A.S. Iyer Constructions Pvt. Ltd. ... vs M/S. Classic Citi Investment Pvt. ...
2017 Latest Caselaw 7475 Bom

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                     IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                           NAGPUR BENCH, NAGPUR


             MISC. CIVIL (ARBITRATION) APPLICATION No.41 OF 2017


        A.S. Iyer Constructions Pvt. Ltd.,
        A company duly constituted under the 
        provisions of Indian Companies Act,
        having its Office at Plot No.8, 
        Old Verma Layout, Opposite Hanuman Mandir,
        Ambazari, Nagpur-440 033.
        through its Director,
        Shri Ananthakrishna Subramanian Iyer.        :      APPLICANT

                           ...VERSUS...

        M/s. Classic City Investments Pvt. Ltd.,
        A company duly constituted under the
        provisions of Indian Companies Act,
        having registered Office at 262, 
        Bund Garden Road, Pune-411 001.
        through its Director,
        Shri Rajesh Adwani, Site Office at
        Survey No.36/3-B, Koregaon Park Annex,
        Near ABC Farms & Innovation School,
        Ghorpadi, Pune-411 001.                                   :      NON-APPLICANTS


        =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-
        Shri C. Dharmadhikari, Advocate for the Applicant.
        Shri T.S. Bhatt, Advocate for the Non-applicants.
        =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-


                                                      CORAM  :   S.B. SHUKRE, J.

nd SEPTEMBER, 2017.

                                                      DATE      :   22

        ORAL JUDGMENT   :

        1.                 Heard.  





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        2.                 Rule.     Rule   made   returnable   forthwith.     Heard   finally   by

        consent.

3. Both parties have placed on record Pursis indicating two

names of Hon'ble retired Judges of the High Court or the Supreme Court.

They have also shown willingness to refer the matter to the arbitration of

any of these panel arbitrators. On perusal of Pursis of both sides, one

common name could be noticed and it is of Hon'ble Shri Justice (Retired)

A.P. Deshpande. Therefore, I see no difficulty in referring the matter to

the sole arbitrator Hon'ble Shri Justice (Retired) A.P. Deshpande and

accordingly he is appointed to be an arbitrator in the matter.

4. The applicant and the non-applicant shall deposit in this

Court an amount of Rs.15,000/- each as processing fees within two

weeks from the date of order.

5. If the applicant fails to deposit the amount of Rs.15,000/-

within stipulated time, this application shall stand dismissed without

reference to the Court.

6. If the non-applicant fails to deposit the processing fees of

Rs.15,000/- within stipulated time, the non-applicant shall be liable to

pay penal interest at the rate of 2% per month on Rs.15,000/-, which

shall be payable to the applicant, irrespective of the result of the

arbitration.

7. While referring the dispute, record and the proceedings

J-mca41.17.odt 3/3

received from previous learned arbitrator shall also be sent to the

arbitrator appointed by this order.

8. Rule is made absolute accordingly.

JUDGE okMksns