Chief Justice's Court
Case :- ARBITRATION AND CONCILI. APPL.U/S11(4) No. - 94 of 2014 Applicant :- Satwant Singh Batra Opposite Party :- Ashsih Nanda And Anr.
Counsel for Applicant :- Ashish Kumar Singh,Ajay Kumar Singh Counsel for Opposite Party :- Nalin Kumar (Sharma)
Hon'ble Govind Mathur,Chief Justice
The applicant Sri Satwant Singh Batra entered into an agreement with the respondents to advance certain co-lateral security in the form of mortgaging immovable property.
Clause 7 of the agreement prescribes that all types of disputes and differences, if any, arising between the parties with regard to the meaning interpretation and implementation of the memorandum of understanding agreement, then the same shall referred to sole arbitrator appointed by the second party.
As per provisions of the Arbitration and Conciliation Act, 1996, a dispute between the parties arose as the respondent failed to clear the advance and also on count of failure to return the amount of Rs.1.40 crores. By a notice dated 28th February, 2013, a demand was made for appointment of a sole Arbitrator as per clause-5 of the agreement. Being failed to have any response to the same, the instant application is preferred.
None present on behalf of the respondent.
Having considered all facts of the case, especially the averments contained in the notice dated 28th February, 2013, I am inclined to accept the application. Accordingly, the same is allowed. Sri S.N. Mishra, a retired member of Indian Administrative Services, R/o 2/219, Near Lohia Park, Vibhuti Khand, Gomti Nagar, Lucknow having Mobile No.09415564082 is hereby appointed as the sole Arbitrator to resolve the dispute between the parties as mentioned in the notice dated 28th February, 2013 subject to his consent. The consent shall be availed by the applicant and in the event of failure to have the same, the applicant shall be at liberty to move an application to revive the instant application preferred as per provisions of Section 11 of the Act of 1996. The Arbitrator appointed shall be entitled to have the remuneration as per provisions of Schedule-IV of the Act of 1996.
The application stands disposed of accordingly.
Order Date :- 22.1.2019 Bhaskar (Govind Mathur, C.J.)