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DELHI HIGH COURT
SANJEEV SACHDEVA
Orix Leasing and Financial Services India Ltd. – Appellant
Versus
Beloorbayir Biotech Limited – Respondent
| Table of Content |
|---|
| 1. petitioner seeks arbitration appointment. (Para 1) |
| 2. respondent consents to arbitration. (Para 2) |
| 3. court allows arbitration and appoints arbitrator. (Para 3 , 4 , 5 , 6) |
| 4. petition disposed; next date canceled. (Para 7 , 8) |
JUDGMENT
Sanjeev Sachdeva, J. Petitioner seeks appointment of Arbitral Tribunal pursuant to Deed of Settlement dated 20.12.2017.
2. Learned counsel appearing for the respondent submits that without prejudice to her rights and contentions, respondent has no objection to appointment of an Arbitral Tribunal.
3. Since the parties are agreeable to reference of their disputes to arbitration, the petition is allowed.
4. Accordingly, with the consent of the parties, Ms. Bimla Makin, former District & Sessions Judge Delhi (Mobile # +91 9910384624; email: bimlamakin@gmail.com) is appointed as the Sole Arbitrator to 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 enterin
Parties can agree to arbitration, and courts will appoint an arbitrator to resolve disputes accordingly.
The consent of both parties to appoint a sole arbitrator underscores the principle of mutual agreement in arbitration proceedings under 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 seek arbitration under the Arbitration & Conciliation Act when settlement talks fail, emphasizing the need for an appointed arbitrator to resolve disputes.
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 consensually appoint an arbitrator, and procedural rules under the Arbitration and Conciliation Act must be adhered to, including disclosure requirements.
Parties may consent to arbitration under an agreement, leading to the appointment of an arbitrator to resolve disputes.
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 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.
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