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IN THE HIGH COURT OF JUDICATURE AT MADRAS
N.ANAND VENKATESH
Thomas Varghese, S/o. Varghese George – Appellant
Versus
Sundaram Finance Limited – Respondent
| Table of Content |
|---|
| 1. factual background of the loan and arbitration process (Para 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 , 12) |
| 2. petitioner’s arguments regarding the validity of the award (Para 13 , 14 , 19 , 20) |
| 3. court’s considerations on the appointment of the sole arbitrator (Para 16 , 17 , 18 , 21 , 24 , 25 , 28 , 29 , 30 , 33 , 39) |
| 4. legitimacy and credibility of arbitral institutions (Para 22 , 27 , 32 , 35 , 36 , 38) |
| 5. final dismissal of the petition with costs (Para 40) |
ORDER :
N.ANAND VENKATESH, J.
1. The petitioner assails the award passed by the Sole Arbitrator dated 13.04.2023 by filing the present petition under Section 34 of the Arbitration and Conciliation Act, 1996 (for brevity, hereinafter referred to as ‘the Act’).
2.The respondent/claimant is a financial institution. The petitioner is said to have approached the respondent seeking for financial assistance for purchase of a vehicle. Accordingly, the petitioner and the respondent entered into a loan agreement dated 31.7.2019 and the father of the petitioner also signed in the said agreement in his capacity as the guarantor. A sum of Rs.20,15,000/- was lent towards purchase of vehicle and this amount had to be repaid togethe
The appointment of the Sole Arbitrator by the MCCI was valid and did not contravene the Arbitration and Conciliation Act, 1996, even if one party did not participate in the arbitration proceedings.
An arbitration award cannot be invalidated for unilateral appointment of arbitrators if the parties had the opportunity to nominate their respective arbitrators through an independent institute, main....
Unilateral appointment of an arbitrator by a party with vested interests breaches principles of fairness and impartiality, rendering such appointment invalid under arbitration laws.
A unilateral appointment of an arbitrator by one party contravenes Section 12(5) of the Arbitration and Conciliation Act, rendering the arbitral award void ab initio and against public policy.
A unilateral appointment of an arbitrator by a party interested in the dispute is null and void under Section 12(5) of the Arbitration and Conciliation Act, 1996, as amended in 2015.
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