2026:BHC-OS:2988 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION APPLICATION (L) NO.35431 OF 2025 Tata Capital Housing Finance Limited …..APPLICANT : VERSUS :

Inderjeet Sahni and others ….RESPONDENTS WITH COMMERCIAL ARBITRATION PETITION (L) NO.35458 OF 2025 Tata Capital Housing Finance Limited ….. PETITIONER : VERSUS :

Inderjeet Sahni and others ….RESPONDENTS Mr. Aseem Naphade with Mr. Nikhil Mehta i/b KMC Legal Venture, for Applicant/Petitioner.

Mr. Aman Vijay Dutta (Through VC) with Mr. Hitanshu Patil & Mr.

Indranil Maity i/b Mr. Vinayak Pandit, for Respondents.

Digitally CORAM : SANDEEP V. MARNE, J.

signed by NEETA NEETA SHAILESH Reserved On: 22 JANUARY 2026.

SHAILESH SAWANT SAWANT Date:

2026.02.02 Pronounced On: 02 FEBRUARY 2026.

18:41:30 +0530 Judgment :

1) Applicant/Petitioner-Lender has filed the present proceedings for appointment of an Arbitrator and for interim measures before commencement and during pendency of arbitral proceedings. Commercial Arbitration Application (L) No.35431 of 2025 is filed under Section 11 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) for appointment of Arbitrator pursuant to clause 12 of the Loan Agreement for adjudication of disputes and differences between the parties. Commercial Arbitration Petition (L) No.35458 of 2025 is filed under Section 9 of the Arbitration Act seeking interim measures against Respondents to restrain them from selling, transferring, alienating, encumbering, creating third party rights or parting with possession of the mortgaged asset with further direction for demarcation thereof and for appointment of Court Receiver. Petitioner has also sought direction for disclosure of assets of the Respondents with consequential order for stay on creating third party rights in respect of such disclosed assets.

FACTS

2) Petitioner is an incorporated entity engaged inter alia in the business of providing finance. Respondent No.1 is the principal borrower and Respondent Nos.2 to 4 are the co-borrowers in respect of credit facilities sanctioned and dispersed by the Petitioner to them. Respondent No.5 is the proprietary concern of Respondent No.1. Petitioner has sanctioned loan of Rs. 2,24,00,000/- to Respondent Nos.1 to 4 under its product name “Home Equity”. In pursuance of sanction and disbursement of loan, Respondents created a charge on land bearing Kh No.174/13 Area 0.115 H. situated at Tatibandh, Raipur, Chhattisgarh State. Loan Agreement has been executed on 27 November 2019 between the Petitioner and the Respondents. Petitioner claims that Respondents have also executed a Memorandum of Entry in favour of the Petitioner. During currency of tenure of the loan, Respondents requested for restructuring of the credit facilities and accordingly, Petitioner granted new restructured loan amount of Rs.2,34,08,671/- on 12 June 2021. According to the Petitioner, Respondents were irregular in repayment of the loan and committed defaults which led to classification of their loan account as Non-Performing Asset (NPA). Petitioner issued demand notice dated 6 February 2023 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) calling upon Respondents to pay outstanding amount of Rs. 2,73,61,794/-. On account of failure on the part of Respondents to pay the demanded amount, Petitioner approached District Magistrate for taking over physical possession of the mortgaged property. By order dated 31 July 2025, Petitioner’s Application under Section 14 of the SARFAESI Act was allowed and order was made for physical possession of the mortgaged property. Respondents filed Securitization Application No.874 of 2025 before Debts Recovery Tribunal (DRT) at Jabalpur. According to the Petitioner, no relief has been granted in favour of the Respondents in the said Securitization Application. Petitioner issued loan recall notice/invocation notice dated 27 May