Debono Flexcom (India) Ltd. And 2 ORS. v. Indusind Bank Ltd.

904-ARBP-494-2019.DOC Digitally signed by KANCHAN PRASHANT DHURI Date:

2024.05.03 17:34:08 +0530

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

KANCHAN PRASHANT DHURI ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 494 OF 2019 Debono Flexcom (India) Limited and others ... Petitioners

Versus

IndusInd Bank Ltd.

...Respondent

Ms. Karishma Mungekar instructed by Mr. Sahil Mahajan for the Petitioners.

Ms. Bijal K. Gogri instructed by O.M. Gujar Law Chambers for the Respondent.

_______________________

CORAM:

FIRDOSH P. POONIWALLA, J.

DATED:

3rd MAY 2024 _______________________ P.C.

1.

This Petition has been filed to challenge the Award dated 14th November 2018 passed by the Arbitral Tribunal. 2.

The learned Counsel for the Respondent submits that the Respondent has no objection if the said Award dated 14th November 2018 is set aside and the matter is remanded back for fresh arbitration before the new Arbitrator.

3.

The learned Counsel for the Petitioners has no objection to the same.

4.

Accordingly, by consent of parties, the Award dated 14th November 2018 is set aside.

5.

Ms. Savita Ganoo, an Advocate practising in this Court is appointed as the Arbitrator to arbitrate upon the disputes and differences between the parties arising out of the Loan Agreement dated 20th December Kanchan P Dhuri page 1 of 2

904-ARBP-494-2019.DOC 2016. Details of Ms. Savita Ganoo, who is appointed as an Arbitrator are as under :

Name:- Ms. Savita Ganoo Mobile No. :- 9820450243 Email:- savitasadananda@gmail.com Address :- Office No.19, 1st Floor, Rohit Chambers, Janmabhoomi Marg, Fort, Mumbai - 400 001.

7.

The Advocates for the Petitioner shall intimate the Arbitrator about her appointment within a period of one week from the date of uploading of this order.

8.

The Office of the Prothonotary and Senior Master of this Court shall also intimate the Arbitrator about her appointment within a period of one week from the date of uploading of this order. 9.

Within a period of one week from the date of intimation of her appointment, the Arbitrator so appointed shall make a disclosure as required under Section 11 of the Arbitration and Conciliation Act, 1996. 10.

The Arbitrator shall charge fees as per the rules framed by this Court in that regard.

11.

Costs of the Arbitrator shall be equally borne by both the parties. 12.

Arbitration Petition is disposed of.

13.

There will be no order as to costs.

(FIRDOSH P. POONIWALLA, J.) Kanchan P Dhuri page 2 of 2