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D. RAMESH
S. V. Choudary – Appellant
Versus
V. Vidya Sagar – Respondent
ORDER:
This petition is filed by the petitioner s under Section 11(6)(a) of the Arbitration and Conciliation Act, 1996 r/w Rules and Scheme under the Act for getting the disputes resolved between the parties as per Clause 7 of the Memorandum of Understanding dated 01.10.2009.
2. Learned counsel for the petitioner submitted that the petitioner was the core promoter and founder Director of Subhodaya Chemicals Limited (Subhodaya Chemicals Pvt. Ltd). The respondents 1, 3 and 4 are co-promoters of the 2nd Respondent Company. Petitioner has given his personal guarantees and offered family properties as collateral security to financial institutions and Banks, thereby extending loans to the business entity for its establishment and survival. The 1st respondent and petitioner has entered into a bilateral agreement by way of an MOU dated 20.07.2005 with the petitioner promising that the promoter Directors, including the petitioner will divest themselves of their equity and consideration will be paid before December 2005 and promised to release the collateral securities offered by the petitioner and also has taken the responsibility of relieving him from all personal guarantees given by the pet
An application under Section 11 for appointment of an arbitrator is time-barred if filed after three years from the refusal to appoint, with delays not justified.
Arbitration requests must be filed within three years of the cause of action; failure to act in time bars subsequent petitions.
The main legal point established in the judgment is that an application for appointment of an arbitrator under Section 11 of the Arbitration and Conciliation Act, 1996 is subject to the time limitati....
The Chief Justice can appoint arbitrators under Section 11 of the Arbitration Act and determine issues of jurisdiction and validity of claims, while disputes over notification receipt are left for re....
The main legal point established in the judgment is that the limitation for filing an application under Section 11 of the Arbitration Act arises upon the failure to make the appointment of the arbitr....
Arbitration petition – Limitation – A claim which is time-barred cannot be resuscitated by taking recourse either to Sections 18 or 19 of Limitation Act.
The main legal point established in the judgment is that the limitation period for filing an application seeking appointment of an arbitrator under Section 11(6) of the Arbitration and Conciliation A....
The court confirmed that the existence of an arbitration agreement is undisputed, and any claims regarding time-bar should be determined by the arbitral tribunal.
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