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DELHI HIGH COURT
NEENA BANSAL KRISHNA
Coronation Infrastructure Pvt. Ltd. – Appellant
Versus
Tata Capital Financial Services Ltd. – Respondent
| Table of Content |
|---|
| 1. filing of arbitration petition. (Para 1) |
| 2. details of loan agreement and appointment of arbitrator. (Para 2 , 3 , 4 , 5 , 6 , 7) |
| 3. petitioners' compliance despite difficulties. (Para 8 , 9 , 10) |
| 4. legal precedent on arbitrator disqualification. (Para 11 , 12) |
| 5. challenge based on arbitrator's appointment legality. (Para 13 , 15 , 24) |
| 6. analysis of arbitration and conciliation act. (Para 14 , 16 , 18 , 19 , 20 , 21 , 22 , 23) |
| 7. appointment of new arbitrator. (Para 25 , 26 , 27 , 28 , 29 , 30) |
| 8. conclusion and order issuance. (Para 31 , 32) |
JUDGMENT
1. The present petition under Section 14 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "A&C Act, 1996") has been filed on behalf of the petitioners seeking termination of the mandate of the Sole Arbitrator appointed by the respondent.
2. It is submitted in the petition that the petitioners purchased the machinery/equipment, namely, LIUGONG CLC 414 from the respondent on 31st October, 2017 vide Loan-cum-Hypothecation-cum-Guarantee Agreement (hereinafter referred to as "Loan Agreement") bearing Loan No. 0000007000480101 and the same was to be paid in 35 equal monthly installments of Rs.11,86
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