M/S. Prism Contractors, v. The Union Of India
Krishnan Ramasamy, J., This Court vide order dated 30.01.2024, appointed Hon'ble Mr.Justice C.T.Selvam, former Judge of this Court, as an Arbitrator to enter upon reference and adjudicate/resolve the inter se dispute between the parties.
2. Today, when the matter is taken up for hearing, the learned senior panel counsel appearing for the respondents submitted that the learned Judge has expressed his inability to continue as an Arbitrator and to that effect, the learned Judge sent a communication letter dated 13.03.2024 and the same is placed before this Court.
3. Taking into consideration of the letter and in view of the inability expressed by the learned Judge, this Court is inclined to substitute, the Arbitrator to resolve the dispute between the parties.
4. Accordingly, this Court passes the following orders:- 1/3
(a) The Hon'ble Mr.Justice M.Govindaraj, Former Judge, Madras High Court, Cell Nos.9444257157, 9444094403, No.4/225, South 2nd Cross Street, Sri Kapaleeshwarar Nagar, Neelankarai, Chennai 600 041, is appointed as an Arbitrator to enter upon reference and adjudicate the disputes between the parties, arising out of the above said loan agreement.
(b)The Sole Arbitrator shall initiate arbitration proceedings and after issuing notice to the parties concerned and upon hearing them, pass an award, on merits and in accordance with law and uninfluenced by any of the observations made in this order, within a period of six months from the date of receipt of a copy of this order.
(c) The Sole Arbitrator shall be paid fees and other incidental charges, as per the Schedule IV of the Act and the same shall be borne by both the parties equally. In the event of non-appearance of the Respondents, the Petitioner shall bear the entire remuneration and other expenses and thereafter, the Petitioner is at liberty to recover the same directly from the Respondents.
15.04.2024 Index:Yes/No Web:Yes/No Speaking/Non Speaking jd Note: Issue order copy on 23.04.2024.
2/3
KRISHNAN RAMASAMY.J jd Arb.OP(Com.Div)No.577 of 2023 15.04.2024 3/3