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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
| Table of Content |
|---|
| 1. arbitration agreement and factual background (Para 1 , 2 , 3 , 4 , 5 , 6 , 8 , 9 , 10 , 11) |
| 2. arguments regarding the validity of the arbitration clause (Para 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20) |
| 3. court's reasoning based on judicial precedents (Para 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28) |
| 4. order for appointing arbitrator and concluding decision (Para 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39) |
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 expen
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....
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