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G. S. KULKARNI
Derivados Consulting Pvt. Ltd. – Appellant
Versus
Pramara Promotions Pvt. ltd. – Respondent
ORDER
1. An interesting issue on the existence of an arbitration agreement arises in this application filed under Section 11 of the Arbitration and Conciliation Act, 1996 (for short, 'the Act'). By this application the Applicant has prayed for appointment of an arbitral tribunal to adjudicate the disputes and differences which have arisen between the parties under the engagement letter/mandate dated 7 November 2019 issued by the Respondent in favour of the Applicant.
2. Applicant's case:- The Applicant is inter alia engaged in the business of financial advisory services, including providing debt-syndication services, enabling companies to raise funds from banks and financial institutions. The Respondent approached the Applicant for availing its services. Accordingly, on 7 November 2019, a mandate was executed between the parties under which the Respondent appointed the Applicant and the Applicant agreed to be appointed as the Respondent's executive financial adviser for securing financial facilities for a period of twelve months.
3. On 28 January 2020, ICICI Bank sanctioned a working capital facility of Rs.23.24 crores to the Respondent which is stated to be a consequence of the Appli
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