Delhi High Court - Orders
Bell Finvest India Limited vs A U Small Finance Bank Limited on 28 April, 2022
Author: Anup Jairam Bhambhani
Bench: Anup Jairam Bhambhani
$~6
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ ARB.P. 453/2021
BELL FINVEST INDIA LIMITED ..... Petitioner
Through: Mr. Karan Mehta, Advocate.
versus
A U SMALL FINANCE BANK LIMITED ..... Respondent
Through: Mr. Manish Kumar, Advocate.
CORAM:
HON'BLE MR. JUSTICE ANUP JAIRAM BHAMBHANI
ORDER
% 28.04.2022 Mr. Karan Mehta, appearing as proxy counsel for Mr. Ravi Dutta, learned counsel for the petitioner, submits that the latter is not available today.
2. Mr. Manish Kumar, learned counsel for the respondent, submits that the present petition is not maintainable inter-alia for the reason that proceedings inter-se the petitioner and the respondent under the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 ('SARFAESI Act') are pending before the Debt Recovery Tribunal (DRT), Jaipur and are on the verge of conclusion.
3. Though it is represented on behalf of the petitioner, that as per section 11 of the SARFAESI Act, inter-se disputes between financial institutions are to be referred to conciliation or arbitration under the Arbitration & Conciliation Act, 1996 ('A&C Act'), he accepts that no Signature Not Verified Digitally Signed By:SUNITA RAWAT Signing Date:30.04.2022 Arb. P. 453/2021 Page 1 of 2 16:53:52 application under section 8 of the A&C Act has been moved before the DRT till date. Mr. Kumar disputes the applicability of section 11 of SARFAESI Act to the present matter.
4. In view of the above, re-notify on 16th September 2022.
5. Counsel seek liberty to place on record requisite case law on which they seek to place reliance. They are permitted to do so, before the next date of hearing; with copies to the opposing counsel.
ANUP JAIRAM BHAMBHANI, J APRIL 28, 2022 Ne Signature Not Verified Digitally Signed By:SUNITA RAWAT Signing Date:30.04.2022 Arb. P. 453/2021 Page 2 of 2 16:53:52