20 lacs loan; Rs.11,06,409/- claim; Shivam Sachdeva appointed Arbitrator; DIAC; Section 12(2) disclosure; petition disposed.
What did the court decide?
Appointment of Mr. Shivam Sachdeva, Advocate as Arbitrator to adjudicate the disputes between the Parties; the arbitration to take place under the aegis of the Delhi International Arbitration Centre (DIAC) abiding by its rules and regulations, with Arbitrator fees as per the DIAC Schedule of Fees; Arbitrator requested to file the requisite disclosure under Section 12(2) of the 1996 Act within a week of entering on reference; all rights and contentions of the parties in relation to claims/counter-claims kept open to be decided by the learned Arbitrator; petition disposed of along with pending application(s), if any.