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HIGH COURT OF BOMBAY
Sandeep V. Marne, J
Aditya Birla Housing Finance Limited – Appellant
Versus
Axis Bank Limited – Respondent
| Table of Content |
|---|
| 1. loan takeover dispute blocks security interest transfer (Para 1 , 2 , 3 , 4 , 5 , 6 , 7) |
| 2. sarfaesi section 11 mandates inter-creditor arbitration (Para 8 , 9 , 10 , 11 , 12) |
| 3. secured creditor status required for sarfaesi invocation (Para 13 , 14 , 15 , 16 , 17 , 18) |
| 4. contractual arbitration valid against borrowers (Para 19 , 20 , 21 , 22) |
| 5. sarfaesi s11 applies without secured creditor precondition (Para 23 , 24 , 25 , 26) |
| 6. nedfi inapplicable to inter-creditor arbitration disputes (Para 27 , 28 , 29 , 30) |
| 7. bank of india defines s11 non-payment dispute scope (Para 31 , 32 , 33 , 34 , 35) |
| 8. broad s11 coverage for creditor disputes on non-payment (Para 36 , 37 , 38 , 39 , 40 , 41) |
| 9. statutory fiction creates arbitration agreement under s11 (Para 42 , 43 , 44) |
| 10. s11 applies despite imperfect security interest (Para 45 , 46 , 47 , 48 , 49) |
| 11. single arbitrator appointed for all disputes (Para 50 , 51 , 52 , 53) |
JUDGMENT:
1) This is a Petition filed under Section 11 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) raising an issue of seminal importance about permissibility to conduct arbitration under Section 11 of the Securitisation and Reconstructi
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