Axis Finance Limited v. Vikram Gusain

$~15 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 1814/2024 AXIS FINANCE LIMITED .....Petitioner Through:

Mr. Abu John Mathew, Advocate versus VIKRAM GUSAIN .....Respondent Through:

None.

CORAM:

HON'BLE MR. JUSTICE MANOJ KUMAR OHRI

O R D E R

% 19.02.2025 1.

By way of present petition filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter, referred to as the 'A&C Act'), the petitioner seeks constitution of an Arbitral Tribunal comprising of a Sole arbitrator, to adjudicate the disputes between the parties. 2.

Learned counsel for the petitioner submits that the parties entered into a Loan Agreement dated 14.03.2023, Clause 14 of which provides that disputes arising between the parties shall be resolved by reference to arbitration. It further provides that seat of arbitration would be at Delhi/Mumbai.

3.

The petition is accompanied by notice invoking arbitration dated 26.09.2024 issued to the respondent under Section 21 of the A&C Act. 4.

On the last date of hearing, it was noted that respondent has been served. Today, neither the respondent is represented nor any reply has been filed on his behalf. It appears that the respondent has no objection in 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 24/02/2025 at 13:52:35

reference of the disputes to the Sole Arbitrator. 5.

Accordingly, present petition is disposed of with the following directions :- i) The disputes between the parties under the said agreement are referred to the DIAC.

ii) Accordingly, DIAC shall nominate a Sole Arbitrator to adjudicate the disputes between the parties.

iii) The arbitration will be held under the aegis of the Delhi International Arbitration Centre, Delhi High Court, Sher Shah Road, New Delhi (hereinafter, referred to as the 'DIAC'). The remuneration of the learned Arbitrator shall be in terms of DIAC (Administrative Cost and Arbitrators' Fees) Rules, 2018 or as the parties may agree. iii) The learned Arbitrator shall furnish a declaration in terms of Section 12 of the Act prior to entering into the reference. iv) It is made clear that all the rights and contentions of the parties, including on the existence and validity of the Arbitration agreement, arbitrability of any of the claim/counter claim, any other preliminary objection, need and legality of interim relief, as well as contentions on merits of the dispute by either of the parties, are left open for adjudication by the learned arbitrator.

vi) The parties shall approach the learned arbitrator within two weeks from today.

MANOJ KUMAR OHRI, J FEBRUARY 19, 2025 ga 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 24/02/2025 at 13:52:35