Bombay High Court
Idfc First Bank Ltd. ( Formerly Known As ... vs Bell Finvest India Ltd. And Anr on 16 December, 2021
Author: Madhav J. Jamdar
Bench: G.S. Patel, Madhav J. Jamdar
Digitally signed
by HEMANT 901-ASWP-7348-2020-2-OSWPL-28740-2021.DOC
HEMANT CHANDERSEN
CHANDERSEN SHIV
SHIV Date:
2021.12.17
11:00:37 +0530
hcs
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION
WRIT PETITION NO. 7348 OF 2021
IDFC First Bank Ltd ...Petitioner
Versus
Bell Finvest India Ltd. & Anr. ...Respondents
WITH
ORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION (L) NO. 28740 OF 2021
Tagus Engineering Pvt. Ltd. & Anr. ...Petitioners
Versus
Reserve Bank of India & Anr. ...Respondents
Mr Mustafa Doctor,with Mr Rahul Lakhiani and Ms Smriti Jha i/b
Juris Corp for the Petitioner.
Mr Chetan Kapadia,with Rohan Agarwal i/b G Anirudh
Purusothaman for Respondent No 1.
CORAM G.S. Patel &
Madhav J. Jamdar, JJ.
DATED: 16th December 2021
PC:-
Page 1 of 2
16th December 2021
901-ASWP-7348-2020-2-OSWPL-28740-2021.DOC
1. In both matters we grant/Continue stay because prima facie we are not satisfied that the arbitration can proceed in view of the decision in Vidya Drolia and Ors v Durga Trading Corporation.1 However, we propose to hear the matters finally at the stage of admission at the earliest possible date.
2. We list the matters on 10th February 2022 subject only to overnight part-heard. All contentions are kept open including the issue of maintainability of the Petitions.
Writ Petition (L) 28740 OF 2021
3. If any application is required for extension of the arbitral mandate, both sides state that they will do so at a without prejudice basis and agree to an extension so that the arbitration itself is not compromised, should it be held that the arbitration is in fact validly taken in law.
4. The sole arbitrator is requested not to make and publish the award before 10th February 2022.
5. All concerned will act on production of a digitally signed copy of this order.
(Madhav J. Jamdar, J) (G. S. Patel, J) 1 (2021) 2 SCC 1 Page 2 of 2 16th December 2021