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Bombay High Court

Infinity Fincorp Solutions Private ... vs Tushant Tukaram Malke And 3 Ors on 18 December, 2019

Author: G. S. Patel

Bench: G.S. Patel

                                                                          8-ARBP341-19.DOC




 Atul


      IN THE HIGH COURT OF JUDICATURE AT BOMBAY
           ORDINARY ORIGINAL CIVIL JURISDICTION
             ARBITRATION PETITION NO. 341 OF 2019


 Infinity Fiinorp  Forlutirn  Frvt Fttd                                         ...retitirnep
        Versus
 Tu hant FTukapam FMalke F& FOp                                             ...Re rndent


Mr MB Kale, with Juhi Bhogle & Akshata Teli,i/b GNP Legal, for the
     Petitioner.
Mr Mohan Pillai, i/b Madhavi Pillai, for Respondents Nos. 1 to 3.
Mr Vikas Srivastava, for Respondent No. 4.


                                      CORAM:              G.S. PATEL, J.
                                      DATED:              18th December 2019
 PC:-


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(Eh, Nrtwith tandina F anythina F tr F the F orntpapy F orntained Fhepeinabrve, Fin Fthe Fevent Fthat Fthe Ftendep, Fa Fa F pe ult Frf Fa Fohanoe Fin FA lioable Flaw Frp Frthepwi e, Fbeorme F entitled Ftr Fpeorvep Fthe Fdue Frwed Ftr Fit Frp Fbe Ftpeated Fa Fa F 'finanoial Fin titutirne Fundep Fthe FDRT FAot Fand Ftr Fexepoi e F piaht /pemedie F thepeundep, F the F Brpprwep F hepeby F ex pe ly F aapee F and F orn ent F that F the F tendep F hall F be F entitled Ftr Fexepoi e Fthe Fpiaht Fand Fpemedie Favailable Ftr Fthe F tendep F undep F the F DRT F Aot F inoludina F tr F peorvep F the F Brpprwepe Fdue Ffprm Fthe FBrpprwep Fand/rp Fthe Frprmrtep F rf F the F Brpprwep, F the F oeoupity F rprvidep F and/rp F the F auapantrp , F if F any, F rp F any F rthep F ep rn , F by F filina F Page 3 of 12 18th December 2019 ::: Uploaded on - 20/12/2019 ::: Downloaded on - 20/12/2019 21:12:33 ::: 8-ARBP341-19.DOC proeedina F with F any F rf F the F debt F peorvepy F tpibunal F orn tituted Fthepeundep. FIn Fadditirn, Fthe F aptie Faapee Fthat F the Ftendep Fi Fem rweped Ftr Fexepoi e Fpiaht Fand F rwep F undep F the F prvi irn F rf F the F DRT F Aot F a F afrpe aid, F the F prvi irn F ub-aptiole F(Ea, Ftr F(Ee, Frf Fthi FAptiole Fand Fthi F Aapeement F the F tendep F and F the F Brpprwep F hall, F at F the F r tirn Frf Fthe Flendep, Foea e Ftr Fhave Fafeot."

