L AND T FINANCE LIMITED Vs. SANGEETA BHANSALI

JUDGEMENT

(1.) The dispute between the parties is arising out of Loan Agreements. The Respondent no. 1 is Borrower who had approached and applied for mortgaged loan facilities from the Applicant-claimant. The Respondent no. 2 is the Co'Borrower for the loan advanced to the Respondent no. 1. Since the dispute arose between the parties under the said agreement, the claimant invoked Arbitration Clause, hence the lender ' L and T Finance, appointment Sole Arbitrator, and the matter was referred to Arbitration.

(2.) Before the Sole Arbitrator, the Judgment Debtor initially raised the issue of unilateral appointment of Sole Arbitrator, by filing an Application under Ss. 12, 16 r/w. ground no. 22 of the Fifth Schedule of the Arbitration and Conciliation Act, 1996 (for short 'Act, 1996'). The said Application filed by the Judgment Debtor was rejected by the Sole Arbitrator by its Order dtd. 23/7/2019.

(3.) Similarly, before the Sole Arbitrator, the Judgment Debtor had filed an Application u/s 13(2) of the Act, 1996, for termination of the mandate of the Sole Arbitrator. The said Application filed by the Judgment Debtor was also rejected by an Order dtd. 30/7/2019.