Premco Rail Engineers Limited vs Container Corporation Of India ...
2022 Latest Caselaw 1248 Del

                                      $~2
                                      *     IN THE HIGH COURT OF DELHI AT NEW DELHI
                                      %                          Judgment delivered on: 27th April, 2022

                                      +     ARB.P. 192/2022
                                      PREMCO RAIL ENGINEERS LIMITED                          ..... Petitioner

                                                                 versus
                                      CONTAINER CORPORATION OF
                                      INDIA LIMITED                                          ..... Respondent

                                      Advocates who appeared in this case:
                                      For the Petitioner: Mr. C.S. Jha, Mr. Anjan Datta, Mr. Sujoy Chatterjee and
                                                          Mr. P.D. Banerjee, Advocates

                                      For the Respondent: Mr. Rishi K. Awasthi and Mr. Piyush Vatsa, Advocates

                                      CORAM:-
                                      HON'BLE MR. JUSTICE SANJEEV SACHDEVA

                                                                    JUDGMENT

SANJEEV SACHDEVA, J

1. Petitioner seeks appointment of an Arbitral Tribunal pursuant to the agreement dated 13.05.2016.

2. The disputes are in excess of Rs. 25 lakhs and the arbitration clause 64 of the agreement stipulates that the disputes shall be referred to an Arbitral Tribunal comprising of three members.

3. Learned counsel appearing for the parties submits that keeping

Digitally Signed Signature Not Verified By:JUSTICE SANJEEV Digitally Signed By:KUNAL SACHDEVA MAGGU Signing Date:28.04.2022 Signing Date:29.04.2022 11:22:27 20:45 This file is digitally signed by PS to HMJ Sanjeev Sachdeva.

in view the nature of disputes, though the value is exceeding Rs. 25 lakhs, they pray that the disputes be referred to Sole Arbitral Tribunal.

4. Since the parties are agreeable to reference of their disputes to arbitration, with the consent of the parties and without prejudice to their rights and contentions, Mr. Hori Lal, Executive Director (Mobile No. +91 9350624643; email: [email protected]) is appointed as the Sole Arbitrator to 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. Petition is disposed of in the above terms.

SANJEEV SACHDEVA, J APRIL 27, 2022 'rs'

Digitally Signed Signature Not Verified By:JUSTICE SANJEEV Digitally Signed By:KUNAL SACHDEVA MAGGU Signing Date:28.04.2022 Signing Date:29.04.2022 11:22:27 20:45 This file is digitally signed by PS to HMJ Sanjeev Sachdeva.