Sustainable Agro-Commercial Finance Limited v. Vithoba Tukaram Varade And 3 ORS

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION APPLICATION NO.134 OF 2017 Sustainable Agro Commercial Finance Ltd.

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Applicant versus Vithoba Tukaram Varade and Ors.

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Respondents Mr. Yashpal M. Thakur, for Applicant.

None for Respondents.

CORAM: S.J. KATHAWALLA, J.

DATE: 22 nd FEBRUARY, 2018 P.C.:

1.

Perused the order dated 24 th January, 2018. Paragraph 7 of the said order reads as under :

"7.It is therefore clear that the Respondents have failed to appoint an Arbitrator to resolve their disputes. Hence, the following order :- i) The Court proposes to appoint Ms. Nelly Mehta, Advocate as a sole Arbitrator to decide the disputes between the Applicant and the Respondents arising out of the Loan-cum-Hypothecation Agreement dated 21st January, 2014. In view thereof, Ms. Nelly Mehta, Advocate shall submit her disclosure 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.

ii) The Advocate for the Applicant shall forward a copy of this order to Ms. Nelly Mehta, Advocate as well as to the Respondents by Speed Post/Registered Post A.D at their last known addresses.

iii) All concerned to act on an ordinary copy of this order, duly 1/3

authenticated by the Learned Associate of this Court.

Stand over to 9th February, 2018."

2.

The disclosure filed by Ms. Nelly Mehta, 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 (3 of 2016) is taken on record.

3.

Though a copy of the order dated 24th January, 2018 is served on the Respondents and an Affidavit proving service to that effect is filed in Court, the Respondents are not present in Court. In view thereof, I proceed to pass the following order :

(i) Ms. Nelly Mehta, Advocate is appointed as a sole arbitrator to decide the disputes between the Applicant and Respondents arising out of the Loan-cumHypothecation Agreement 21 st January, 2014.

(ii)The parties shall appear before the learned Arbitrator in her chambers, on 1 st March, 2018 at 5.00 p.m. and obtain necessary directions. (iii)The learned Arbitrator shall endeavour to pass her final Award within a period of four months from the date of this order. (iv) All contentions of the parties are kept open. (v) The cost of arbitration shall initially be borne by the parties equally. (vi) The venue of Arbitration shall be at Mumbai. 2/3

(vii)In view of this order, the above Arbitration Application is disposed of. (viii) A copy of this order shall be forthwith served on the Respondents by the Advocate for the Applicant by Speed Post/Registered Post A.D. and/or by hand delivery.

( S.J.KATHAWALLA, J. ) 3/3