Sanjaykumar Madhusudan Yadav v. Piramal Capital And Housing Finance Ltd

3.ARBP.155.2024.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL APPELLATE JURISDICTION ARBITRATION PETITION NO.155 OF 2024 Sanjaykumar Madhusudan Yadav

...Petitioner

Versus

Piramal Capital & Housing Finance Ltd.

...Respondent

Mr. Satyaprakash Sharma a/w. Harpreet Kaur Sethi i/b. Global Juris, Advocates for Petitioner.

None for the Respondents.

CORAM: SOMASEKHAR SUNDARESAN, J.

DATE : MARCH 18, 2025 PC :

1.

This is a Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 ("the Act").

2.

The issue that arises for consideration in this Petition relate to the existence of a tripartite agreement, by which the Petitioner, who is a borrower from the Respondent, contends that the loan extended by the Respondent was meant to be serviced by the Developer. In these circumstances, he would submit that although he had raised the issue of the tripartite agreement being at the core of the dispute before the unilaterally appointed sole arbitrator, the tripartite agreement was not by AARTI GAJANAN PALKAR Date:

2025.03.20 18:36:40 +0530 brought on record and was not dealt with.

AARTI GAJANAN PALKAR MARCH 18, 2025 Aarti Palkar

3.ARBP.155.2024.doc 3.

In these circumstances, Learned Counsel for the Petitioner submits that he would need not more than 20 minutes for final hearing of the matter and the Respondent shall take no longer than 20 minutes for verbal arguments in the matter.

4.

Towards this end, the parties shall file a short Note on Submissions, not exceeding five pages, along with page and case law references, setting out the manner in which the points canvassed by them ought to be accepted by this Court.

5.

It is made clear that the time commitments made above shall bind the parties, and such time shall be utilized at the discretion of the Counsel for verbalizing the pivotal submissions, resting assured that the rest of their contentions from their Note on Submissions, would be dealt with by the Court.

6.

With the aforesaid commitments, stand over to April 17, 2025, under the caption of "For Final Hearing" and disposal. 7.

All actions required to be taken pursuant to this order, shall be taken upon receipt of a downloaded copy as available on this Court's website.

[ SOMASEKHAR SUNDARESAN, J.] MARCH 18, 2025 Aarti Palkar