M/S Moneywise Financial Services Pvt. Ltd. v. Mr Devinder Pal Proprietor of Malhotra Cycle Industries and Anr.
Case brief
What is this about?
ARB.P. 126/2026; High Court of Delhi; order dated 10.02.2026; Vikas Mahajan J; Section 11 Arbitration and Conciliation Act 1996; appointment of arbitrator; Section 12 declaration by arbitrator; prima facie existence of arbitration agreement; Master Loan Agreement dated 27.12.2021; Clause 8.2 arbitration clause; sole arbitrator appointed by Lender; seat New Delhi; DIAC; Delhi International Arbitration Centre; DIAC Rules; arbitrator Mr. Chetanya Puri, Advocate; petitioner M/s Moneywise Financial Services Pvt Ltd; respondents Mr. Devinder Pal, Proprietor of Malhotra Cycle Industries, and Kanta Rani; invocation notice dated 07.08.2025 unanswered; respondents deemed served via speed-post and courier tracking (consignments DEL203737279, DEL203737281 delivered 05.02.2026); no representation by respondents; petition allowed; disputes referred to arbitration.
What did the court decide?
Petition under Section 11 of the Arbitration and Conciliation Act, 1996 allowed; disputes between the parties referred to arbitration of Mr. Chetanya Puri, Advocate; arbitration to be held under the aegis of DIAC, Delhi High Court, Sher Shah Road, New Delhi – 110003 and governed by the DIAC Rules including as to remuneration of the Arbitrator; Arbitrator to furnish a declaration under Section 12 of the Act prior to entering upon the reference; all rights and contentions of the parties left open for adjudication by the learned Arbitrator; respondents, not having entered appearance, to be served in accordance with the DIAC Rules in the arbitration proceedings.