Idbi Bank Ltd v. Edelweiss Rural And Corporate Services Limited

by MULEY SHUBHAM PRAVINRAO Date:

2024.10.23 17:28:57 +0530 MULEY SHUBHAM PRAVINRAO 1 35-CARAP-113-2024.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION APPLICATION NO. 113 OF 2024 IDBI Bank Ltd.

...Applicant Vs.

Edelweiss Rural and Corporate Services Limited

...Respondent

----------------- Adv. Nandita Dethe a/w D. Modi i/by Singhania Legal Services for the Applicant. Adv. Malcolm Siganporia (through VC) for the Respondent. ----------------- CORAM : ARIF S. DOCTOR, J.

DATE : 17TH OCTOBER, 2024 P.C.:- 1.

This is an application filed under Section 11 of the Arbitration and Conciliation Act, 1996 for appointment of an Arbitrator. 2.

Learned Counsel for the Respondent submits that he consents to arbitration if all rights and contentions are left open including limitation. 3.

Hence, I appoint Mr. Justice J. N. Patel, Former Judge of this Court to act as a Sole Arbitrator.

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2 35-CARAP-113-2024.doc TERMS OF APPOINTMENT (a) Appointment of Arbitrator: Mr. Justice J. N. Patel, Former Judge of this Court is hereby nominated to act as a Sole Arbitrator to decide the disputes and differences between the parties. (b) Communication to Arbitrator of this order:

A copy of this order will be communicated to the learned Sole Arbitrator by the Advocates for the Applicant within one week from the date this order is uploaded. (ii) The Advocates for the Applicant will forward an ordinary copy of this order to the learned Sole Arbitrator at the following postal and email addresses:

Arbitrator/s Mr. Justice J. N. Patel, Former Judge of this Court Address 234, DBS Business Center, 2 nd Floor, Raheja Chambers, Free Press Journal Road, Nariman Point 400021.

Mobile 9167888444 Email jnpatel5@hotmail.com (c) Disclosure: The learned Sole Arbitrator is requested to forward, in hard copy or soft copy (or both), the necessary statement of disclosure under Section 11(8) read with Section 12(1) of the Arbitration Act to Advocates for the parties as soon as possible. The Advocates for the Applicant will arrange to file the original 2/4

3 35-CARAP-113-2024.doc statement in the Registry. If the statement is forwarded in soft copy, a print out of the covering email is also to be filed in the registry. (d) Appearance before the Arbitrator: Parties will appear before the learned Sole Arbitrator on such date and at such place as the learned Sole Arbitrator nominates to obtain appropriate directions in regard to fixing a schedule for completing pleadings, etc. (e) Contact/communication information of the parties: Contact and communication particulars are to be provided by both sides to the learned Sole Arbitrator. The information is to include functional email addresses and mobile numbers.

(f) Section 16 application: The respondent is at liberty to raise all questions of jurisdiction within the meaning of section 16 of the Arbitration Act. All contentions are left open. (g) Interim Application/s:

Liberty to the parties to make an interim application or interim applications including (but not limited to) interim applications under Section 17 of the Arbitration & Conciliation Act, 1996 before the learned Sole Arbitrator. Any such application will be decided in such manner and within such time as the learned Sole Arbitrator deems fit.

(ii) The learned Sole Arbitrator is requested to dispose of all interim applications at the earliest.

(h) Fees: The arbitral tribunal's fees shall not be governed by the Bombay High Court (Fee Payable to Arbitrators) Rules, 2018. 3/4

4 35-CARAP-113-2024.doc Sharing of costs and fees: Parties agree that all arbitral costs and the fees of the arbitrator will be borne by the two sides in equal shares in the first instance.

(j) Consent to an extension if thought necessary. Parties immediately consent to a further extension of up to six months to complete the arbitration should the learned Sole Arbitrator find it necessary. (k) Venue and seat of arbitration: Parties agree that the venue and seat of the arbitration will be in Mumbai.

4.

The application is disposed of in these terms. No costs. (ARIF S. DOCTOR, J.) 4/4