Allowed

Caterpillar Financial Services India Private Limited v. Narasimhulu T

Karnataka HC18 Nov 2022CMP/567/2022

Case brief

AI extract

What is this about?

The High Court of Karnataka appointed a retired District Judge as sole arbitrator under Section 11 of the Arbitration Act to resolve loan disputes between the petitioner and respondents, allowing the petition and directing venue at the Dispute Resolution Centre.

What did the court decide?

Appointment of Shri C. G. Hungund as sole arbitrator; proceedings to be conducted at Arbitration and Conciliation Centre, Bengaluru.

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

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18^TH DAY OF NOVEMBER, 2022

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BEFORE

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THE HON'BLE MR JUSTICE B M SHYAM PRASAD CIVIL MISC. PETITION NO. 567 OF 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 6TH FLOOR, TOWER B PRESTIGE SHANTINIKETAN, THE BUSINESS PRECINCT WHITEFIELD MAIN ROAD, BENGALURU KARNATAKA-560048

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…PETITIONER

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(BY SRI. THAKUR RISHABHA RAJ. and SRI. RAGHUNATH J, ADVOCATES)

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AND:

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NARASIMHULU T

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S/O TELUGU NARSIMHULU 4-34 B C COLONY BIJJAWARAM, BIJWAR MAHABUBNAGAR BIJJAWARAM TELANGANA-509132 EMAIL [email protected] MOBILE NO.9160719596

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RANGANNA PILLIMUKKU H NO.1-14, EERLA BANDA DHARUR MANDALAM ERLABANDA PATHAPALEM MAHABAUBNAGAR, PATHAPALEM ANDHRA PRADESH-509125

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…RESPONDENTS

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(RESPONDENTS SERVED-UNREPRESENTED)

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THIS CIVIL MISC. 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 14/07/2020 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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ORDER

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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 2020, 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 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 15.01.2022. 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 C. G. Hungund, a retired District Judge,

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Address: #125, ‘Shiva’, 14th Main, 22nd Cross Judicial Layout, Yalahanka, (GKVK Post), Bengaluru-560 065, is appointed as the Sole Arbitrator to enter reference of the dispute

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between the petitioner and the 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 International), Bengaluru.

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[c] The Registry is directed to communicate this order [by E-mail] to the Arbitration and Conciliation Centre (Domestic and International), Bengaluru and also to Shri C. G. Hungund, a retired District Judge, 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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Caterpillar Financial Services India Private Limited v. Narasimhulu T

Case brief

What is this about?

What did the court decide?

Caterpillar Financial Services India Private Limited v. Narasimhulu T

Case brief

What is this about?

What did the court decide?

What the court decided

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