Axis Finance Limited v. Giga Innvoation Center & ORS.

$~17 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ ARB.P. 683/2025 AXIS FINANCE LIMITED .....Petitioner Through:

Mr. Ankush Bhardwaj & Mr. Shikhar Gupta, Advs.

versus GIGA INNVOATION CENTER & ORS.

.....Respondents Through:

None

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 22.07.2025 1.

This is a petition filed under Section 11 of the Arbitration and Conciliation Act, 1996 seeking appointment of an Arbitrator for adjudication of disputes between the parties arising out of a Loan Agreement No. 0456BLA00007209 dated 22.08.2024. 2.

The brief facts of the case are that the petitioner is a non-banking finance institution that advanced a loan by aforementioned Loan Agreement to the respondent No.1, who is the borrower and respondent nos. 2 and 3 who are the co borrowers. 3.

Since there were defaults, the petitioner issued a loan recall notice dated 06.03.2025 and invoked arbitration vide a legal notice dated 15.03.2025 and thereafter filed the present petition. 4.

As per the electronic audit trail of the respondents, the email IDs of all the three respondents are shayamram617@gmail.com. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

5.

The respondents have been served. Despite service, there is nobody appearing on behalf of the respondents.

6.

I am satisfied that there are disputes existing between the parties and the disputes are covered within the purview of the arbitration clause. 7.

For the said reasons, the petition is allowed and the following directions are issued:- i) Ms. Surbhi Aggarwal (Advocate) (Mob. No.9818426811) 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/counter-claims 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.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

8.

The present petition is disposed of in the aforesaid terms. JASMEET SINGH, J JULY 22, 2025/ (MS) The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.