Axis Finance Limited v. Nitish Bhaskar & ANR.

$~42 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 1986/2024 AXIS FINANCE LIMITED .....Petitioner Through:

Mr. Ankush Bhardwaj, Adv.

versus NITISH BHASKAR & ANR.

.....Respondents Through:

None

CORAM:

HON'BLE MR. JUSTICE ANISH DAYAL

O R D E R

% 21.02.2025 1.

Notices have been issued to respondents.

2.

Service report states that e-mail by the Registry has been served, also, affidavit of service has been filed by petitioner, as per which, respondents were served through e-mail.

3.

Counsel for petitioner states that location of the agreement was at Delhi and Clause 14 provides for the Seat of arbitration to be in Delhi/Mumbai as well as the jurisdiction of Courts in Delhi/Mumbai. Clause 14 & 15 is extracted as under:

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

4.

As per the notice of invocation dated 3rd October 2024, demand made by petitioner was of Rs.36,73,662/- towards the loan/credit facility granted to borrowers/respondents along with interest.

5.

For the said reasons, the petition is allowed and the following directions are issued:

i) Ms. Liza Baruah, Advocate (Mob. No. 9871516338) is appointed as a Sole Arbitrator to adjudicate the disputes between the parties. ii) The arbitration will be held under the aegis of the Delhi International The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

Arbitration Centre, Delhi High Court, Sher Shah Road, New Delhi ('DIAC'). The remuneration of the learned Arbitrator shall be in terms of the Fourth Schedule of the A&C Act.

iii) The Sole Arbitrator is requested to furnish a declaration in terms of Section 12 of the A&C Act prior to entering into the reference. iv) It is made clear that all the rights and contentions of the parties, including the arbitrability/maintainability of any of the claim, any other preliminary objection, as well as claims on merits of the dispute by either of the parties are left open for adjudication by the Sole Arbitrator. v) The parties shall approach the Sole Arbitrator within two weeks from today.

6.

The petition is disposed of.

7.

Order be uploaded on the website of this Court. ANISH DAYAL, J FEBRUARY 21, 2025/ak The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.