Sudha A Arunsegar v. Equitas Small Finance Bank Limited

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 26.11.2025

CORAM

THE HONOURABLE MR.JUSTICE N.ANAND VENKATESH and Application No.5346 of 2025 1.Sudha A Arunsegar W/o.Arunsegar 2.Arunsegar S/o.Sinivasalu ... Petitioners Vs.

M/s.Equitas Small Finance Bank Limited, Spencer Plaza, 4th Floor, Phase-II, No.769, Mount Road, Anna Salai, Chennai - 600 002.

... Respondent Arbitration Original Petition filed under Section 34(2)(a)(iii) of the Arbitration and Conciliation Act, 1996, praying to set aside the Arbitral Award dated 21.03.2025 passed in ACP. (Equitas-LAP) 1/5

No.VRB/EQ/26/2024 by the Sole Arbitrator.

For Petitioners : Mrs.S.Tamilselvi For Respondent :: Mr.A.Damodaran *****

ORDER

This petition has been filed under Section 34 of the Arbitration and Conciliation Act, 1996 [for brevity 'the Act'] to set aside the arbitral award dated 21.03.2025 passed by the Sole Arbitrator.

2. When the petition came up for hearing on 04.11.2025, this Court passed the following order:

"Notice to the respondent returnable by 26.11.2025. Private notice is also permitted.

2. The petitioners have challenged the award passed by the Sole Arbitrator on two grounds. The first ground is that no notice was served on the petitioners and they were set ex parte and an ex parte award was passed. The second ground is that there was unilateral appointment of arbitrator by the respondent, which runs against the judgment of the Apex Court in Perkins Eastman Architects DPC v. HSCC (India) Ltd. [(2020) 20 SCC 760]. 2/5

3. A prima facie case has been made out. Hence, there shall be an order of interim stay pending disposal of the present petition.

Post this petition under the caption 'for orders' on 26.11.2025."

3. After service of notice, the matter was taken up for hearing today.

4. Learned counsel for respondent submitted that the amount has been settled by petitioners and the account has been closed on 19.07.2025.

5. In the light of the above development, the award passed by the Sole Arbitrator dated 21.03.2025 is hereby set aside and this Court records the fact that the amount has been settled by petitioners and the 3/5

account has also been closed by the respondent. This original petition is disposed of in the above terms. Consequently, connected application is closed. 26.11.2025 gm N.ANAND VENKATESH, J.

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