Bombay High Court
Holista Tranzworld Private Limited And ... vs Iifl Wealth Finance Ltd on 6 March, 2019
Author: G. S. Kulkarni
Bench: G. S. Kulkarni
909 CARBPL 1160 OF 2018
vks
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMMERCIAL ARBITRATION PETTIION (L) NO.1160 OF 2018
WITH
NOTICE OF MOTION NO.450 OF 2019
IN
COMMERCIAL ARBITRATION PETTIION (L) NO.1160 OF 2018
Ecogreen Cleantech Pvt. Ltd and anr ... Petitioners.
V/s.
IIFL Wealth Finance Ltd ... Respondents
ALONGWITH
COMMERCIAL ARBITRATION PETTIION (L) NO.1165 OF 2018
WITH
NOTICE OF MOTION NO.457 OF 2019
IN
COMMERCIAL ARBITRATION PETTIION (L) NO.1165 OF 2018
Holista Tranzworld Pvt. Ltd and anr ... Petitioners.
V/s.
IIFL Wealth Finance Ltd ... Respondents
• Ms. Kalyani Tulankar, for the Petitioner.
• Ms. Kiran Gandhi i/by Manilal Kher Ambala & Co., for respondents
CORAM : G. S. KULKARNI, J.
DATE : 6th MARCH, 2019. P.C. : 1] Heard Ms. Kalyani Tulankar, for the petitioner and Ms. Kiran
Gandhi, learned counsel for the respondents.
2] These petitions were disposed of by order dated 14 th February, 1/3 ::: Uploaded on - 08/03/2019 ::: Downloaded on - 14/03/2019 01:16:34 ::: 909 CARBPL 1160 OF 2018 2019 passed by this Court; whereby by consent of the parties Mr. Rohan Rajadhyaksha, Advocate was appointed as prospective sole Arbitrator to adjudicate the disputes and differences between the parties arising under the Master Financing Agreement dated 6 th January 2017 and the personal guarantees which are subject matter of these proceedings.
3] It is informed by learned counsel for both the parties that the prospective sole Arbitrator so appointed has expressed his inability to act as an Arbitrator and therefore, this is an application that another arbitrator be appointed.
4] In view of above circumstances the following order.
Order
i) Mr. Gaurav Mehta, Advocate is appointed as a prospective sole arbitrator to adjudicate the disputes and differences between the parties arising under the Master Financing Agreement dated 6 th January 2017 and the personal guarantees which are subject matter of these proceedings.
ii) The learned prospective sole arbitrator, fifteen days before entering the arbitration reference, shall forward a statement of disclosure as per the requirement of Section 11(8) read with Section 12(1) of the Arbitration and Conciliation Act, 1996, to the Prothonotary and Senior Master of this Court, to be placed on record of this petition with a copy to be forwarded to the parties.
iii) At the first instance, the parties are directed to appear before the 2/3 ::: Uploaded on - 08/03/2019 ::: Downloaded on - 14/03/2019 01:16:34 ::: 909 CARBPL 1160 OF 2018 prospective Arbitrator on a date which may be fixed by the learned prospective Arbitrator within ten days from the disclosure as may be received by the parties.
iv]The Petitioner, if so desires may move an application under Section 17 of the Arbitration and Conciliation Act, 1996 within two weeks of the learned Arbitrator entering a reference.
v] The learned Arbitrator shall endeavour to decide Section 17 application as expeditiously as possible and preferably within a period of two months from the date of filing of this said application.
vi] Ad-interim order passed by this Court in terms of prayer clause (b) of the petition shall continue to operate till the adjudication of Section 17 Application and an order adverse to the petitioner is passed, for a period of one week thereafter.
Copies of this order be immediately forwarded to the learned prospective arbitrator on the following address:-
Chambers of Mustafa S. Doctor 29/29A Ali Chambers, 2nd floor, NM Road, Fort, Mumbai 400 023.
[G. S. KULKARNI, J] 3/3 ::: Uploaded on - 08/03/2019 ::: Downloaded on - 14/03/2019 01:16:34 :::