India Factoring And Finance Solutions Private Limited v. Prity Tubes Private Limited And ORS

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 17 OF 2016 India Factoring and Finance Solutions Private Limited ..Petitioner Vs.

Prity Tubes Private Limited & Ors.

.. Respondents Mr.Vivek Patil i/b Vivek Patil and Associates for petitioner. Mr.Tejas Deshpande for respondent nos.1 to 6. CORAM : K.R.SHRIRAM, J.

DATE : 9TH NOVEMBER 2017 P.C.

At the outset, Mr.Tejas Deshpande undertakes to file Vakalatnama for Respondents within one week from today. Undertaking accepted. By consent, the following order is passed :

(i) Shri Pradip V. Bavkar (Retired Principal District Judge, having office at 16/12, New Bake House, Maharashtra Chambers of Commerce Lane, 3rd Floor, Office No.306, Kalaghoda, Mumbai, Telephone No. 022/22874322; Mobile No.9987239367 is appointed as sole Arbitrator. The Arbitrator to arbitrate on all disputes and differences, including counterclaim, if any, arising out of, in connection to and in relation with the Standard Factoring Agreement dated 27th September 2011.

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(ii) The fees, administrative expenses, typing charges and venue expenses of the Arbitrator shall be shared equally between parties, i.e., 50% by petitioner and 50% by respondent Nos. 1 to 6 to the arbitration proceedings and the same will be costs in the arbitration proceedings. (iii) Within four weeks of receiving a communication from the advocate for petitioner and/or respondent nos. 1 to 6, the Arbitrator shall give in writing to advocate for petitioner and advocate for respondents disclosure as required under Section (11)(8) read with Section 12(1) of the Arbitration and Conciliation Act, 1996 (The said Act).

(iv) The present petition be filed before the learned Arbitrator who shall hear the same as an application under Section 17 of the said Act.

(v) Petitioner is at liberty to file further documents and further pleadings before the Arbitrator.

Petition disposed accordingly.

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(K.R. SHRIRAM, J.) 3/3