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2025 DAILYLAW 32685 (DEL)

AXIS FINANCE LIMITED v. SHIVRAM SYNTHETICS PRIVATE LIMITED & ORS.

ARB.P./2088/2024 · 2025-02-24

Manoj Kumar Ohri

body2025

Judgment text

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$~21 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 2088/2024 AXIS FINANCE LIMITED .....Petitioner Through: Mr. Vivek Sinha and Mr. Vivek Malik, Advocates. versus SHIVRAM SYNTHETICS PRIVATE LIMITED & ORS. .....Respondents Through: None. CORAM: HON'BLE MR. JUSTICE MANOJ KUMAR OHRI O R D E R % 24.02.2025 1. By way of present petition filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter, referred to as the ‘A&C Act’), the petitioner seeks constitution of an Arbitral Tribunal comprising of a Sole arbitrator, to adjudicate the disputes between the parties. 2. Learned counsel for the petitioner submits that the parties entered into a Facility Agreement dated 24.03.2022, Clause 35of which provides forresolution of disputes through arbitration and further designates Mumbai/Delhi as the seat of arbitration. 3. The petition is accompanied by notice invoking arbitration dated 10.10.2024 issued to the respondents under Section 21 of the A&C Act. 4. Learned counsel for the petitioner submits that the respondents have been served through courier, speed post and email. He further submits that an affidavit of service has been filed in this regard, which is accompanied by tracking report, which indicates that service has been effected on the all the respondents. Accordingly, the respondents are This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 01/03/2025 at 14:25:18 deemed to be served. 5. Since neither the respondents arerepresented today nor any reply(s) has been filed on their behalf, itappears that the respondents have no objection to the reference of thedisputes to the Sole Arbitrator. In view of the above, the present petitionis disposed of with the following directions: i) The disputes between the parties under the said agreement are referredto the Arbitral Tribunal comprising of a Sole Arbitrator. ii) Mr. Milind Jain, Advocate (Mob. No. 9999700647) is appointed as theSole Arbitrator to adjudicate the disputes between the parties. iii) The arbitration will be held under the aegis of the Delhi InternationalArbitration Centre, Delhi High Court, Sher Shah Road, New Delhi(hereinafter, referred to as the ‘DIAC’). The remuneration of the learnedArbitrator shall be in terms of DIAC (Administrative Cost and Arbitrators’Fees) Rules, 2018 or as the parties may agree. iii) The learned Arbitrator shall furnish a declaration in terms of Section 12 of the Act prior to entering into the reference. iv) It is made clear that all the rights and contentions of the parties, including on the existence and validity of the Arbitration agreement, arbitrability of any of the claim/counter claim, any other preliminary objection, need and legality of interim relief, as well as contentions on merits of the dispute by either of the parties, are left open for adjudication by the learned arbitrator. v) The parties shall approach the learned Arbitrator within two weeks from today. MANOJ KUMAR OHRI, J FEBRUARY 24, 2025 ga This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 01/03/2025 at 14:25:18