Moneywise Financial Services Pvt Ltd v. Durga Tradelinks And ORS
$~5 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 1552/2025 MONEYWISE FINANCIAL SERVICES PVT LTD. .....Petitioner Through:
Mr. Pankaj Kumar, Advocate (through VC) versus DURGA TRADELINKS AND ORS.
.....Respondents Through:
None.
CORAM:
HON'BLE MS. JUSTICE MINI PUSHKARNA
O R D E R
% 06.05.2026 1.
The present petition has been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 ("Arbitration Act"), seeking appointment of a Sole Arbitrator for adjudication of the disputes between the th parties arising out of the Loan Agreement dated 27 March, 2024 ("Loan Agreement").
2.
This Court notes that the respondents have already been served. 3.
However, none appears for the respondents, despite service. 4.
The fact of service upon the respondents was also noted by this Court by way of the last order, i.e., 02nd April, 2026, which reads as under:
th January, 2026, wherein, it has been recorded that respondent no. 2 has been served through E-mail.
2. Learned counsel appearing for the petitioner submits that respondent no. 2 is the husband of respondent no. 3, who is the proprietor of respondent no. 1-Company.
"1. Attention of this Court is drawn to order dated 16 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
3. On pointed query by this Court, as regards the E-mail of respondent no. 2 being a confirmed E-mail, on which respondent no. 2 has been served, learned counsel appearing for the petitioner has drawn the attention of this Court to Schedule-I of the Loan Agreement dated 27th March, 2024, wherein the Email has been mentioned. The said Schedule of the Loan Agreement is reproduced as under:
4. Considering the aforesaid, it is manifest that all the respondents, stand served.
5. At this stage, learned counsel appearing for the petitioner submits that though notice under Section 21 of the Arbitration and Conciliation Act, 1996 ("Arbitration Act") was sent to the respondents vide E-mail dated 30th June, 2025, however, proof of service of the same is not available with the petitioner, and accordingly, the same has not been placed on The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
record.
6. He, thus, submits that a fresh notice has been sent to the respondents through E-mail on 31st March, 2026.
7. It is clarified that in case the respondents do not appear on the next date of hearing, this Court shall proceed to deal with the matter on the basis of the pleadings and documents on record.
8. Accordingly, re-notify on 06th May, 2026."
5.
Learned counsel appearing for the petitioner today submits that a fresh notice under Section 21 of the Arbitration Act has also been served upon the respondents through E-mail, which has been duly served upon nd them on 02 April, 2026.
6.
Since none appears for the respondents despite service of notice and no reply has been filed on their behalf, this Court proceeds with the matter. 7.
As per the facts on record, the petitioner had granted a loan of Rs. 30,35,823/- to the respondents vide the Loan Agreement, as per which, the respondents were to repay the loan in 36 equated monthly instalments, along with interest @ 19% per annum.
8.
Dispute arose between the parties, as the respondents failed to pay several instalments as per the terms and condition of the Loan Agreement. Therefore, the petitioner was constrained to issue the Loan Recall & Invocation of Arbitration Notice dated 09th June, 2025 as per Section 21 of the Arbitration Act.
9.
As noted above, the petitioner had served the said Notice invoking Arbitration upon the respondents, which stand duly served, and no response has been filed towards the same.
10.
At this stage, attention of this Court has been drawn to the Arbitration Clause, i.e., Clause 8.2 as contained in the Loan Agreement, which is reproduced as under:
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11.
Perusal of the aforesaid Arbitration Clause clearly shows that there is a valid Arbitration Agreement between the parties, whereby, the parties have agreed that the disputes shall be settled by arbitration, in accordance with the provisions of the Arbitration Act. Further, the seat of arbitration shall be at New Delhi.
12.
This Court records the statement made by learned counsel appearing for the petitioner that the petitioner has an approximate claim of Rs. 20,66,627.24/-.
13.
In view of the existence of a valid Arbitration Agreement between the parties as well as the disputes that have arisen between the parties, this Court is of the considered opinion that there is no impediment in appointment of an Arbitrator.
14.
Accordingly, considering the submissions made before this Court, the following directions are issued:
i.
Mr. Siddhant Nath, Advocate, (Mobile No.: 9910870397) is appointed as a Sole Arbitrator to adjudicate 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.
ii.
The remuneration of the Arbitrator shall be in terms of Schedule IV of the Arbitration Act.
iii.
The Arbitrator is requested to furnish a declaration in terms of Section 12 of the Act prior to entering into the reference. In the event there is any impediment to the Arbitrator's appointment on that count, the parties are given liberty to file an appropriate application before this Court.
iv.
It shall be open to the respondents to raise counter-claims, if any, in arbitration proceedings.
v.
It is made clear that all the rights and contentions of the parties, including, the arbitrability of any of the claims and/or counter-claims, any other preliminary objection, as well as claims on merits of the dispute of either of the parties, are left open for adjudication by the learned Arbitrator.
vi.
The parties shall approach the Arbitrator within two (2) weeks from today.
15.
Needless to state, nothing in this order shall be construed as an expression of this Court on the merits of the case. 16.
The petition is disposed of in the aforesaid terms. 17.
The Registry is directed to send a copy of this order to learned Arbitrator, for information and compliance.
MINI PUSHKARNA, J MAY 6, 2026 ak The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.