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o, That, F endina Fthe Fheapina Fand Ffinal Fdi r al Frf Fthe F apbitpatirn F proeedina Frp Fat Fany Ftime Faftep Fmakina Frf Fthe F Apbitpal FAwapd Fbut Fbefrpe Fit Fi Fenfrpoed Fin Faoorpdanoe Fwith F oeotirn F36 Frf Fthe FApbitpatirn Fand FCrnoiliatirn FAot F1996, F the FRe rndent FNr . F1 Ftr F3 Fbe Fdipeoted Ftr Fdi olr e Ftheip Fun- enoumbeped F pr eptie F and F u rn F di olr upe F theperf F the F Crupt F Reoeivep F may F be F a rinted F rn F the F aid F pr epty F undep FOpdep FXt FRule F1 Frf FC.r.C. Frf F19048;
d, That, F endina Fthe Fheapina Fand Ffinal Fdi r al Frf Fthe F apbitpatirn F proeedina Fap Fat Fany Ftime Faftep Fmakina Frf Fthe F Apbitpal FAwapd Fbut Fbefrpe Fit Fi Fenfrpoed Fin Faoorpdanoe Fwith F oeotirn F36 Frf FApbitpatirn Fand FCrnoiliatirn FAot F1996, Fthe F Re rndent FNr . F1 Ftr F3 Fbe Fdipeoted Ftr Fde r it Fa F um Frf FRs. 65,09,626/- (Rupees Sixty Five Lakh Nine Thousand Six Hundred and Twenty Sixty Only) F inoludina F rf F pinoi le Frvep Fdue, Fintepe t Fdue Fand F enal Fohapae Fdue Fa F rn F045.041.20419 Fwith Ffupthep Fa lioable Fintepe t F@ F13.25% F .a. F fprm F046/041/20419 Ftill F ayment Fand/rp Fpealizatirn Fwith Fthe F retitirnep F rp F in F thi F Herneble F Crupt F tr F eoupe F the F retitirnepe Folaim;
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6. Thi Fi Fa Fquite Fextparpdinapy F ituatirn. FI Fdr Fnrt F ee Fhrw FJain F oan Forntinue Ftr Froou y Fa Fflat Fentipely Ffpee Frf Fohapae. FIt Fi Ftpue Fthat F Jain F ha F filed F a F uit F in F the F City F Civil F Crupt F at F Dindr hi F aaain t F Re rndent FNr . F1 Fand F2 Fundep Fo eoifio FRelief FAot, Fbeapina Fouit F Nr. F2658 Frf F20419 Fbut Fthat F uit Fi Fyet Ftr Fbe Fadjudioated. FThe F pe ent F r itirn Fi Fthat FRe rndent FNr . F1 Fand F2 Fhave Fa Fpeai teped Ftpan fep F rf Ftitle Ftr Fthe Fflat Fin Ftheip Ffavrup, Frne Fthat Fha Fnrt Fbeen F et Fa ide Fby F the FCivil FCrupt Frf Form etent Fjupi diotirn. FThr e Ftitle Fdeed Fhave F been F de r ited F tr F orn titute F an F equitable F mrptaaae F with F the F retitirnep, Fwhioh F pima Ffaoie, Fthepefrpe, Fha F eoupity Frvep Fthe Fflat Fin F que tirn.

7. In F hrpt, F Re rndent F Nr . F 1 F tr F 3 F brpprwed F mrney F fprm F Infinity Fiinorp , F ianed Fand Fpeai teped Fa F ale/ upoha e Faapeement F with FJain Ffrp Fthe FGllrbe FHeeiaht Fflat, Falleaedly Fnevep F aid Ffrp Fit, Fnevep F trrk F r e irn Frf Fit, Fand Fmrptaaaed Fthat Fflat Ftr FInfinity Fiinorp .

8. Cru led Fwith Fthe Ffaot Fthat Fthepe Fi Fnr Fdenial Frf Fliability, Fthi F make Frut Fa Fmrpe Fthan Fa F ufoient F pima Ffaoie Foa e Ffrp Fa rintment F rf Fthe FCrupt FReoeivep Fbut Fthe FCrupt FReoeivep Fwill Fnrt Fdi tupb Fthe F r e irn Frf FJain, FRe rndent FNr. F4. FHerwevep, Ffprm FJanuapy F204204 F the FRe rndent FNr. F4, FNape h FJain, Fwill Fbe Fpequiped Ftr F ay Ftr Fthe F Crupt F Reoeivep F in F lieu Frf Fpryalty F an Famrunt F rf FR . F15,040404/- F ep F Page 7 of 12 18th December 2019 ::: Uploaded on - 20/12/2019 ::: Downloaded on - 20/12/2019 21:12:33 ::: 8-ARBP341-19.DOC mrnth Fwhioh Fi Fexaotly Fthe Famrunt F tated Fin Fhi Fleave Fand Flioen e F aapeement. F The F 4th F Re rndent F will F al r F entep F intr F an F Aaenoy F Aapeement Fwith Fthe FCrupt FReoeivep Fin Fpe eot Frf Fthi Fflat. F

9. All Forntentirn Frf Fthe F4th FRe rndent Fa Ftr Fbeina Fthe Frwnep F and Fhavina Fa Folaim Ftr Ftitle Fape Fex pe ly Fke t Fr en. Fiupthep Fthepe Fwill F be Fnr Fque tirn Frf FJain Fbeina Ftaken Ftr Fapbitpatirn Frp Fbeina Fbrund Fby F any Fapbitpal FAwapd Fa Fbetween Fthe Fretitirnep Fand FRe rndent FNr . F 1 Ftr F3.

