Rashmi Housing Pvt. Ltd. & ORS. v. M/S Religare Finvest Ltd. & ANR.

$~30 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 226/2018 & I.A. No.3855/2018 RASHMI HOUSING PVT. LTD. & ORS.

..... Petitioners Through:

Mr.Jay Savla & Mr.Prabhat Kumar Chaurasia, Advs.

versus M/S RELIGARE FINVEST LTD. & ANR.

..... Respondents Through:

Mr.Saquib Arbab, Adv.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 15.05.2018 This petition under Section 11 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act') has been filed by the petitioner seeking appointment of an Arbitrator to adjudicate the disputes that have arisen between the petitioner and respondent no. 1 in relation to the Loan Agreement dated 31.07.2015 executed between the parties. The said Loan Agreement contains an Arbitration Agreement in form of Clause 20 thereof. The counsel for the respondent no. 1 submits that respondent no. 1 has no objection if an Arbitrator is appointed for adjudicating the disputes that have arisen between the parties.

In view of the above, I appoint Dr.Ram Kishan Yadav, Retired District & Sessions Judge (R/o A-353, 2nd Floor, Derawal Nagar, Delhi110009, Mobile: 9910384623) as a Sole Arbitrator for adjudicating the disputes that have arisen between the petitioner and respondent no. 1 in relation to the above mentioned Agreement. The Arbitrator shall give his disclosure statement in terms of Section 12 of the Act before proceeding

with the reference. The arbitration shall be conducted under the aegis of the Delhi International Arbitration Centre (DIAC) and the DIAC rules as to the procedure and the fees shall be applicable.

As the parties by mutual consent have agreed to the appointment of an Arbitrator, mandate of respondent no. 2 to act as an Arbitrator shall stand terminated.

The petition along with the application is allowed in the above terms and with no order as to cost.

NAVIN CHAWLA, J MAY 15, 2018/rv