Manulla Mehbullah Kanchwala v. Janata Sahakari Bank Ltd. Pune

908-ARBPL-185-2024 @ Ors.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

Digitally signed by PURTI PRASAD PARAB Date:

2025.05.05 19:07:09 +0530 PURTI PRASAD PARAB ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION (L) NO. 185 OF 2024 Lalitkumar Shyaam

...Petitioner

Versus

Janata Sahakari Bank Ltd., Pune and Ors.

...Respondents

ALONGWITH ARBITRATION PETITION NO. 386 OF 2024 ALONGWITH ARBITRATION PETITION NO. 388 OF 2024 ALONGWITH ARBITRATION PETITION NO. 549 OF 2024 ALONGWITH ARBITRATION PETITION NO. 387 OF 2024 Mr. Nirav Shah i/b Little & Co. for the Petitioner in ARBPL/185/2024.

Mr. Dharam Jumani a/w Mr. Mani Thevar and Mr. Anuj Singh i/b Ganesh & Co. for the Petitioner in ARBP/386/2024, ARBP/388/ 2024, ARBP/549/2024 and ARBP/387/2024.

Mr. Aniruddha Lad a/w Mr. T. V. Louis i/b KLT Law Associates, for Respondent No. 1 in ARBPL/185/2024, ARBP/386/2024 and ARBP/387/2024.

CORAM

: SOMASEKHAR SUNDARESAN, J.

DATE : APRIL 7, 2025 PC :

1.

As noticed in the last order dated March 24, 2025, the arbitration proceedings are statutory in character under the Multi-State Cooperative Societies Act, 2002 in the absence of an explicit arbitration clause in the agreement between the parties.

2.

Since the underlined loan extended by the Respondent-Janata Sahakari Bank Ltd., stands transferred to an asset reconstruction company, namely, J.C. Daver Asset Reconstruction Pvt. Ltd., the bank has filed an April 7, 2025 Purti Parab

908-ARBPL-185-2024 @ Ors.doc application for withdrawal of the arbitral proceedings before the Learned Arbitrator appointed by the Registrar of the Co-operative Societies. In these circumstances, the arbitration proceedings having been withdrawn nothing would survive in this challenge to an interim order passed in the arbitral proceedings.

3.

All these Petitions stands finally disposed of as infructuous. 4.

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.] April 7, 2025 Purti Parab