Allowed

Caterpillar Financial Services India Private Limited v. Tarun Kumar Koduri

Karnataka HC13 Jul 2022CMP/382/2022

Case brief

AI extract

What is this about?

Civil Miscellaneous Petition filed under Sec. 11(6A) of the Arbitration and Conciliation Act, 1996 to appoint a sole arbitrator under the Loan and Security Agreement. The Court allowed the petition and appointed Shri D. Krishnappa as the Sole Arbitrator to resolve disputes at the Arbitration and Conciliation Centre, Bengaluru.

What did the court decide?

Appointment of Shri D. Krishnappa, a retired District Judge, as the Sole Arbitrator to resolve the dispute at the Arbitration and Conciliation Centre, Bengaluru.

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

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 13^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.382/2022

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BETWEEN :

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CATERPILLAR FINANCIAL SERVICES INDIA PRIVATE LIMITED A COMPANY INCORPORATED AND REGISTERED UNDER THE COMPANIES ACT 1956 HAVING ITS REGISTERED OFFICE AT 6^TH FLOOR, TOWER B, PRESTIGE SHANTINIKETAN THE BUSINESS PRECINCT, WHITEFIELD MAIN ROAD BENGALURU KARNATAKA - 560 048.

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... PETITIONER

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(By SRI. RISHABHA RAJ THAKUR., ADVOCATE)

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AND :

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TARUN KUMAR KODURI PROPRIETOR -JAGABANDHU MUDUL AT- CHADHEIDHARA, PO-GADAMADHUPUR DIST-JAIPUR ODISHA-755023.

... RESPONDENT

(RESPONDENT SERVED)

THIS CIVIL MISCELLANEOUS PETITION IS FILED UNDER SEC. 11(6A) 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 12/11/2019 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 November, 2019, has sought for appointment of a Sole Arbitrator 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

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Conciliation Act 1996 and the Arbitration and

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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 11.02.2022. 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 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 D. Krishnappa, a retired District Judge, Address: No. 1028, 9^th B Main Road, Judicial Layout, GKVK Post, Bengaluru – 560 065, is appointed as the Sole Arbitrator to enter reference of the dispute between the petitioner and respondents and conduct the proceeding at the Arbitration and Conciliation Centre (Domestic and 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 communicate this order to the Arbitration and Conciliation Centre (Domestic and International), Bengaluru and Shri D. Krishnappa, a retired District Judge, Address: No. 1028, 9^th B Main Road,

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Judicial Layout, GKVK Post, Bengaluru – 560 065, as required under the Appointment of Arbitrators by the Chief Justice of Karnataka High Court Scheme, 1996.

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Sd/JUDGE

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SA/Ct:sr

Caterpillar Financial Services India Private Limited v. Tarun Kumar Koduri

Case brief

What is this about?

What did the court decide?

Caterpillar Financial Services India Private Limited v. Tarun Kumar Koduri

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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