Case Note & Summary
The petitioner, Vivriti Capital Limited, filed Arb.O.P.No.720 of 2025 under Section 11(6)(a) of the Arbitration and Conciliation Act, 1996, seeking appointment of a Sole Arbitrator to adjudicate disputes arising from a Master General Terms Agreement dated 03.08.2024 and a Personal Guarantee. Additionally, Arb Appln Nos. 739 and 740 of 2025 were filed under Section 9 of the Act seeking appointment of a Receiver to take possession of hypothecated assets and to obtain documents for asset identification. The respondents were Gensol Electric Vehicles Private Limited and Mr. Anmol Jaggi. The court heard the applications together. On 07.08.2025, an interim order was passed in the Section 9 applications. The court considered the submissions of the petitioner's counsel, Mr. Jose John, and the respondent's counsel, Mr. Gautam S. Raman. The court found that the arbitration clause was valid and that interim measures were necessary to preserve the assets. Consequently, the court appointed a Sole Arbitrator and allowed the Section 9 applications, appointing the Authorised Officer of the applicant as Receiver with police protection to take possession of the hypothecated assets.
Headnote
A) Arbitration Law - Appointment of Arbitrator - Section 11(6)(a) Arbitration and Conciliation Act, 1996 - Dispute arose from Master General Terms Agreement dated 03.08.2024 and Personal Guarantee - Court appointed a Sole Arbitrator to adjudicate disputes between the parties - Held that the arbitration clause was valid and the application was maintainable (Paras 3, 6). B) Arbitration Law - Interim Measures - Section 9 Arbitration and Conciliation Act, 1996 - Appointment of Receiver - Petitioner sought appointment of Receiver to take possession of hypothecated assets and obtain documents - Court allowed the applications and appointed the Authorised Officer of the applicant as Receiver with police protection - Held that interim protection was necessary to preserve the subject matter of the dispute (Paras 2, 4, 6).
Issue of Consideration
Whether a Sole Arbitrator should be appointed under Section 11(6)(a) of the Arbitration and Conciliation Act, 1996, and whether interim relief under Section 9 of the Act should be granted by appointing a Receiver to take possession of hypothecated assets.
Final Decision
The court appointed a Sole Arbitrator in terms of Clause 26 of the Master General Terms Agreement dated 03.08.2024 and Clause 13 of the Personal Guarantee. The court also allowed Arb Appln Nos. 739 and 740 of 2025, appointing the Authorised Officer of the applicant as Receiver to take possession of hypothecated assets with police protection, and directed the respondent and its Statutory Auditor to provide necessary documents.
Law Points
- Section 11(6)(a) of the Arbitration and Conciliation Act
- 1996
- Section 9 of the Arbitration and Conciliation Act
- Appointment of Receiver
- Interim measures
