Telangana High Court
M/S. W1Ldblue Digital Llp vs M/S. Svb Networks Pvt Ltd on 11 December, 2024
THE HON'BLE THE CHIEF JUSTICE ALOK ARADHE
ARBITRATION APPLICATION No.262 of 2024
ORDER:
Ms. Grishma, learned counsel represents Ms. Pragathi Mandapalle, learned counsel for the applicant.
2. None has appeared on behalf of the respondent though served.
3. This application is filed under Section 11(5) & (6) of the Arbitration and Conciliation Act, 1996 seeking appointment of an arbitrator to resolve the disputes between the parties.
4. Facts giving rise to filing of this application briefly stated are that the parties have entered into an unsecured loan agreement on 31.03.2022. Clause 23 of the aforesaid agreement contains an arbitration clause, which is extracted below for the facility of reference:
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"23. ARBITRATION:
a) The parties shall be entitled to refer all disputes and/or differences arising out of this agreement to an arbitrator appointed under the Arbitration and Conciliation Act, 1996.
b) The arbitration shall be conducted as follows:
i. The arbitration shall be conducted by a sole arbitrator, to be appointed by the lender. ii. All proceedings in any such arbitration shall be conducted in English. The venue of the arbitration proceedings shall be Hyderabad.
c) The arbitral award shall be final and binding on the parties, and the parties agree to be bound thereby and to act accordingly."
5. The dispute between the parties has arisen. Therefore, the applicants invoked the arbitration clause and sent a notice under Section 21 of the aforesaid Act on 07.08.2024. The respondent sent reply to the aforesaid notice on 14.08.2024. Thereafter, this application has been filed.
6. I have heard the learned counsel for the applicant.
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7. From a perusal of the record, it is evident that the parties have entered into an unsecured loan agreement which contains an arbitration clause. The dispute has arisen between the parties which requires resolution in the manner agreed to by the parties.
8. Therefore, Mr. G.Gopala Krishna Murthy, a retired District and Sessions Judge (resident of H.No.3-4-756/1, Flat No.102, Sai Raghavendra Residency, Barkathpura, Hyderabad-500027) is appointed as sole arbitrator to adjudicate the dispute between the parties.
9. Accordingly, the arbitration application is allowed.
Miscellaneous applications pending, if any, shall stand closed. No order as to costs.
____________________ ALOK ARADHE, CJ Date: 11.12.2024 ES