WIDESCREEN HOLDINGS PRIVATE LIMITED Vs. RELIGARE FINVEST LIMITED

JUDGEMENT

(1.) We have heard Shri Neeraj Kishan Kaul, learned Senior Advocate appearing for the petitioners and Shri Ashish Dholakia, learned Senior Advocate for the respondents.

(2.) Considering the fact that even the loan agreement which contains the arbitration clause which was sought to be impounded is not produced before any Tribunal and/or Court and till then, there is no question of impounding any document, the High Court is justified in passing the impugned order.

(3.) Shri Kaul, learned Senior Advocate has submitted that the original applicant(s) is not placing on record the original loan agreement containing the arbitration clause. If the original claimant who has initiated the arbitration proceedings relying upon the arbitration clause contained in the loan agreement is not producing the same, it is ultimately for the learned Arbitrator to pass an appropriate order and to take into consideration such a conduct. So far as the impounding of the document is concerned unless and until the same is produced on record before any Court/Tribunal, there is no question of any impounding the same, as observed hereinabove.