Mr. Reemar Malhotra & Ors. vs Bajaj Finance Limited
2022 Latest Caselaw 1199 Del

                                      $~5
                                      *     IN THE HIGH COURT OF DELHI AT NEW DELHI
                                      %                         Judgment delivered on:        26th April, 2022

                                      +     ARB.P. 365/2022
                                      MR. REEMAR MALHOTRA & ORS.                              ..... Petitioners
                                                                versus

                                      BAJAJ FINANCE LIMITED                                  ..... Respondent
                                      Advocates who appeared in this case:
                                      Forthe Petitioner:        Mr. Haresh Rai Chaudhary, Advocate (through VC)

                                      Forthe Respondent:        Mr.Pranay Sarthi, Advocate

                                      CORAM:-
                                      HON'BLE MR JUSTICESANJEEV SACHDEVA

                                                                   JUDGMENT

SANJEEV SACHDEVA, J

1. Petitioner seeks appointment of an Arbitral Tribunal pursuant to two Loan Agreements dated 25.01.2018 and 13.02.2018.

2. Learned counsel appearing for the respondent submits that without prejudice to their rights and contentions, they have no objection to an Arbitral Tribunal being constituted.

3. In view of the above, the petition is allowed.

4. Accordingly, with the consent of the parties, Mr. Justice

Digitally Signed Signature Not Verified By:JUSTICE SANJEEV Digitally Signed By:KUNAL SACHDEVA MAGGU Signing Date:26.04.2022 Signing Date:27.04.2022 15:23:33 23:23 This file is digitally signed by PS to HMJ Sanjeev Sachdeva.

V.K.Jain, (Retd) former Judge of this Court (Mobile No. + 91 9650116555) is appointed as the Arbitrator Tribunal. The Arbitral tribunal shall adjudicate the claims and counter claims, if any, of the parties.

5. The fees of the learned Arbitrator shall be as per the Fourth Schedule of the Arbitration and Conciliation Act, 1996.

6. The Arbitrator shall furnish the requisite disclosure under section 12 of the Arbitration and Conciliation Act, 1996 within two weeks of entering reference.

7. The petition is disposed of in the above terms.

SANJEEV SACHDEVA, J APRIL26, 2022 'rs'

Digitally Signed Signature Not Verified By:JUSTICE SANJEEV Digitally Signed By:KUNAL SACHDEVA MAGGU Signing Date:26.04.2022 Signing Date:27.04.2022 15:23:33 23:23 This file is digitally signed by PS to HMJ Sanjeev Sachdeva.