2024 (7) TMI 1604 - HC - Indian Laws

Appointment of arbitrator to decide the disputes between the parties and the present petition be treated as an application under Section 17 of the Arbitration and Conciliation Act 1996 - HELD THAT - With the consent of learned counsel for the parties the petition is disposed of by appointing Hon ble Mr. Justice S. Ravindra Bhat former Judge Supreme Court of India as the learned arbitrator to adjudicate the disputes between the parties under a Share Purchase Agreement. The present petition will be treated as an application under Section 17 of the Act before the learned arbitrator. The respondent may file a reply to the application under Section 17 of the Act within ten days from today or as soon as the learned arbitrator enters upon the reference whichever is later. Petition disposed off.

Summary

**Summary of the Judgement:**In the matter before the Delhi High Court, presided over by Hon'ble Mr. Justice Prateek Jalan, the parties involved agreed to resolve their disputes through arbitration. The court appointed Hon'ble Mr. Justice S. Ravindra Bhat, a former Judge of the Supreme Court of India, as the arbitrator. This appointment pertains to disputes arising under a Share Purchase Agreement dated April 16, 2024.The arbitration will be conducted under the auspices of the Delhi International Arbitration Centre (DIAC) and will adhere to DIAC's rules, including those concerning the arbitrator's remuneration. The arbitrator is required to provide a declaration under Section 12 of the Arbitration and Conciliation Act, 1996, before commencing proceedings.The current petition is to be treated as an application under Section 17 of the Act before the arbitrator. The respondent is allowed to file a reply to the application within ten days or upon the arbitrator's commencement of the reference, whichever is later. The parties may also request the arbitrator to expedite the hearing, particularly for interim relief. The petition is disposed of in these terms.