Axis Finance Ltd v. V Harshini And ANR

$~43 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 1994/2024 AXIS FINANCE LTD .....Petitioner Through:

Mr. Ankush Bhardwaj, Adv.

versus V HARSHINI AND 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.

Though the service report is awaited, affidavit of service filed by petitioner states that respondents were served via E-mail. 3.

Counsel for petitioner states that the location of 'Business Loan Agreement' was at Delhi, as stated in the agreement, and as per Clause 35 of the Schedule II attached to the agreement, the seat for arbitration was to be Mumbai/Delhi and exclusive jurisdiction was conferred upon Courts at Mumbai/Delhi, which is 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.

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

the parties are left open for adjudication by the Sole Arbitrator. v) The parties shall approach the Sole Arbitrator within two weeks from today.

5.

The petition is disposed of.

6.

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