10. iinally, F thi Frpdep Fi Frnly Fmeant Ftr F afeauapd Fthe Fflat. FThe F retitirnepe Fpeorvepy Fpemedie Faaain t Fthat Fflat Fape Fex lioitly Fmade F ubjeot Ftr Fthe Frutorme Frf Fthe F4th FRe rndente Ftitle F uit Ffiled Fin Fthe F Dindr hi FCity FCivil FCrupt. F

11. The Fretitirnep Fand FRe rndent FNr . F1 Ftr F3 Faapee Fu rn Fthe F a rintment F rf F Mp FBhavkap, Fpetiped FDi tpiot F Judae Ftr Fdeoide F the F di ute F and F difepenoe F api ina F fprm F the F aapeement F dated F 12th F oe tembep F20418 Fand Fa roiated Fdroument .

(a) Appointment of Arbitrator: F By F orn ent, F Mp F rV F Bavkap, Fpetiped Frpinoi al FDi tpiot F& Foe irn FJudae, Fi F hepeby Fnrminated Ftr Faot Fa Fa Forle FApbitpatrp Ftr Fdeoide F the Fdi ute Fand Fdifepenoe Fbetween Fthe F aptie Fundep F the Flran Faapeement Fdated F12th Foe tembep F20418.
(b) Communication to Arbitrator of this order: F Page 8 of 12 18th December 2019 ::: Uploaded on - 20/12/2019 ::: Downloaded on - 20/12/2019 21:12:33 ::: 8-ARBP341-19.DOC (Ei, A For y Frf Fthi Frpdep Fwill Fbe Formmunioated Ftr F the Fleapned Forle FApbitpatrp Fby Fthe FAdvroate F frp Fthe FA lioant Fwithin Frne Fweek Ffprm Ftrday F rf Fthe Frpdep Fbeina Fu lraded.

(Eii, In F additirn, F within F rne F week F rf F thi F rpdep F beina Fu lraded, Fthe FReai tpy Fwill Ffrpwapd Fan F rpdinapy F or y F rf F thi F rpdep F tr F the F leapned F orle F Apbitpatrp F at F the F frllrwina F r tal F and F email Faddpe e :

Arbitrator/s Mp F rV F Bavkap, F petiped F rpinoi al F Di tpiot F& Foe irn FJudae Address 16/22, FBake FHeru e, FMahapa htpa F Chambep F rf F Crmmepoe F tane, F 2nd F ilrrp, F Ofoe F Nr. F 3046, F Kalaahrda, Firpt, Mumbai F40404 F04041 Mobile 0422- F22874322 99872390467 Email bavkap. padi @amail.orm F
(c) Disclosure: FThe Fleapned Forle FApbitpatrp Fi Fpeque ted Ftr F frpwapd Fhi F tatement Frf Fdi olr upe Fundep Foeotirn F11(E8, F pead Fwith Foeotirn F12(E1, Frf Fthe FApbitpatirn FAot Ftr Fthe F rprthrnrtapy F and F oenirp F Ma tep F rf F thi F Crupt, F pefepenoina F thi F apbitpatirn F a lioatirn, F a F rrn F a F r ible, Fand Fin Fany Foa e F ufoiently Fin Fadvanoe Frf Fhi F entepina F u rn F the F pefepenoe F tr F hi F apbitpatirn. F That F tatement F will F be F petained F by F the F rprthrnrtapy F & F Page 9 of 12 18th December 2019 ::: Uploaded on - 20/12/2019 ::: Downloaded on - 20/12/2019 21:12:33 ::: 8-ARBP341-19.DOC oenirp F Ma tep Frn Fthe Ffile F rf Fthi Fa lioatirn. F Cr ie F will Fbe Faiven Ftr Fbrth F ide .
(d) Appearance before the Arbitrator: Fraptie Fwill Fa eap F befrpe Fthe Fleapned Forle FApbitpatrp Frn F uoh Fdate Fand Fat F uoh F laoe F a F he F nrminate F tr F rbtain F a pr piate F dipeotirn Fin Fpeaapd Ftr Ffixina Fa F ohedule Ffrp Form letina F leadina , Feto.
(e) Contact/communication information of the parties: F Crntaot F and F ormmunioatirn F aptioulap F ape F tr F be F prvided Fby Fbrth F ide Ftr Fthe Fleapned Forle FApbitpatrp F within F rne F week F rf F thi F rpdep F beina F u lraded. F The F infrpmatirn Fi Ftr Finolude Fa Fvalid Fand Ffunotirnal Femail F addpe .

