Sandeep Bhardwaj v. Kotak Mahindra Bank Ltd

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ EFA(COMM) 7/2023 and CM APPL. 40058/2023 SANDEEP BHARDWAJ ..... Appellant Through:

Mr M.P. Bhargava and Dr Anurag Bhardwaj, Advocates.

versus KOTAK MAHINDRA BANK LTD.

..... Respondent Through:

Ms Sandhaya Chawla, Advocate

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MS. JUSTICE TARA VITASTA GANJU

O R D E R

% 04.03.2024 1.

The learned counsel appearing for the respondent states that she has instructions that the respondent will not proceed with the execution and the arbitral award be set aside. The present appeal arises out of an order dated 19.07.2023 whereby, the appellant's objections that the arbitral award sought to be enforced was non-est and was liable to be set aside, was rejected. The learned Commercial Court had rejected the contention on the ground that the petition under Section 34 of the Arbitration and Conciliation Act, 1996 was not maintainable.

2.

It is the appellant's case that the award was rendered by an arbitrator, who was appointed unilaterally without reference or concurrence of the appellant and therefore, the award rendered was unenforceable. 3.

In view of the statement made by the learned counsel for the respondent, the impugned order is set aside. The execution proceedings [Execution (Comm.) 3/2023 captioned Kotak Mahindra Bank Ltd. v. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 07/03/2024 at 11:36:06

Sandeep Bhardwaj, decided on 19.05.2023) is also terminated. 4.

The appeal is disposed of in the aforesaid terms. The pending application is also disposed of.

VIBHU BAKHRU, J TARA VITASTA GANJU, J MARCH 04, 2024 RK The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 07/03/2024 at 11:36:06