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IN THE HIGH COURT OF DELHI
Sanjeev Sachdeva, J.
Indian Oil Corporation Limited - Appellant
Versus
Raaj Unocal Lubricants Limited - Respondent
Arb.P. 288 of 2019
Decided On : 25-04-2022
| Table of Content |
|---|
| 1. request for arbitration based on a prior agreement. (Para 1) |
| 2. respondent acknowledges payments and potential counter-claims. (Para 2 , 3) |
| 3. disputes referred for arbitration with appointed arbitrator. (Para 4 , 5 , 6) |
| 4. petition disposed of with terms set for arbitration. (Para 7) |
JUDGMENT
Sanjeev Sachdeva, J. Petitioner seeks appointment of an Arbitral Tribunal pursuant to agreement dated 31.01.2000.
2. Learned counsel appearing for the respondent submits that petitioner has already been paid the principal amount as also the interest paid by the Excise Department as is noticed in order 23.10.2019.
3. Without prejudice he submits that he has no objection to the Arbitral Tribunal being constituted reserving the right of the respondent to raise counter-claims, in addition to the claims of the petitioner.
4. In view of the above and with the consent of the parties, the disputes are referred to the Delhi International ArbitrationCentre, which would appoint an arbitrator to arbitrate the disputes. The arbitration shall take place under the aegis of the DIAC in accordance with its rules and regulations.
5. The arbitrator would be entitled to charge fees in accordance with the schedule of fee stipulated by the DIAC.
6. The arbitrator shall furnish the requisite disclosure under section 12 of the Arbitration and Conciliation Act, 1996 within two weeks of entering reference.
7. The petition is disposed of in the above terms.
The court ruled that mutual consent between the parties allows for the appointment of an Arbitral Tribunal under the Arbitration and Conciliation Act, with stipulations on fees and disclosures.
Parties may consent to arbitration for disputes arising from contractual obligations, with specific provisions for arbitrator fees and necessary disclosures as per applicable law.
The court confirmed that appointment of an Arbitral Tribunal can occur with mutual consent of parties, per Arbitration and Conciliation Act, 1996.
Parties in a partnership may resolve disputes through arbitration as per their agreement and consent, including provision for fees and necessary disclosures.
The court confirmed that disputes can be referred to arbitration with mutual consent under the Arbitration and Conciliation Act, ensuring adherence to procedural rules.
The court referred the lease agreement disputes to arbitration at the Delhi International Arbitration Centre, following the respondent's non-objection to this referral.
Parties can mutually consent to refer disputes to arbitration despite disagreements on pre-arbitration steps taken.
The court confirmed the validity of arbitration clauses in contracts and emphasized procedural adherence under the Arbitration and Conciliation Act, ensuring transparency through mandatory disclosure....
The court affirmed that disputes arising from a common contract can be referred to an Arbitral Tribunal if both parties consent to the arbitration venue.
Arbitration disputes can be referred to the designated arbitration body with mutual consent from both parties, ensuring compliance with procedural requirements as stipulated by relevant statutes.
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