Allowed

M/S Tata Capital Financial Service Limited v. Sri E N Prakasha

Karnataka HC8 Nov 2023CMP/521/2022

Case brief

AI extract

What is this about?

Civil Misc. Petition filed under Sec.11(6) of the Arbitration and Conciliation Act, 1996 to appoint a retired District Judge as sole arbitrator under a Loan cum Hypothecation cum Guarantee Agreement. The Court allowed the petition and appointed Sri. K. M. Thammaiah as the sole arbitrator.

What did the court decide?

Appointment of Sri. K. M. Thammaiah (Retd. District Judge) as sole Arbitrator to conduct proceedings.

M/S Tata Capital Financial Service Limited Vs Sri E N Prakasha — Arbitration | Karnataka HC (2023)

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NC: 2023:KHC:40298 CMP No. 521 of 2022

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 8^TH DAY OF NOVEMBER, 2023

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BEFORE

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THE HON'BLE MR JUSTICE B M SHYAM PRASAD CIVIL MISC. PETITION NO. 521 OF 2022

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BETWEEN:

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M/S TATA CAPITAL FINANCIAL SERVICE LIMITED (EARLIER KNOWN AS TATA CAPITAL LTD.) NO.62, RICHMOND ROAD, II FLOOR, PRESTIGE CORNICHE, ABOVE SAPPHIRE TOYS, NEAR LIFE STYLE, BANGALORE 560025, REPRESENTED BY ITS LEGAL MANAGER AND AUTHORIZED REPRESENTATIVE SRI.RENU V

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…PETITIONER

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(BY SRI. SURESH V.,ADVOCATE)

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Digitally signed by NARASIMHA MURTHY VANAMALA Location: HIGH COURT OF KARNATAKA

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AND:

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SRI E N PRAKASHA

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S/O SRI NIJALINGAPPA, AGED ABOUT 45 YEARS, NO.252, BIDARAKERE, JAGALUR, NEAR TEMPLE, DAVANAGERE, KARNATAKA 577521.

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SUNITHA R

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NO.252, BIDARAKERE, JAGALUR, NEAR TEMPLE, DAVANAGERE,

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NC: 2023:KHC:40298 CMP No. 521 of 2022

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KARNATAKA 577521.

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…RESPONDENTS

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(BY SRI. M.R.HIREMATHAD, ADVOCATE; R2 SERVED)

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THIS CIVIL MISC. PETITION IS FILED UNDER SEC.11(6) OF THE ARBITRATION AND CONCILIATION ACT 1996, PRAYING TO APPOINT ANY LEARNED RETIRED DISTRICT JUDGE AS ARBITRATOR IN TERMS OF LOAN CUM HYPOTHECATION CUM GUARANTEE AGREEMENT DATED 14.02.201 AT ANNEXURE A AS PER ARBITRATION CLAUSE 23 TO REDRESS THE EXISTING DISPUTE BETWEEN THE PETITIONER AND THE RESPONDENT AS PER THE SEC.11(6) OF ARBITRATION AND CONCILIATION ACT AND FURTHER BE PLEASED TO GRANT SUCH OTHER APPROPRIATE ORDERS, RELIEFS, DIRECTIONS AS THE CASE MAY BE DEEM FIT IN THE CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE.

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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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This petition is filed for the appointment of a retired District Judge as a sole arbitrator relying upon the agreement for arbitration as contained in the Loan cum Hypothecation cum Guarantee Agreement dated 14.02.2019 [ Annexure-A ].

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The learned counsels for the parties, after being heard for sometime, submit in unison that the

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3 - NC: 2023:KHC:40298 CMP No. 521 of 2022

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petition could be allowed appointing a retired District Judge to enter reference of the dispute to be conducted at the Arbitration and Conciliation Centre, Bengaluru. In the light of this unanimous

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submission, the following:

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ORDER

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[a] The petition is allowed.

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[b] Sri. K. M. Thammaiah, a retired

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District Judge, 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 Centre.

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[c] The Registry is directed to communicate this order [by E-mail] to the Arbitration and Conciliation Centre

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NC: 2023:KHC:40298 CMP No. 521 of 2022

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(Domestic and International), Bengaluru and also to Sri. K. M. Thammaiah, a retired District Judge, Address: No.12, 14^th Main Road, 3^rd Cross, Judicial Layout, GKVK Post, Bengaluru – 560 065, [E-mail:[email protected] m] 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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M/S Tata Capital Financial Service Limited v. Sri E N Prakasha

Case brief

What is this about?

What did the court decide?

M/S Tata Capital Financial Service Limited v. Sri E N Prakasha

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

Coram

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