M/S Shriram Finance Limited v. M/S Coral Steel

1/7

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 13-10-2025

CORAM

THE HONOURABLE MR JUSTICE N. ANAND VENKATESH M/s Shriram Finance Limited (Formerly M/s. Shriram City Union finance Ltd) Having its office at No145, Santhome High Road Mylapore, Chennai 600 004.

Represented by its Authorised Signatory Mrs.C.Gracy Petitioner(s) Vs 1.M/s Coral Steel Rep.by its partner Mr.Joseph Selvaraj, No.17, Cemetry Road, Opp. Govt. Smart School, Old Wahsermenpet, Chennai 600021 2.Mr.Joseph Selvaraj 3.Mrs.Sharmila Devi Respondent(s)

2/7 PRAYER Petition filed under Section 11 of the Arbitration and Conciliation Act, praying to appoint any fit and competent person as an arbitrator as per the provisions of the Arbitration and Conciliation Act, 1996, so as to adjudicate the claim and the dispute between the petitioner and the respondents under the loan agreement dated 30.07.2022; b) direct the respondents to pay the cost of the petition.

For Appellant(s):

Ms.R.Uma Shankar

ORDER

This petition has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 (for the sake of brevity, hereinafter referred to as ' the Act') seeking for the appointment of an Arbitrator by this Court. 2.When the matter came up for hearing on 28.08.2025, this Court passed the following order:

This petition has been filed under Section 11 of the Arbitration and Conciliation Act, seeking for appointment of an arbitrator by this Court.

3/7

2. There seems to be a dispute between the petitioner and the respondents, arising out of the loan agreement dated 30.07.2022. In the said agreement, there exists an arbitration clause, which is extracted hereunder:

3. The petitioner has invoked arbitration in accordance with the arbitration clause by issuing notice to the respondents on 11.06.2025 to comply with the requirements of Section 21 of the Arbitration and Conciliation Act, 1996. No reply has been received for the same.

4/7

4. Since there exists an arbitration clause in the contract, which is the subject matter of the dispute between the parties and since the petitioner has invoked arbitration in accordance with the arbitration clause by complying with the requirements of Section 21 of the Arbitration and Conciliation Act, 1996 and since there is no consensus between the parties with regard to the name of the arbitrator, this Court is issuing notice to the respondents, returnable by 25.09.2025. Private notice is also permitted. 3.Notice has been served on the respondents and their names have also been printed in the cause list. There is no representation either in person or through counsel.

4.It is seen that there is an existence of a valid agreement under Section 7 of the Act and it contains an arbitration clause. Therefore, all the other issues can be raised before the learned Arbitrator who shall deal with the same on its own merits and in accordance with law.

5.In view of the above, this Court is inclined to to appoint a sole Arbitrator. T.M.Pappaiah, Advocate, No.276, New Additional Law

5/7 Chambers, High Court, Chennai 600 104. Mobile:94443 69569, eMail:tmpappiah@gmail.com is appointed as sole Arbitrator. The sole Arbitrator is requested to enter upon reference, adjudicate upon arbitrable disputes that have arisen between the parties. The Arbitrator shall holds sittings in the 'Madras High Court Arbitration Centre under the aegis of this Court' (MHCAC) as per Madras High Court Arbitration Proceedings Rules 2017 and fee of Hon'ble sole Arbitrator shall be in accordance with the Madras High Court Arbitration Centre (MHCAC) (Administrative Cost and Arbitrator's Fees) Rules 2017.

6.This petition is disposed of in the above terms. No Costs. 13-10-2025 Index:Yes/No Speaking/Non-speaking order Internet:Yes ssr

6/7 To 1.T.M.Pappaiah, Advocate, No.276, New Additional Law Chambers, High Court, Chennai 600 104.

Mobile:94443 69569 eMail:tmpappiah@gmail.com 2.The Director Tamil Nadu Mediation and Conciliation Centre-cum-Ex-Officio Member Madras High Court Arbitration Centre Chennai - 104.

7/7 N.ANAND VENKATESH J.

ssr 13-10-2025