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DELHI HIGH COURT
SANJEEV SACHDEVA
Reemar Malhotra – Appellant
Versus
Bajaj Finance Limited – Respondent
| Table of Content |
|---|
| 1. appointment of arbitral tribunal requested. (Para 1) |
| 2. respondent consents to tribunal appointment. (Para 2) |
| 3. tribunal appointed; fees and disclosures defined. (Para 3 , 4 , 5 , 6 , 7) |
JUDGMENT
Sanjeev Sachdeva, J. Petitioner seeks appointment of an Arbitral Tribunal pursuant to two Loan Agreements dated 25.01.2018 and 13.02.2018.
2. Learned counsel appearing for the respondent submits that without prejudice to their rights and contentions, they have no objection to an Arbitral Tribunal being constituted.
3. In view of the above, the petition is allowed.
4. Accordingly, with the consent of the parties, Mr. Justice V.K.Jain, (Retd) former Judge of this Court (Mobile No. + 91 9650116555) is appointed as the Arbitrator Tribunal. The Arbitral tribunal shall adjudicate the claims and counter claims, if any, of the parties.
5. The fees of the learned Arbitrator shall be as per the Fourth Schedule of the Arbitration and Conciliation Act, 1996.
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.
Consent from both parties is pivotal for the appointment of an Arbitral Tribunal under loan agreements per the Arbitration and Conciliation Act, 1996.
Parties can resolve disputes through arbitration when they mutually consent, cementing the arbitration process as per the Arbitration and Conciliation Act, 1996.
The court confirmed that appointment of an Arbitral Tribunal can occur with mutual consent of parties, per Arbitration and Conciliation Act, 1996.
Parties can consensually appoint an arbitrator, and procedural rules under the Arbitration and Conciliation Act must be adhered to, including disclosure requirements.
Parties can seek arbitration under the Arbitration & Conciliation Act when settlement talks fail, emphasizing the need for an appointed arbitrator to resolve disputes.
Parties can agree to arbitration, and courts will appoint an arbitrator to resolve disputes accordingly.
The court confirmed party autonomy in arbitration appointments, allowing for a sole arbitrator despite an initial agreement for a three-arbitrator panel.
Parties can mutually consent to refer disputes to arbitration despite disagreements on pre-arbitration steps taken.
The court established that parties can mutually agree to appoint a sole arbitrator for identical disputes under the Arbitration and Conciliation Act, and emphasized the requirement for disclosure by ....
Parties may consent to an alternative arbitration method despite specified procedures in their agreement, thus allowing for flexibility in dispute resolution.
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