High Court of Karnataka Adjudicates Multiple Petitions Under Section 11 of Arbitration Act for Appointment of Sole Arbitrator in Loan Agreements. Petitions Filed by Financial Services Company Against Borrowers Under Loan and Security Agreements Containing Clause 21 Arbitration Clause.

High Court: Karnataka High Court Bench: BENGALURU
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Case Note & Summary

The petitions were filed by Caterpillar Financial Services India Private Limited, a company incorporated under the Companies Act, 1956, against various respondents across India under Section 11(6-A) of the Arbitration and Conciliation Act, 1996. The prayers sought appointment of a sole arbitrator to resolve disputes and differences that had arisen between the parties in terms of Clause 21 of the respective Loan and Security Agreements. The agreements were executed between 2019 and 2020. The respondents in each petition were served. The matters were heard together by the High Court of Karnataka at Bengaluru before Justice Suraj Govindaraj. The judgment text provided does not include the court's reasoning, analysis, or final decision; only the cause titles and prayer portions are present. Therefore, the specific legal findings, arguments, and ratio decidendi are not available from the extracted text.

Issue of Consideration

KAHC010301522022_1

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Case Details

2022 LawText (KAR) (09) 66

Civil Misc. Petition No. 599 of 2022 c/w CMP Nos. 57/2022, 62/2022, 63/2022, 71/2022, 72/2022, 73/2022, 74/2022, 78/2022, 81/2022, 82/2022, 85/2022, 88/2022, 93/2022, 99/2022, 600/2022, 603/2022, 605/2022 and 608/2022

2022-09-30

SURAJ GOVINDARAJ

SRI ABHINAV R., ADVOCATE FOR SRI THAKUR RISHABHA RAJ, ADVOCATE

Caterpillar Financial Services India Private Limited

Radheshyam Singh & Ors.

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Nature of Litigation

Petition under Section 11(6-A) of the Arbitration and Conciliation Act, 1996 for appointment of a sole arbitrator to resolve disputes arising from loan and security agreements.

Remedy Sought

Appointment of a sole arbitrator as per Clause 21 of the Loan and Security Agreement.

Filing Reason

Disputes and differences between the petitioner (lender) and respondents (borrowers/guarantors) under the loan and security agreements.

Procedural History

The petitions were filed under Section 11(6-A) of the Arbitration and Conciliation Act, 1996 before the High Court of Karnataka. All respondents were served. The matters were heard together.

Acts & Sections

  • Arbitration and Conciliation Act, 1996: 11(6-A)
  • Companies Act, 1956:
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