Magic Motors, Thr. Its Partner Nishant Prakashchandra Bhutada And ANR. v. Bajaj Finance Limited

kpd 1 / 2 501-ARP-42-2018.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

APPELLATE SIDE CIVIL JURISDICTION ARBITRATION PETITION NO. 42 OF 2018 Magic Motors ...

Petitioner

Versus

Bajaj Finance Limited ...

Respondent Mr. Avinash Fatangare for the Petitioner.

Mr. Chinmay Gupte instructed by Mr. Mohit Gadkari & Co. for the Respondent. CORAM : S.J. KATHAWALLA, J.

DATED : 20 th JUNE, 2018 P.C.:

1.

Heard the Learned Advocates appearing for the parties and the following order is passed, by consent :- (a) Mr. Minoo Siodia, Advocate is appointed as the sole Arbitrator to decide the disputes between the parties arising out of the Loan Agreements No.407LAP00049713 dated 30 th April, 2012, No.407LAP01173826 dated 26 th November, 2013 and No.407LAP07577098 dated 28 th January, 2015.

(b) The disputes under the three Agreements shall be treated as three separate references by the Learned Arbitrator. (c) The disclosures of Mr. Minoo Siodia, Advocate under Section 11(8) read with Section 12(1) of the Arbitration and Conciliation Act, 1996 as amended by the Arbitration and Conciliation (Amendment) Act, 2015 (Act No.3 of 2016) are taken on record.

kpd 2 / 2 501-ARP-42-2018.doc (d) The parties and/or their Advocates shall appear before the Learned Arbitrator in his Chambers on 25 th June, 2018 at 5.00 p.m. and obtain necessary directions.

(e) The venue of arbitration shall be at Mumbai.

(f) The Learned Arbitrator shall endeavour to pass his final Award within a period of six months from today. The Learned Arbitrator shall not grant adjournment/s to the parties unless absolutely necessary. (g) The cost of arbitration shall initially be borne by the parties equally. (h) All contentions of the parties are kept open. 2.

In view of this order, the above Arbitration Petition is disposed off. ( S.J.KATHAWALLA, J. )