Axis Finance Limited v. Abhijeet Enterprises

O R D E R %

20.11.2024 I.A. 45595/2024 (Exemption)

Allowed, subject to all just exceptions. ARB.P. 1811/2024

¶1This Petition has been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 seeking appointment of an Arbitrator as per the Clause 35 of the loan Agreement to adjudicate on the disputes which have arisen between the parties.

¶2Clause 35 of the Loan Agreement stipulates that the seat of arbitration can be either Delhi or Bombay depending on the choice of the lender, i.e. the Petitioner herein. In the present case, the Respondent is a resident of Pune. The agreement has been entered into in Pune. Since the Petitioner had the liberty to choose either Delhi or Bombay as the seat of arbitration, it was suggested by this Court to the learned Counsel for the Petitioner that the most convenient place to conduct arbitration for both the parties in the This is a digitally signed order. present case should be Bombay and not Delhi.

¶3Learned Counsel for the Petitioner accepts the suggestion of this Court and seeks permission to withdraw the present Petition with liberty to file an appropriate Petition before the Court of competent jurisdiction at Bombay.

¶4Leave and liberty, as prayed for, is granted.

¶5The Petition is disposed of as withdrawn, along with the pending applications, if any.

SUBRAMONIUM PRASAD, J NOVEMBER 20, 2024 Rahul

This is a digitally signed order.

* IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 1811/2024 AXIS FINANCE LIMITED .....Petitioner Through: Mr. Abu John Mathew, Advocate. versus ABHIJEET ENTERPRISES .....Respondent Through: CORAM: HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD