Bharath Kumar Huf v. Jayaram Kotapadi

IN THE HIGH COURT OF JUDICATURE AT MADRAS

CORAM

Dated:09.12.2024 THE HONOURABLE MR.JUSTICE P.B.BALAJI 1.BHARATH KUMAR HUF Represented by its Kartha Bharath Kumar S/o Ramlal Ranka, Office/Residence at Flat No.1701, I Block, KLP Abhinandan Apartment's No.1, 30, Perambur Barracks Road, Jai Nagar, Pattalam, Choolai, Chennai-600 012.

2. G.Ramlal Ranka & Son HUF Represented by its Kartha Bharath Kumar, S/o Ramlal Ranka, Office/Residence at Flat No.1701, I Block, KLP Abhinandan Apartment's No.1, 30, Perambur Barracks Road, Jai Nagar, Pattalam, Choolai, Chennai-600 012.

3. VIKRAM RANKA HUF Represented by its Kartha Vikram Ranka, S/o Ramlal Ranka, Office/Residence at Flat No.1701, I Block, KLP Abhinandan Apartment's No.1, 30, Perambur Barracks Road, Jai Nagar, Pattalam, Choolai, Chennai-600 012.

... Petitioners 1/4

vs.

Jayaram Kotapadi Proprietor, M/s KJR Studios, Having Office at No.5, 4th Floor, Rapid Skyline, #8/14, Sri Krishnapuram Street, Royapettah, Chennai-600 014.

... Respondent PRAYER: Arbitration Original Petition filed under Sections 11 (6) of the Arbitration and Conciliation Act, 1996, to appoint a sole arbitrator to adjudicate over the dispute arising out of the Loan Agreement dated 18.02.2020 between the Petitioner and the Respondent. For Petitioners : Mr.R.Saravanan For Respondent : No appearance **********

ORDER

This Arbitration Original Petition has been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter called as 'the Act') to appoint an Arbitrator in respect of the dispute arising out of alleged violation of the Loan Agreement dated 18.02.2020 between the petitioner and the respondent company.

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2. I have heard Mr.R.Saravanan, learned counsel for the petitioner. There is no representation for the respondent.

3. The learned counsel for the petitioner would submit that the parties had agreed to refer to the disputes to Arbitration under the provisions of the Arbitration and Conciliation Act, 1996 and that such arbitration shall be held by a sole Arbitrator who shall be a retired District Judge or a retired High Court Judge. It is also agreed by the parties that the seat of Arbitration would be Chennai, Therefore, I am satisfied with the existence of Arbitration agreement between the parties.

4. The present Original Petition has been filed under Section 11 (6) for appointment of the sole Arbitrator. Accordingly, this Court is inclined to appoint a sole Arbitrator viz., Mr.K.Chandru, Hon'ble Judge (Retd), No.4-B, Kanchana, 78, St.Marys Road, Abriamapuram, Chennai-600 018 (Mobile No:9444390962) as the Sole Arbitrator. The sole Arbitrator is directed to enter upon reference and adjudicate the dispute in accordance with law. 3/4

P.B.BALAJI,J., sr

5. The learned Arbitrator is entitled to fix his fees as per the Schedule-IV to the Act. This Court further requests the learned Arbitrator to endeavor to decide the dispute as expeditiously as possible, however, not later than six (6) months from the date of his entering into reference.

6. Accordingly, this Arbitration Original Petition is allowed. 09.12.2024 sr Index : Yes / No Internet : Yes / No 4/4