Sany Heavy Industry India Pvt Ltd v. Sachin Yadav And ANR
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION APPLICATION NO.8 OF 2025 Sany Heavy Industry India Pvt. Ltd.
...Petitioner
Versus
Sachin Yadav & Anr.
....Respondents Ms Bijal K. Gogri i/b. GNP Legal, Advocate for Petitioner. None for Respondent.
CORAM: SOMASEKHAR SUNDARESAN, J.
DATE : JANUARY 15, 2025 PC :
1.
This Application has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 ("the Act") seeking reference of disputes and differences connected to a Loan Cum Hypothecation Agreement ("Agreement") dated December 15, 2019 to a Sole Arbitrator.
2.
It is seen from the record, that the parties have indeed executed the arbitration agreement, which is contained at Clause 23 of the Agreement (Page 44 of the Application). The said Clause came to be amended when the loan account was assigned to the Petitioner, the original lender having been SREI Equipment Finance Limited. It is
seen that the novation and amendment dated August 17, 2021, executed by all the parties is found at Exhibit 'B' at Page 51 & 52 of the Application. In the interest of brevity, the arbitration agreement is not extracted herein. Suffice it to say, that the matter falls within the jurisdiction of this Court.
3.
It is apparent from the record that arbitration clause under the agreement had been invoked by a letter dated June 29, 2024. There has been no response to the invocation notice. Likewise, it is apparent from the material on the record that these proceedings have also been served on the Respondents and a service report forms an integral part of the record.
4.
In these circumstances, I see no reason to hold up this Petition any further. Consequently, the following order is passed :- a) Mr. S.G. Nandimath (Retired District Judge) is hereby appointed as the Sole Arbitrator to adjudicate upon the disputes and differences between the parties arising out of and in connection with the Agreement referred to above. The contact details of the Learned Sole Arbitrator are set by AARTI GAJANAN PALKAR Date:
2025.01.18 11:35:19 +0530 AARTI GAJANAN PALKAR out below:- Contact No.9421511829 Email : shivayyanandimath@gmail.com
b) A copy of this Order will be communicated to the Learned Sole Arbitrator by the Advocates for the Applicant within a period of one week from today. The Applicant shall provide the contact and communication particulars of the parties to the Arbitral fTribunal along with a copy of this Order;
c) The Learned Sole Arbitrator is requested to forward the statutory Statement of Disclosure under Section 11(8) read with Section 12(1) of the Arbitration and Conciliation Act, 1996 to the Advocates for the Applicant so as to enable them to file the same in the Registry of this Court. The Registry of this Court shall retain the said Statement on the file of this Application and a copy of the same shall be furnished by the Advocates for the Applicant to the Respondent;
d) The parties shall appear before the Learned Sole Arbitrator on such date and at such place as indicated, to obtain appropriate directions with regard to conduct of the arbitration including fixing a schedule for pleadings, examination of witnesses, if any, schedule of hearings etc. At such meeting, the parties shall provide a valid and functional email address along with mobile and landline
numbers of the respective Advocates of the parties to the Arbitral Tribunal. Communications to such email addresses shall constitute valid service of correspondence in connection with the arbitration; and e] All arbitral costs and fees of the Arbitral Tribunal shall be borne by the parties equally in the first instance, and shall be subject to any final Award that may be passed by the Tribunal in relation to costs.
5.
The Application is finally disposed of in the aforesaid terms. 6.
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.]