Kotak Mahindra Bank ltd., v. Udhayam Aquatics
Arbitration and Conciliation Act, 1996 – S.11 appointment petition (Madras High Court, Commercial Division)
Case brief
What is this about?
Section 11 Arbitration and Conciliation Act 1996 appointment of sole arbitrator; Madras High Court Commercial Division; overdraft facility agreement with arbitration clause (Contract No.5247107468 dated 20.09.2022); Section 21 pre-arbitration notice dated 31.12.2024; respondent's counsel raised no objection at hearing; appointment made on the strength of the arbitration agreement and nature of claim; arbitrator's fees left to Schedule-IV of the Act; request for expeditious disposal; no costs. Parties: Kotak Mahindra Bank ltd. v. Udhayam Aquatics; Bench: K.KUMARESH BABU, J. Useful for locating examples of consensual Section 11 referrals where the sole ground engaged by the Court is the existence of the arbitration clause in the underlying banking agreement.
What did the court decide?
Appointment of M/S.A.Angel Mary Thangam, Advocate, as Sole Arbitrator to enter upon the reference and resolve the disputes under the Overdraft Agreement dated 20.09.2022; arbitrator entitled to fix fees per Schedule-IV of the Act; petition ordered without costs.