Axis Bank Limited v. Nitesh Baliram Malunge

Arb. Application No.777 of 2024 C.V.KARTHIKEYAN, J.

In the affidavit filed in support of the application, there is no reference that the applicant would initiate arbitration proceedings. As a matter of fact, he had not issued notice under Section 21 of Arbitration and Conciliation Act, 1996.

2.The learned counsel stated that the loan had been terminated, but that is an issue between the parties. Without an undertaking given to initiate arbitration proceedings, the application under Section 9 of Arbitration and Conciliation Act, 1996 cannot be taken into consideration.

3.Accordingly, this Arbitration Application stands dismissed giving liberty to the applicant to file fresh application after issuing notice under Section 21 of the Act undertaking that he would initiate arbitration proceedings within a stipulated period of time.

08.11.2024 smv https://www.mhc.tn.gov.in/judis