Sunita Jaypal Naik And Another v. Shriram City Union Finance Company Ltd Through Its Authorised Officer And Another

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BENCH AT AURANGABAD 925 WRIT PETITION NO. 11862 OF 2024 SUNITA JAYPAL NAIK AND ANOTHER

VERSUS

SHRIRAM CITY UNION FINANCE COMPANY LTD THROUGH ITS AUTHORISED OFFICER AND ANOTHER ...

Advocate for the Petitioner : Mr. Naik Sarvesh Jaipal ...

CORAM : ARUN R. PEDNEKER, J.

DATE : 22nd OCTOBER, 2024 PER COURT:

1.

Heard.

2.

The learned counsel for the petitioners submits that there is unilateral appointment of the arbitrator by the respondent and that award passed by the arbitrator appointed by the respondent is bad in law. The learned counsel submits that no notice invoking arbitration clause (if any) in the loan contract was served upon the Petitioners. He submits that the award passed by the arbitrator is ex faice illegal, as no notice was served upon the petitioners, so also, he submits on the deposit of Rs.8,00,000/-, which is the loan taken by the petitioners, the execution proceedings be stayed. The learned counsel agrees to deposit the amount of Rs.8,00,000/- before this court today itself.

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The learned counsel for the petitioners submits that the Demand Draft of Rs.8,00,000/- bearing no.960494 in the name of Registrar, High Court, Bench at Aurangabad is ready and that he would deposit the same in the Registry today itself. 4.

Liberty is granted to the learned counsel for the petitioners to deposit the Demand Draft in the Registry. 5.

On deposit of above noted Demand Draft in the Registry, the execution proceeding in Regular Darkhast (Arbitration) No.225/2020 shall remain stayed.

6.

Issue notice to the respondents, returnable on 17.12.2024. 7.

Stand over to 17.12.2024.

[ARUN R. PEDNEKER, J.] marathe