Mis Moneywise Financial Services Pvt. Ltd v. M/S Parshneel Fab Thrpough Its Proprietor And ANR
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IN THE HIGH COURT OF DELHI AT NEW DELHI
+ ARB.P. 122/2025 M/S MONEYWISE FINANCIAL SERVICES PVT. LTD .....Petitioner Through:
Ms. Preeti Kumari, Mr. Ranjeet Kumar, Advs.
versus M/S PARSHNEEL FAB THROUGH ITS PROPRIETOR AND ANR .....Respondent Through:
CORAM:
HON'BLE MR. JUSTICE JASMEET SINGH
O R D E R
% 23.07.2025 1.
This is a petition filed under section 11 of Arbitration and Conciliation Act, 1996 seeking appointment of an Arbitrator to adjudicate the disputes between the parties.
2.
The facts are that the petitioner had advanced a loan vide Master Loan Agreement dated 22.03.2021. Respondent No. 1 is the principal borrower and respondent No. 2 and respondent No. 3 are the coborrowers. The said Agreement contains an arbitration clause being clause No. 8.2 which reads as under:- "8.2. Arbitration: Any disputes, differences, controversies and questions directly or indirectly arising at any time hereafter between the Parties or their respective representatives or assigns, arising out of or in connection with this Agreement (or the subject matter of this Agreement), including, without limitation, any question The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
regarding its existence, validity, interpretation, construction, performance, enforcement, rights and liabilities of the Parties, or termination ("Dispute"), shall be referred to a sole arbitrator duly appointed by the Lender. The language of the arbitration shall be English. The seat of the arbitration shall be at New Delhi and the language of proceedings shall be English. The award rendered shall be in writing and shall set out the reasons for the arbitrator's decision. The costs and expenses of the arbitration shall be borne equally by each Party, with each Party paying for its own fees and costs including attorney fees, except as may be determined by the arbitration tribunal. Any award by the arbitration tribunal shall be final and binding."
3.
The petitioner issued Loan Recall Notice dated 15.11.2023 and thereafter, the notice invoking arbitration on 07.11.2024. Thereafter the present petition has been filed.
4.
The parties were referred to mediation but the mediation has failed. Hence, the petition is taken up for hearing.
5.
There is nobody appearing on behalf of the respondents and no reply has been filed by the respondents.
6.
I am of the view that there are dispute between the parties which need to be adjudicated through the arbitral mechanism. 7.
For the said reasons, the petition is allowed and the following directions are issued:- i) Mr. Arpan Wadhawan, Advocate (Mob. No. 9899662697) The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
is appointed as a Sole Arbitrator to adjudicate the disputes between the parties.
ii) The arbitration will be held under the aegis and rules of the Delhi International Arbitration Centre, Delhi High Court, Sher Shah Road, New Delhi (hereinafter, referred to as the 'DIAC').
iii)The remuneration of the learned Arbitrator shall be in terms of DIAC (Administrative Cost and Arbitrators' Fees) Rules, 2018.
iv)The learned Arbitrator is requested to furnish a declaration in terms of Section 12 of the Act prior to entering into the reference.
v) It is made clear that all the rights and contentions of the parties, including as to the arbitrability of any of the claim, any other preliminary objection, as well as claims/counterclaims and merits of the dispute of either of the parties, are left open for adjudication by the learned arbitrator. vi)The petitioner shall approach the learned Arbitrator within two weeks from today.
8.
The present petition is disposed of in the aforesaid terms. JASMEET SINGH, J JULY 23, 2025/AS The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.