Allowed

Caterpillar Financial Services India Private Limited v. Shree Balaji Enterprises

Karnataka HC16 Nov 2022CMP/59/2022

Case brief

AI extract

What is this about?

The High Court of Karnataka allowed a Civil Miscellaneous Petition under Section 11(6A) of the Arbitration and Conciliation Act 1996 to appoint a retired District Judge as the sole arbitrator between the petitioner lender and respondent borrowers, finding jurisdiction satisfied despite the respondents' absence.

What did the court decide?

Appointment of Shri. Basavantharaya Patil, Retd. District Judge, as Sole Arbitrator to conduct proceedings at the Arbitration and Conciliation Centre, Bengaluru.

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

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 16^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. 59 OF 2022

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BETWEEN:

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CATERPILLAR FINANCIAL SERVICES INDIA PRIVATE LIMITED A COMPANY INCORPORATED AND REGISTERED UNDER

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THE COMPANIES ACT 1956, HAVING ITS REGISTERED OFFICE AT 6^TH 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. RISHABHA RAJ THAKUR AND SRI RAGHUNATH J., ADVOCATES)

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AND:

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SHREE BALAJI ENTERPRISES PROP. BHAGWAN SINGH GUJARWADA FATHEGARH MANOHARPURA, AJMER RAJASTHAN - 305 412 EMAIL:[email protected]

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SHIV SINGH RATHORE S/O. MANSINGH RATHORE GUJARWADA FATHEGARH

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MANOHARPURA, AJMER, RAJASTHAN - 305412.

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…RESPONDENTS

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(SERVED - UNREPRESENTED)

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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 DISPUTE AND DIFFERENCES AMONGST THE PARTIES IN TERMS OF CLAUSE 21 OF THE LOAN AND SECURITY AGREEMENT DATED 31/01/2021 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 February 2021, 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

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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 25.10.2021. 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 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. Basavantharaya Patil, a retired District Judge, Address:No.1889, Bheemalakshmi, 7^th Main, 7^th Cross, Judicial Layout, G.K.V.K. Post, Bengaluru – 560 065, is appointed as the Sole Arbitrator to enter reference of the dispute between the petitioner and the respondent 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 [by E-mail] to the Arbitration and Conciliation Centre (Domestic and International), Bengaluru and also to Shri. Basavantharaya Patil, a retired

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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. Shree Balaji Enterprises

Case brief

What is this about?

What did the court decide?

Caterpillar Financial Services India Private Limited v. Shree Balaji Enterprises

Case brief

What is this about?

What did the court decide?

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