Axis Finance Limited v. Krishna Da & ANR.

$~3 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 1965/2024 AXIS FINANCE LIMITED .....Petitioner Through:

Mr.

Ankush Bharadwaj, Ms.

Vanshika Garg, Mr. Vedanta Rawat, Advocates versus KRISHNA DA & ANR.

.....Respondents Through:

CORAM:

HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD

O R D E R

% 05.12.2025 1.

This Petition has been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 seeking appointment of an Arbitrator to adjudicate on the disputes which have arisen between the parties under the Loan Agreement dated 17.12.2022.

2.

It is stated that under the said Agreement, the Petitioner, which is a non-banking financial company, has sanctioned a personal loan facility of Rs.31,28,537/- to the Respondents. It is stated that the Respondents have failed to comply with their obligations and, therefore, disputes have arisen between the parties. It is also stated that a Loan Recall Notice was issued to the Respondents to pay the outstanding amount as on date about Rs.31,47,678/- is due and payable.

3.

A notice dated 03.10.2024 under Section 21 of the Arbitration and The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

Conciliation Act, 1996, was sent by the Petitioner to the Respondents invoking Arbitration. It is stated that Clause 14 of the Agreement contains an Arbitration Clause which provides that disputes arising between the parties under the Agreement shall be decided by means of Arbitration and the seat of Arbitration shall be Delhi. The Petitioner has, therefore, approached this Court by filing the present Petition. 4.

Notice in the Petition was issued on 09.12.2024. Affidavit of service has been filed. The affidavit of service indicates that the Respondents have been served through publication. The postal report has also been enclosed along with the affidavit of service. Despite service there is no appearance on behalf of the Respondents.

5.

In view of the fact that disputes have arisen between the parties and there is an arbitration clause in the Agreement, this Court is inclined to appoint an Arbitrator to adjudicate upon the disputes between the parties. 6.

Accordingly, Mr. Karthik Dev, Adv. (Mob: 7982732837) is appointed as the Sole Arbitrator to adjudicate upon the disputes between the parties. 7.

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.

8.

The learned Arbitrator is also requested to file the requisite disclosure under Section 12(2) of the Arbitration & Conciliation Act within two weeks of entering the reference.

9.

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.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

10.

Needless to say, nothing in this order shall be construed as an expression on the merits.

11.

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

SUBRAMONIUM PRASAD, J DECEMBER 5, 2025 Prateek The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.