Allowed

Caterpillar Financial Services India Private Limited v. M/S Sudhir Constructions

Karnataka HC7 Jul 2022CMP/103/2022

Case brief

AI extract

What is this about?

In a civil miscellaneous petition under Section 11(6-A) of the Arbitration and Conciliation Act, 1996 filed by a financial service company against construction defendants, the High Court of Karnataka appointed a retired District Judge as the sole arbitrator to resolve loan disputes, noting the respondents' default in payment and absence.

What did the court decide?

Appointment of Shri M. Ramesh Rao, retired District Judge, as Sole Arbitrator to resolve disputes between the parties.

Caterpillar Financial Services India Private Limited Vs M/S… — Arbitration | Karnataka HC (2022)

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 07^TH DAY OF JULY 2022

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BEFORE

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THE HON’BLE MR. JUSTICE B. M. SHYAM PRASAD

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CIVIL MISCELLANEOUS PETITION NO.103/2022

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BETWEEN :

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CATERPILLAR FINANCIAL SERVICES INDIA PRIVATE LIMITED A COMPANY INCORPORATED AND REGISTRED UNDER COMPANIES ACT 1956 HAVING ITS REGISTRED OFFICE AT

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6^TH FLOOR, TOWER 'B' PRESTIGE SHANTHINIKETHAN THE BUSINESS PRECINT WHITEFILED MAIN ROAD BENGALURU - 560 048.

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... PETITIONER

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(BY SRI. THAKUR RISHABHA RAJ, ADVOCATE)

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AND :

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M/S SUDHIR CONSTRUCTIONS INFRA SPACE PVT. LTD 18, SAMASHISH BHVAN MULIK COMPLEX TENEMENT SOMALWAD NAGPUR, MAHARASTRA - 440 025.

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SHISHIR SUDHIRRAO KAHANDAR FLT NO 202 ALPS RESIDENTIAL PLOT NO 10 CENTRAL EXCISE COLONY

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ABOVE THE FLAVER RESTAURANT CHATTRAPATI SQUARE VIVIEKANAND NAGAR MAHARASTRA - 440 015.

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SHARAD SUDHIRAO KHANDAR PLOT NO 10, FLAT NO 20 ALPS RESIDENTIAL10, CENTRAL EXCISE COLONY ABOVE THE FLAVER RESTAURANT CHATRAPATI SQURE VIVEKANAND NAGAR, NAGPUR MAHARASTRA 440 015.

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... RESPONDENTS

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( R1 TO R3 SERVED UNREPRESENTED)

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THIS CIVIL MISCELLANEOUS PETITION IS FILED UNDER SEC.11(6-A) OF THE ARBITRATION AND CONCILIATION ACT, 1996 PRAYING TO APPOINT A SOLE ARBITRATOR TO RESOLVE THE DISPUTES AND DIFFERENCES AMONGST THE PARTIES IN TERMS OF CLAUSE 21 OF THE LOAN AND SECURITY AGREEMENT DATED 31.07.2019 VIDE ANNEXURE-B EXECUTED BETWEEN THE PETITIONER AND THE RESPONDENTS.

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THIS PETITION COMING ON FOR ADMISSION, THIS DAY, THE COURT MADE THE FOLLOWING:

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O R D E R

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The petitioner, who has extended certain financial assistance to the respondents under the Loan and Security Agreement executed in the month of July 2019, has sought for appointment of a Sole Arbitrator

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and for conduct of the proceedings at the Arbitration and Conciliation Centre (Domestic and International), Bengaluru. The loan agreement contemplates resolution of the disputes between the parties in accordance with the Arbitration and Conciliation Act 1996 and the Arbitration and Conciliation Centre Rules 2012.

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The learned counsel for the petitioner submits that the respondents have defaulted in paying the loan and as such, notice for commencement of arbitral proceedings is issued on 26.10.2021. The records also indicate that the respondents, though served with the notice of the present petition, have chosen to remain absent. The necessary conditions for exercise of jurisdiction under Section 11(5) of the Arbitration and Conciliation Act 1996 are satisfied. As requested by the learned counsel for the petitioner, a retired District

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Judge must be appointed as the Sole Arbitrator. Hence, the following:

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ORDER

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[a] The petition is allowed;

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[b] Shri M. Ramesh Rao, a retired District Judge, No.1193, Sri Ananda Nilaya, 10^th Cross, Ashokanagar, Bengaluru-560 050, is appointed as the Sole Arbitrator to enter reference of the dispute between the petitioner and respondents and conduct the

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proceeding at the Arbitration and Conciliation Centre (Domestic and

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International), Bengaluru according to the Rules governing the Arbitration and Conciliation Centre (Domestic and

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International), Bengaluru.

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[c] The Registry is directed to

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communicate this order to the Arbitration

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and Conciliation Centre (Domestic and International), Bengaluru and Shri M. Ramesh Rao, a retired District Judge, No.1193, Sri Ananda Nilaya, 10^th Cross, Ashokanagar, Bengaluru-560 050, as required under the Appointment of

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Arbitrators by the Chief Justice of Karnataka High Court Scheme, 1996.

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Sd/JUDGE

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SA/-

Caterpillar Financial Services India Private Limited v. M/S Sudhir Constructions

Case brief

What is this about?

What did the court decide?

Caterpillar Financial Services India Private Limited v. M/S Sudhir Constructions

Case brief

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What did the court decide?

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