Supreme Court of India
Arth Micro Finance Private Ltd. v. Shivalik Small Finance Bank Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We, hence, set aside the impugned order of the High Court finding the very initiation of arbitration to be non est in law. The interim orders passed by the Arbitral Tribunal at Annexures P5, P6 and P7 shall stand set aside.
Judgment, 6
In brief
Disputes arose between the appellants and the respondent bank under an agreement containing an arbitration clause. The respondent issued a notice on 02.05.2024 and had an Arbitral Tribunal appointed, claiming it was done on consent, though nothing on record showed that the appellants' consent had been obtained. When the Tribunal communicated with the appellants, they objected to its appointment, specifically alleging that the appointed Tribunal had close links with the respondent.…
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