SPENTEX INDUSTRIES LTD Vs. O.P. LOHIA

JUDGEMENT

(1.) THE petition under Section 11(4) of the Arbitration Act, 1996 is preferred with respect to a Share Purchase Agreement dated 17th February, 2006. The counsel for the sole respondent appeared on the very first date when the petition came up for admission and sought time to file reply. Reply is shown to have been filed on 2nd September, 2009. The counsel for the petitioner today sought time to file rejoinder. However, considering the nature of the proceedings and a defect found in the petition, the request for time has been declined.

(2.) THE Share Purchase Agreement dated 17th February, 2006 (supra) is between the petitioner on the one hand and "the persons as detailed in Annexure-I, each of them acting through their duly constituted attorney Mr Om Prakash Lohia" collectively referred to as "Sellers" on the other hand. Anexure-I to the Agreement gives particulars of 11 persons as sellers, including Mr Om Prakash Lohia.

(3.) THE petition has been preferred stating that arbitrable disputes having arisen, the petitioner issued notice to the respondent i.e., to Mr Om Prakash Lohia only, nominating its arbitrator and calling upon the said Mr Lohia to appoint an arbitrator from his side within 30 days and the said Mr. Om Prakash Lohia failed to appoint the arbitrator.