(f ) Section 16 application: FThe Fpe rndent Fi Fat Flibepty Ftr F pai e Fall Fque tirn Frf Fjupi diotirn Fwithin Fthe Fmeanina Frf F eotirn F16 Frf Fthe FApbitpatirn FAot. FAll Forntentirn Fape F left Fr en. F

(g) Interim Application/s: F (Ei, The F pe ent Fretitirn Fundep Foeotirn F9 Frf Fthe F Apbitpatirn F Aot F frp F the F pemainina F pelief F rthep F than F thr e F apanted F abrve F will F be F tpeated, F heapd, F and F di r ed F rf F a F an F a lioatirn Fundep Foeotirn F17 Frf Fthe FAot. FAll F afdavit Ffiled Fin Fthe Foeotirn F9 F etitirn Fwill Fbe F tpeated F a F afdavit F filed F in F the F oeotirn F 17 F a lioatirn. Ftibepty F tr Fa ly F tr Fthe F leapned F Page 10 of 12 18th December 2019 ::: Uploaded on - 20/12/2019 ::: Downloaded on - 20/12/2019 21:12:33 ::: 8-ARBP341-19.DOC orle F Apbitpatrp F frp F leave F tr F file F fupthep F afdavit .

(Eii, The Fleapned Forle FApbitpatrp Fi Fpeque ted Ftr F di r e F rf F all F intepim F a lioatirn F at F the F eaplie t.

(h) Fees: FThe Fapbitpal Ftpibunale Ffee F hall Fbe Farvepned Fby F the FBrmbay FHeiah FCrupt F(Eiee Frayable Ftr FApbitpatrp , F Rule , F20418.

(i) Sharing of costs and fees: Fraptie Faapee Fthat Fall Fapbitpal F or t Fand Fthe Ffee Frf Fthe Fapbitpatrp Fwill Fbe Fbrpne Fby Fthe F twr F ide Fin Fequal F hape Fin Fthe Ffip t Fin tanoe.

(j) Consent to an extension if thought necessary. Fraptie F immediately Forn ent Ftr Fa Ffupthep Fexten irn Frf Fu Ftr F ix F mrnth Ftr Form lete Fthe Fapbitpatirn F hruld Fthe Fleapned F orle FApbitpatrp Ffind Fit Fneoe apy. F

(k) Venue and seat of arbitration: Fraptie Faapee Fthat Fthe F venue Fand F eat Frf Fthe Fapbitpatirn Fwill Fbe Fin FMumbai.

12. The Fretitirn Fi Fdi r ed Frf Fin Fthe e Ftepm . FThepe Fwill Fbe Fnr F rpdep Fa Ftr For t .

13. The F retitirnep F make F a F peque t F that F an F injunotirn F and F a F Reoeivep F in F pe eot F rf F anrthep F pr epty F at F B6042, F Neelyra F Vipat, F Buildina F Nr.7, F Neap F We tepn F Elx pe F Heiahway, F Malad F (EEla t,, F Mumbai F40404 F0497. FThe Fleapned FAdvroate Ffrp FRe rndent FNr . F1 Ftr F 3 F tate Frn Fin tpuotirn Fthat Fthi Fnrt Ftheip F pr epty. FI Fwill, Fthepefrpe, F Page 11 of 12 18th December 2019 ::: Uploaded on - 20/12/2019 ::: Downloaded on - 20/12/2019 21:12:33 ::: 8-ARBP341-19.DOC nrt Fbe Fable Ftr Fapant Fan Frpdep Fin Fthe e Ftepm Feithep Ffrp Fan Finjunotirn F rp F Reoeivep. F Herwevep, F libepty F tr F the F retitirnep F tr F make F an F a lioatirn Fundep Foeotirn F17 Fwith F ufoient F u rptina F aptioulap F befrpe Fthe Fleapned Forle FApbitpatrp.

(G. S. PATEL, J) Page 12 of 12 18th December 2019 ::: Uploaded on - 20/12/2019 ::: Downloaded on - 20/12/2019 21:12:33 :::