M/S Moneywise Financial Pvt Ltd v. Garg Steel Traders And ORS

$~2 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 1080/2025 & I.A. 23646/2025 M/S MONEYWISE FINANCIAL PVT LTD .....Petitioner Through:

Mr.

Ranjeet Kumar, Advocate (Through VC) versus GARG STEEL TRADERS AND ORS .....Respondents Through:

None.

CORAM:

HON'BLE MR. JUSTICE AVNEESH JHINGAN

O R D E R

% 27.04.2026 1.

The present petition is filed under Section 11 of the Arbitration and Conciliation Act, 1996 (for short 'the Act') for appointment of an arbitrator. 2.

A Master Loan Agreement was executed between the parties to the lis on 30.11.2021, pursuant to which the loan amount was duly sanctioned and disbursed to the respondent. The respondent defaulted in payment of the second installment due on 05.02.2022 and subsequently breached the terms of the Loan Agreement on 30.06.2022. Owing to these defaults, the Petitioner issued a Loan Recall Notice. During the financial year 2023-24, the petitioner also initiated three proceedings under Section 138 of the Negotiable Instruments Act, 1881 against the Respondents. Clause 8.2 of the agreement provides for dispute resolution through arbitration. Thereafter, the petitioner invoked arbitration by issuing a legal notice dated 10.03.2025 (sent on 18.03.2025 via speed post and on 22.03.2025 via email), while also expressing willingness to amicably resolve the dispute, which arises from an 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 29/04/2026 at 12:25:09

admitted outstanding amount. Despite receipt of the said notices, the respondents failed to respond or make payment of the admitted dues. Hence, the present petition.

3.

Even today, the respondents are unrepresented and are proceeded ex parte.

4.

Accordingly, the petition is allowed by appointing Mr. Sandeep Kumar, Advocate (Mobile No. 8899592346) as the sole arbitrator for adjudication of the disputes which have arisen between the parties. 5.

The fees of the learned Arbitrator will be governed by Schedule IV of the Act. Before entering upon reference, the learned Arbitrator will comply with Section 12 of the Act.

6.

It is made clear that since this Court has not expressed any opinion on the merits of the rival claims of the parties, it will be open for the parties to file their respective claims/counter claims before the learned Arbitrator which will be considered in accordance with law. 7.

A copy of this order be forwarded to the learned Arbitrator for information.

AVNEESH JHINGAN, J APRIL 27, 2026 NA 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 29/04/2026 at 12:25:09