Karnataka High Court
Caterpillar Financial Services India ... vs Ambati Amarendra Reddy on 16 November, 2022
Author: B M Shyam Prasad
Bench: B M Shyam Prasad
1
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 16TH DAY OF NOVEMBER, 2022
BEFORE
THE HON'BLE MR JUSTICE B M SHYAM PRASAD
CIVIL MISC. PETITION NO.552 OF 2022
BETWEEN:
CATERPILLAR FINANCIAL SERVICES
INDIA PRIVATE LIMITED
A COMPANY INCORPORATED AND
REGISTERED UNDER
THE COMPANIES ACT 1956, HAVING ITS
REGISTERED OFFICE AT
6TH FLOOR, TOWER B PRESTIGE
SHANTINIKETAN THE BUSINESS PRECINCT
WHITEFIELD MAIN ROAD, BENGALURU
KARNATAKA-560048.
...PETITIONER
(BY SRI. THAKUR RISHABA RAJ., &
SRI. RAGHUNATH J., ADVOCATES)
AND:
1. AMBATI AMARENDRA REDDY
H NO.83-73-1, NEAR RTC COLONY,
PUTLAMPALLI, CUDDAPAH,
CUDDAPAH, ANDHRA PRADESH-516 002.
[email protected]
PHONE NO.9110326403.
2. GANGAVARAM MAMATHA
H NO.83/73-1, SKDR COLONY,
2
KESAVAREDDY SCHOOL KADAPA
CUDDAPAH, ANDHRA PRADESH-516 002.
PHONE NO.9110326403.
...RESPONDENTS
(RESPONDENT SERVED-UNREPRESENTED)
THIS CIVIL MISCELLANEOUS PETITION IS FILED
UNDER SEC.11(6-A) OF THE ARBITRATION AND
CONCILIATION ACT 1996, PRAYING TO I) APPOINT A SOLE
ARBITRATOR TO RESOLVE THE DISPUTE AND
DIFFERENCES AMONGST THE PARTIES IN TERMS OF
CLAUSE 21 OF THE LOAN AND SECURITY AGREEMENT
DATED 30/03/2021 VIDE ANNEXURE-B EXECUTED
BETWEEN THE PETITIONER AND THE RESPONDENTS.
THIS PETITION, COMING ON FOR ADMISSION, THIS
DAY, THE COURT MADE THE FOLLOWING:
ORDER
The petitioner, who has extended certain financial assistance to the respondents under the Loan and Security Agreement executed in the month of March 2021, has sought for appointment of a Sole Arbitrator and for conduct of the proceedings at the Arbitration 3 and Conciliation Centre (Domestic and International), Bengaluru. The loan agreement contemplates resolution of the disputes between the parties in accordance with the Arbitration and Conciliation Act, 1996 and the Arbitration and Conciliation Centre Rules, 2012.
The learned counsel for the petitioner submits that the respondents have defaulted in paying the loan and as such, notice for commencement of arbitral proceedings is issued on 26.05.2022. The records also indicate that the respondents, though served with the notice of the present petition, have chosen to remain absent. The necessary conditions for exercise of jurisdiction under Section 11(5) of the Arbitration and Conciliation Act, 1996 are satisfied. As requested by the learned counsel for the petitioner, a retired District Judge must be appointed as the Sole Arbitrator. Hence, the following:
4
ORDER [a] The petition is allowed. [b] Shri M. K. Sripathi, a retired District Judge, Address: No.417/1, (Upstairs), 12th 'A' Main, Sector A III Phase, Yelahanka Newtown, Bengaluru - 560 064, is appointed as the Sole Arbitrator to enter reference of the dispute between the petitioner and the respondents and conduct the proceeding at the Arbitration and Conciliation Centre (Domestic and International), Bengaluru according to the Rules governing the Arbitration and Conciliation Centre (Domestic and International), Bengaluru.
[c] The Registry is directed to communicate this order [by E-mail] to the Arbitration and Conciliation Centre (Domestic and International), Bengaluru and 5 also to Shri M. K. Sripathi, a retired District Judge, as required under the Appointment of Arbitrators by the Chief Justice of Karnataka High Court Scheme, 1996.
Sd/-
JUDGE nv