NARESH KANAYALAL RAJWANI Vs. KOTAK MAHINDRA BANK LTD.
LAWS(BOM)-2021-3-132
HIGH COURT OF BOMBAY
Decided on
March 09,2021
Naresh Kanayalal Rajwani
Appellant
VERSUS
KOTAK MAHINDRA BANK LTD.
Respondents
Referred Judgements :-
HOME OFFICE VS. DORSET YACHT CO. LTD. [REFERRED TO]BRITISH RAILWAYS BOARD VS. HERRINGTON [REFERRED TO]
KIRAN SINGH VS. CHAMAN PASWAN [REFERRED TO]
HIRA LALPATNI VS. KALI NATH [REFERRED TO]
K T M T M ABDUL KAYOOM VS. COMMISSIONER OF INCOME TAX MADRAS [REFERRED TO]
VASUDEV DHANJIBHAI MODI VS. RAJABHAI ABDUL REHMAN [REFERRED TO]
AMBICA QUARRY WORKS AMBALAL MANIBHAI PATEL VS. STATE OF GUJARAT [REFERRED TO]
BHAVNAGAR UNIVERSITY VS. PALITANA SUGAR MILL PRIVATE LIMITED [REFERRED TO]
BHARAT PETROLEUM CORPORATION LIMITED VS. N R VAIRAMANI [REFERRED TO]
HARSHAD CHIMAN LAL MODI VS. D L F UNIVERSAL LTD [REFERRED TO]
HASHAM ABBAS SAYYAD VS. USMAN ABBAS SAYYAD [REFERRED TO]
MANTOO SARKAR VS. ORIENTAL INSURANCE CO LTD [REFERRED TO]
SNEH LATA GOEL VS. PUSHPLATA & ORS [REFERRED TO]
BGS SGS SOMA JV VS. NHPC LTD [REFERRED TO]
JUDGEMENT
B.P.Colabawalla, J. -
(1.)The present Arbitration Petition is filed by the petitioners under Section 34 of the Arbitration and Conciliation Act, 1996 (for short the " Arbitration Act ") challenging the Award dated 4th August, 2019 passed by the Sole Arbitrator.
(2.)At the very outset, respondent No.1 has taken a preliminary objection that this Court does not have jurisdiction to entertain the present petition filed under Section 34 of the Arbitration Act. Respondent No.1 has urged that before the petition be entertained on merits, the issue of jurisdiction of this Court be decided first.
(3.)In order to decide the preliminary issue of jurisdiction, it would be necessary to set out some brief facts. The arbitration clause in the loan agreement executed between the parties reads as under:-
"In the event of any dispute or differences arising under this Agreement including any dispute as to any amount outgoing, the real meaning or purport thereof ("Dispute"), such Dispute shall be finally resolved by arbitration. Such arbitration shall be conducted in accordance with the provisions of the Indian Arbitration and Conciliation Act, 1996 or any amendment or re-enactment thereof by a single arbitrator to be appointed by the Lender. The venue of arbitration shall be at New Delhi and the arbitration shall be conducted in English language".
(Emphasis Supplied.)
(2.)At the very outset, respondent No.1 has taken a preliminary objection that this Court does not have jurisdiction to entertain the present petition filed under Section 34 of the Arbitration Act. Respondent No.1 has urged that before the petition be entertained on merits, the issue of jurisdiction of this Court be decided first.
(3.)In order to decide the preliminary issue of jurisdiction, it would be necessary to set out some brief facts. The arbitration clause in the loan agreement executed between the parties reads as under:-
"In the event of any dispute or differences arising under this Agreement including any dispute as to any amount outgoing, the real meaning or purport thereof ("Dispute"), such Dispute shall be finally resolved by arbitration. Such arbitration shall be conducted in accordance with the provisions of the Indian Arbitration and Conciliation Act, 1996 or any amendment or re-enactment thereof by a single arbitrator to be appointed by the Lender. The venue of arbitration shall be at New Delhi and the arbitration shall be conducted in English language".
(Emphasis Supplied.)
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