Allowed

M/S Shriram Finance Limited v. Mr Mohan Babu S/O.Sampath

Madras HC11 Dec 2024Arb O.P(COM.DIV.)/465/2024

Case brief

AI extract

What is this about?

This order deals with an application for appointment of a sole arbitrator under Section 11(6) of the Arbitration and Conciliation Act, 1996, arising from a dispute under a loan agreement. The Court satisfied the existence of the arbitration agreement and appointed Mr. P.V.Balasubramaniam as the sole arbitrator, directing disposal within six months.

What did the court decide?

Appointment of Mr. P.V.Balasubramaniam as the sole arbitrator; entry upon reference; decision within six months.

M/S Shriram Finance Limited Vs Mr Mohan Babu S/O.Sampath — Arbitration | Madras HC (2024)

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Arb.O.P.(Comm.Div.) No.465 of 2024

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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Dated: 11/12/2024

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C O R A M

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THE HONOURABLE Mr.JUSTICE P.B.BALAJI

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Arb.O.P.(Comm.Div.) No.465 of 2024

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M/s.Shriram Finance Limited (Formerly known as M/s.Shriram Transport Finance Company Limited) rep. By its Authorised Signatory Mr.M.Sakthivel New No.70 Old No.27, S-4 II Floor North Mada Street Mylapore Chennai 600 004. ...

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Chennai 600 004. ... Petitioner Vs 1. Mohan Babu 2. Sampath ... Respondents

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PRAYER : Arbitration Original Petition filed under Section 11 (6) of the Arbitration and Conciliation Act, 1996, to appoint a sole arbitrator to adjudicate upon the differences and disputes between the parties under the said Loan-cum-Hypothecation agreement dated 26/6/2018.

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https://www.mhc.tn.gov.in/judis

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Arb.O.P.(Comm.Div.) No.465 of 2024

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For petitioner ... Ms.A.S.Neela Narayani For respondents ... Ms.S.Lavanya

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O R D E R

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This Arbitration Original Petition has been filed under Section 11(6)

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of the Arbitration and Conciliation Act, 1996 (hereinafter called as 'the Act') to appoint an Arbitrator in respect of the dispute arising out of alleged Loan-

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cum-Hypothecation Agreement dated 26/6/2018 between the petitioner and respondents.

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Heard Ms.A.S.Neela Narayani, learned counsel for the petitioner

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and Ms.Lakshmi Vijayakumar, learned counsel for the respondents.

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The learned counsel for the petitioner would take me through the Loan-cum-agreement dated 26/6/2018, the fact that the parties had agreed to refer to the disputes to Arbitration under the provisions of the Arbitration and Conciliation Act, 1996 and that such arbitration shall be held by a sole Arbitrator. It is also agreed by the parties that the seat of Arbitration would be Chennai, Therefore, I am satisfied with the existence of Arbitration agreement between the parties.

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https://www.mhc.tn.gov.in/judis

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Arb.O.P.(Comm.Div.) No.465 of 2024

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Accordingly, this Court is inclined to appoint a sole Arbitrator viz.,

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Mr.P.V.Balasubramaniam, Advocate, having address at III/1, Third Floor, Sai Durbar Apartments, 50, II Main Road, R.A.Puram, Chennai 600 028 (Cell:98410 41888), as th e Sole Arbitrator. The sole Arbitrator is directed to enter upon reference and adjudicate the dispute in accordance with law.

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The learned Arbitrator is entitled to fix his fees as per the ScheduleIV to the Act. This Court further requests the learned Arbitrator to endeavor to decide the dispute as expeditiously as possible, however, not later than six

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(6) months from the date of his entering into reference.

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Accordingly, this Arbitration Original Petition is allowed.

11/12/2024

mvs.

Index : Yes / No

Neutral Citation: Yes / No

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https://www.mhc.tn.gov.in/judis

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Arb.O.P.(Comm.Div.) No.465 of 2024

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P.B.BALAJI,J

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mvs.

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Arb.O.P.(Comm.Div.) No.465 of 2024

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11/12/2024

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https://www.mhc.tn.gov.in/judis

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M/S Shriram Finance Limited v. Mr Mohan Babu S/O.Sampath

Case brief

What is this about?

What did the court decide?

M/S Shriram Finance Limited v. Mr Mohan Babu S/O.Sampath

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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