Cholamandalam Investments And Finance Company Ltd v. Ram Nath Agarwal Radhey Lal

Arb.O.P.(Com.Div.)No.87 of 2024 P.B.BALAJI, J.

Today, this petition is listed under the caption, "For Being Spoken To".

2. This Court vide its order dated 03.09.2024, appointed Hon'ble Mr.Justice G.Chandrasekharan (Retired Judge of this Court) as Sole Arbitrator in this matter. However, the said Arbitrator has sent a Letter dated 23.10.2024 to the Registry, expressing his inability to act as an Arbitrator in this matter in view of his assumption of charge as Chairperson of the Debts Recovery Appellate Tribunal, Chennai

3. The learned counsel on either side have fairly submitted in unison that they have no objection for new Arbitrator to be appointed for continuing the arbitration proceedings and for resolving the dispute between the parties herein.

4. Upon hearing the learned counsel on either side, this Court suggested the name of Hon'ble Mr.Justice K.N.Basha (Retired Judge of this Court) for appointment as the Arbitrator. The learned counsel on both sides had agreed for the said suggestion.

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5. With the consent of the learned counsel on both sides, this Court is inclined to pass the following order:

(i) The Hon'ble Mr.Justice K.N.Basha (Retired Judge of this Court), residing at Flat No.F-1, "STAR", No.25/1, Dr.Ambedkar Road, (Old ICF Link Road), North Thirumalai Nagar, Villivakkam, Chennai - 600 049, Mobile No.9444454545 is appointed as new Arbitrator to enter upon reference and adjudicate the dispute inter se the parties. (ii) The newly appointed learned Arbitrator shall pass award within a period of six months from the date of receipt of a copy of this order, only after issuing notice to the parties and hearing them. (iii) The parties shall pay fees and other incidental charges to the newly appointed learned Arbitrator fixed by him, equally. (iv) In the event of non-appearance of the respondents before the learned Arbitrator, petitioner shall pay the entire remuneration and other expenses at first instance and thereafter, petitioner can recover the same directly from the respondents.

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P.B.BALAJI, J.

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