Supreme Court - Daily Orders
Aad Finlease vs M/S Ofg Hong Kong Ltd on 24 March, 2025
Author: Sanjay Kumar
Bench: Sanjay Kumar
IN THE SUPREME COURT OF INDIA
CIVIL ORIGINAL JURISDICTION
ARBITRATION PETITION NO. 37 OF 2024
AAD FINLEASE ..... PETITIONER(S)
VERSUS
M/S. OFG HONG KONG LTD. & ORS. ..... RESPONDENT(S)
O R D E R
The respondents have not entered appearance despite service of notice. They are accordingly set ex parte.
The learned counsel appearing for the petitioner has drawn our attention to Clause 28 in the Memorandum of Understanding dated 13.03.2019 entered into between the parties, which reads as under:-
“28. All disputes arising in connection with this Agreement between the parties, to the extent possible, may be settled amicably by prompt good faith negotiations between the representatives of the Parties. In default of such amicable settlement within thirty (30) days of the commencement of discussions, the dispute shall then be referred to a sole arbitrator appointed with mutual consent of the parties and be finally settled under the provisions of the Arbitration and Conciliation Act, 1996. The decision of the arbitrators shall be final and binding upon the Parties Signature Not Verified Digitally signed by without any right of appeal or review on any grounds Deepak Guglani Date: 2025.03.26 18:24:46 IST Reason: whether in law or equity before any judicial or government body, except as may be provided under the 1 Arbitration and Conciliation Act, 1996. Any such arbitration proceeding shall be held in Delhi (India) and the language of Arbitration shall be English. The arbitrator appointed to resolve the dispute shall be under obligation to give reasoned award and shall expeditiously resolve the dispute preferably within a period of 15 months from the date of his/her appointment.” Earlier, the petitioner, AAD Finlease, had initiated proceedings under Section 9 of the Arbitration and Conciliation Act, 19961, before the District Court at Patiala House Complex, New Delhi.
In view of the assertions made in the present petition under Section 11(6) read with Sections 11(9) and 11(12)(a) of the 1996 Act, the same is allowed.
Mr. Rakesh Khanna, Senior Advocate, is appointed as the sole Arbitrator to adjudicate and decide the disputes inter se the parties.
The sole Arbitrator may make a declaration in terms of Section 12 of the Arbitration and Conciliation Act, 1996, within 15 days from the date a copy of this order is received by him. The fee schedule prescribed for international arbitrations by the Delhi International Arbitration Centre shall apply. The arbitration petition is disposed of in the above terms. All pleas and contentions of the parties are left open. 1 For short, “1996 Act.” 2 Pending application(s), if any, shall stand disposed of.
................CJI.
(SANJIV KHANNA) ..................J. (SANJAY KUMAR) ..................J. (K.V. VISWANATHAN) NEW DELHI;
MARCH 24, 2025.
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ITEM NO.30 COURT NO.1 SECTION PIL-W
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
ARBITRATION PETITION NO. 37 OF 2024 AAD FINLEASE ..... PETITIONER(S) VERSUS M/S. OFG HONG KONG LTD. & ORS. ..... RESPONDENT(S) Date : 24-03-2025 This matter was called on for hearing today. CORAM :
HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE SANJAY KUMAR HON'BLE MR. JUSTICE K.V. VISWANATHAN For Petitioner(s) :
Mr. Raavi Yogesh Venkata, AOR Ms. Snigdha Singh, Adv. Mr. Kumar Shashwat, Adv. For Respondent(s) :
UPON hearing the counsel the Court made the following O R D E R The arbitration petition is disposed of in terms of the signed order.
Pending application(s), if any, shall stand disposed of.
(DEEPAK GUGLANI) (R.S. NARAYANAN) AR-cum-PS ASSISTANT REGISTRAR
(signed order is placed on the file) 4