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SHEKHAR B. SARAF
Yashovardhan Sinha Huf – Appellant
Versus
Satyatej Vyapaar Pvt. Ltd. – Respondent
JUDGMENT
Shekhar B. Saraf, J. - The petitioners seek an order for termination of the mandate of the Learned Arbitrator under Section 14(1)(a) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act'). Section 14(1)(a) of the Act states that the mandate of an arbitrator shall terminate and he shall be substituted by another arbitrator if he becomes de jure or de facto unable to perform his functions or for other reasons fails to act without undue delay.
2. The facts of the matter are as follows :-
a) The petitioner no. 1 is a Hindu Undivided Family ('HUF') and is being represented by its Karta, Mr. Yashovardhan Sinha being the petitioner No. 2 to the present petition (hereinafter collectively referred to as the 'petitioner').
b) The Respondent is a Non-Banking Financial Company (hereinafter referred to as 'NBFC') incorporated under the provisions of the Companies Act, 1956 and is in the business of providing financial facilities, personal loans, commercial loans, etc.
c) The disputes between the parties arise out of a loan agreement dated August 29, 2016, wherein the respondent company disbursed a sum of INR 5,50,00,000/- to the petitioners.
d) On September 27,
Unilateral appointment of a sole arbitrator is impermissible and illegal, leading to the automatic termination of the arbitrator's mandate under Section 14(1)(a) of the Arbitration and Conciliation A....
Unilateral appointment of an arbitrator by a party with vested interests breaches principles of fairness and impartiality, rendering such appointment invalid under arbitration laws.
The unilateral appointment of an Arbitrator contravenes statutory requirements, leading to termination of the mandate if the appointment raises doubts about independence or impartiality.
The unilateral appointment of an arbitrator by one party, violating Section 12(5) of the Arbitration and Conciliation Act, 1996, renders the arbitrator ineligible, necessitating the appointment of a ....
Unilateral appointment of an Arbitrator without consent violates procedural fairness under the Arbitration and Conciliation Act, leading to the termination of the mandate.
The unilateral appointment of an arbitrator by one party without consent of the other violates the Arbitration and Conciliation Act, resulting in automatic termination of the arbitrator's mandate.
The de jure disqualification of an Arbitrator under A&C Act, 1996, Section 14(1) leads to the termination of the mandate and the appointment of a substitute Arbitrator.
The main legal point established in the judgment is the application of Section 12(5) of the Arbitration and Conciliation Act, 1996, and the proviso allowing parties to waive disqualification through ....
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