Moneywise Financial Services Pvt Ltd v. Rmd Mediaids Limited Through Its Directors And ORS

$~10 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 1280/2024 & I.A. 36780/2024 MONEYWISE FINANCIAL SERVICES PVT LTD. .....Petitioner Through:

Ms. Mehvish Khan and Mr. Aman Choudhary, Advocates.

versus RMD MEDIAIDS LIMITED THROUGH ITS DIRECTORS AND ORS.

.....Respondents Through:

Mr. Syed Nooruzzama, Advocate.

CORAM:

HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD

O R D E R

% 07.10.2024 1.

Service report regarding service to Respondents No.2 and 3 has been filed. The Petitioner has filed a tracking report indicating Respondents No.2 and 3 have been served through courier service. However, the Court notice indicates that Respondent No.2 and 3 have refused to accept service. 2.

In view of the above, the service on the Respondents is complete. There is no appearance on behalf of the Respondents. 3.

The dispute has arisen between the parties in pursuance to a loan agreement entered into between the Petitioner and the Respondents. The Respondents are the borrowers. Clause 8.2 of the loan agreement contains an arbitration clause.

4.

Since dispute has arisen between the parties, this Court is inclined to appoint Mr. Shashwat Bajpai, Adv. (Mob. No.9811208936) as a Sole Arbitrator to adjudicate upon the disputes between the parties. 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 01/07/2025 at 23:56:31

5.

The arbitration would take place under the aegis of the Delhi International Arbitration Centre (DIAC) and would abide by its rules and regulations. The learned Arbitrator shall be entitled to fees as per the Schedule of Fees maintained by the DIAC.

6.

The learned Arbitrator is also requested to file the requisite disclosure under Section 12(2) of the 1996 Act within a week of entering on reference. 7.

All rights and contentions of the parties in relation to the claims/counter-claims are kept open, to be decided by the learned Arbitrator on their merits, in accordance with law.

8.

Needless to say, nothing in this order shall be construed as an expression of this Court on the merits of the contentions of the parties. 9.

The present petition stands disposed of in the above terms along with pending application(s), if any.

SUBRAMONIUM PRASAD, J OCTOBER 07, 2024 hsk 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 01/07/2025 at 23:56:31