High Court of Punjab and HaryanaARB/313/2018disposed of

Kulbir Singh v. Kotak Mahindra Bank Ltd

2022-11-11Mr. Justice Raj Mohan Singh3 pages

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH ARB No. 313 of 2018 (O&M) Date of Decision: 11.11.2022 Kulbir Singh ......Petitioner Vs Kotak Mahindra Bank Ltd.

.....Respondent CORAM: HON'BLE MR. JUSTICE RAJ MOHAN SINGH Present:Mr. Bhavesh Aggarwal, Advocate, for Mr. Atul Goyal, Advocate for the petitioner.

Ms. Tuneet Walia, Advocate for the respondent.

**** RAJ MOHAN SINGH, J.(Oral) [1].

The petitioner has preferred this petition under Section 11(6) read with Section 14 of the Arbitration and Conciliation Act, 1996 for appointment of an arbitrator to adjudicate the dispute between the parties.

[2].

The loan agreement having arbitration clause is not in dispute between the parties.

[3].

During course of hearing, learned counsel for the

parties have arrived at a consensus that a retired judicial officer of the rank of District and Sessions Judge be appointed as an Arbitrator.

[4].

The petitioner has tentatively valued his claim to the tune of Rs.10-11 lacs.

[5].

In view of consensus arrived at between the parties, I deem it appropriate to appoint Sh. Karnail Singh Ahhi, District and Sessions Judge (Retd.), House No. 1193, Sector 43-B, Chandigarh, Mobile Nos. 8725941955, 9888211658 as the sole Arbitrator, to resolve the dispute/difference between the parties. The appointment of the Arbitrator shall be subject to the declaration to be made by him as required under Section 12 of Arbitration and Conciliation Act, 1996 in respect of his independence and impartiality to settle the dispute between the parties.

[6].

The Arbitrator would complete the proceedings within the specified time in terms of Section 29-A of the Act. The Arbitrator shall be paid fee in accordance with the IVth Schedule of the Act as amended from time to time. The fee shall be borne by both the parties equally.

[7].

The venue of the Arbitration shall be disclosed by the Arbitrator as per his/her convenience.

[8].

A copy of this order be dispatched to the Arbitrator at the following address:- Sh. Karnail Singh Ahhi, District and Sessions Judge (Retd.), House No. 1193, Sector 43-B, Chandigarh Mobile Nos. 8725941955, 9888211658 [9].

Petition stands disposed of accordingly.

(RAJ MOHAN SINGH) 11.11.2022 JUDGE Jyoti Sharma Whether speaking/reasoned Yes/No Whether reportable Yes/No