Delhi High Court
Hero Fincorp. Limited vs Feedback Energy Distribution ... on 4 May, 2022
$~26
* IN THE HIGH COURT OF DELHI AT NEW DELHI
% Judgment delivered on: 04th May, 2022
+ ARB.P. 1114/2021
HERO FINCORP. LIMITED ..... Petitioner
versus
FEEDBACK POWER OPERATIONS AND MAINTENANCE
SERVICES PVT. LTD. & ANR. ..... Respondent
Advocates who appeared in this case:
For the Petitioner: Mr. Ajay Kohli, Advocate.
For the Respondent: Ms. Aditi Sharma and Mr. Neeraj Yadav,
Advocates for respondents No.1 and 3.
Mr. Vijay K. Singh and Mr. Himanshu Dubey,
Advocates for defendant No.2.
CORAM:-
HON'BLE MR JUSTICE SANJEEV SACHDEVA
JUDGMENT
SANJEEV SACHDEVA, J
1. Petitioner seeks reference of disputes arising out of the
Working Capital Term Loan, sanctioned vide sanction letter dated
22.07.2019 in favour of respondent No.1. Respondent No.2 is the
personal guarantor and respondent No.3 is the corporate guarantor for
Digitally Signed
Signature Not Verified By:JUSTICE SANJEEV
Digitally Signed By:KUNAL SACHDEVA
MAGGU Signing Date:04.05.2022
Signing Date:05.05.2022 08:42:00 23:52
This file is digitally signed by PS
to HMJ Sanjeev Sachdeva.
the subject loan transaction.
2. Learned counsels appearing for the respondents No.2 and 3 i.e.,
the personal and corporate guarantor submit that they are not parties
to the main loan agreement, however, they are parties only to the
respective deed of guarantee.
3. It is pointed out by learned counsel appearing for the petitioner
that both the deeds of guarantee also contains an independent
arbitration clause and the main underlying contract is the Working
Capital Term Loan Agreement under which arbitration is sought.
4. Learned counsel appearing for respondents No.2 and 3 submit
that without prejudice to their defence and while reserving their right
to raise an issue before the Arbitral Tribunal, they have no objection
to the disputes being referred to arbitration.
5. Accordingly, with the consent of the parties, Mr. Justice
Manmohan Sarin (retd) former Chief Justice, Jammu and Kashmir
High Court (Mobile # +91 9818000210) is appointed as the sole
Arbitrator to adjudicate the claims and counter claims, if any, of the
parties
6. The fees of the learned Arbitrator shall be as per the Fourth
Schedule of the Arbitration and Conciliation Act, 1996.
Digitally Signed
Signature Not Verified By:JUSTICE SANJEEV
Digitally Signed By:KUNAL SACHDEVA
MAGGU Signing Date:04.05.2022
Signing Date:05.05.2022 08:42:00 23:52
This file is digitally signed by PS
to HMJ Sanjeev Sachdeva.
7. The Arbitrator shall furnish the requisite disclosure under
section 12 of the Arbitration and Conciliation Act, 1996 within two
weeks of entering reference.
8. The petition is disposed of in the above terms.
9. The next date of 24.05.2022 is cancelled.
SANJEEV SACHDEVA, J
MAY 4, 2022
NA
Digitally Signed
Signature Not Verified By:JUSTICE SANJEEV
Digitally Signed By:KUNAL SACHDEVA
MAGGU Signing Date:04.05.2022
Signing Date:05.05.2022 08:42:00 23:52
This file is digitally signed by PS
to HMJ Sanjeev Sachdeva.
