Iifl Finance Limited v. Dlg Industries

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 526 OF 2025 ALONGWITH ARBITRATION APPLICATION (L.) NO. 13182 OF 2026 IIFL Finance Ltd.

... Petitioner/Applicant V/s.

DLG Industries ... Respondent ________________ Ms. Pooja Singh for the Petitioner.

________________ CORAM: SANDEEP V. MARNE, J.

DATED: 21 April 2026.

P.C.:

1) Arbitration Application (L.) No.13182 of 2026 is not on board. At the request of Ms. Singh, the learned counsel appearing for the Applicant, the same is taken for analogous hearing with the present petition as directed vide order dated 9 March 2026. 2) By order dated 9 March 2026 passed in Section 9 petition (Arbitration Petition No.526 of 2025) it is recorded that notices have been duly served on the Respondents. However, none has been appearing on behalf of the Respondents. Disputes and differences have arisen between the parties out of Loan Agreement. Perusal of the Loan Agreement would indicate presence of Arbitration Clause No.26. The seat of the arbitration is at Mumbai.

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3) In my view therefore, it would be just and proper to constitute Arbitral Tribunal comprising of a sole Arbitrator by continuing the ad-interim measures granted vide order dated 9 March 2026. Accordingly, I proceed to pass the following order : (A) Mr. Shayan J. Bisney, an Advocate of this Court is hereby appointed as sole Arbitrator to adjudicate upon the disputes and differences between the parties arising out of Loan Agreement referred to above. The contact details of the Arbitrator are as under :

Office Address :- 302, Mistry Mansion, 107 MG Road, Fort Mumbai Email ID :- shayanbisney@gmail.com Mobile No.:- 98491 78100 (B) A copy of this order be communicated to the learned sole Arbitrator by the Advocates for the Petitioner/Applicant within a period of one week from the date of upload of this order. The Petitioner/Applicant shall provide the contact and communication particulars of the parties to the Arbitral Tribunal alongwith 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 Act to the parties within a period of 2 weeks from receipt of a copy of this order.

(D) The parties shall appear before the learned sole Arbitrator on such date and at such place as indicated by him, to obtain 2 of

appropriate direction with regard to conduct of the arbitration including fixing a schedule for pleadings, examination of witnesses, if any, schedule of hearings etc.

(E) The sole Arbitrator shall be entitled to the fees prescribed under the Bombay High Court (Fee Payable to Arbitrators) Rules, 2018 and the arbitral costs and fees of the Arbitrator shall be borne by the parties in equal proportion and shall be subject to the final Award that may be passed by the Tribunal 4) Ad-interim measures granted vide order dated 9 March 2026 shall continue to operate as interim measures during pendency of arbitral proceeding and till making of the final Award. 5) All issues on merits are expressly kept open to be agitated before the Arbitral Tribunal appointed as above. 6) With the above directions, the Arbitration Application and Arbitration Petition are disposed of.

[SANDEEP V. MARNE, J.] Digitally signed by NEETA SHAILESH SAWANT Date:

2026.04.23 10:30:04 +0530 NEETA SHAILESH SAWANT 3 of