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IN THE HIGH COURT OF DELHI AT NEW DELHI
HARISH VAIDYANATHAN SHANKAR
Ascend Capital Services Pvt. Ltd. – Appellant
Versus
Laxmi Foils Pvt. Ltd. – Respondent
JUDGMENT :
HARISH VAIDYANATHAN SHANKAR, J.
1. The present Petition, under Section 11 (6) of theArbitration and Conciliation Act, 1996, Act, has been filed seeking the appointment of a sole Arbitrator for the purpose of adjudication of disputes stated to have arisen between the parties in relation to theFacilities Agreement dated 21.02.2022, [Agreements].
2. As stated in the Petition, in or around March 2022, the Respondent Company was engaged in the business of manufacturing and trading aluminium hot rolled products, aluminium cold rolled products and aluminium sheets, foils, etc. It is further stated in the Petition that the Petitioners had, from time to time, granted credit facilities/unsecured loans for the purpose of the Respondent Company's capital expenditure and general corporate expenses.
3. Thereafter, a Tripartite Share Purchase Agreement dated 03.02.2022, Share purchase agreement was entered into between the erstwhile shareholders, Respondent and one OMAT Business Pvt. Ltd., which is the fully-owned subsidiary of OFB Tech Pvt. Ltd.
4. Consequently, in order to discharge the liabilities of the Respondent Company under the credit facilities/unsecured loans granted by the Petit
The court confirmed that a prima facie arbitration agreement exists under Section 11(6) of the Arbitration and Conciliation Act, limiting judicial scrutiny to the agreement's existence, deferring sub....
Judicial scrutiny under Section 11 of the Arbitration Act is limited to the prima facie existence of an arbitration agreement, with substantive issues reserved for the arbitral tribunal.
The court held that its review under Section 11(6) is limited to confirming the existence of an arbitration agreement, without delving into substantive disputes, which is for the Arbitrator to decide....
The appointment of an arbitrator under Section 11 of the Arbitration and Conciliation Act requires only a prima facie examination of the arbitration agreement's existence, with mixed questions of law....
(1) Invocation of arbitration – Execution of discharge voucher – There is no rule of absolute kind which precludes arbitration in cases where a full and final settlement has been arrived at.(2) Invoc....
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