M/S Jankar Steel Pvt Ltd vs TJSB Sahakari Bank Limited

Judgment text excerpt

CARBPL-35248-2024-J.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Digitally signed by SHRADDHA SHRADDHA KAMLESH KAMLESH TALEKAR IN ITS COMMERCIAL DIVISION TALEKAR Date: 2025.02.12 20:35:42 +0530 COMM. ARBITRATION PETITION (L.) NO. 35248 OF 2024 1. M/s. Jankar Steel Pvt. Ltd. 2. Vijayanagar Kartarchand Bhutani 3. Samir Vijaykumar Bhutani 4. Veena Vijaykumar Bhutani ...Petitioners Versus 1. TJSB Sahakari Bank Ltd. 2. Union of India 3. State of Maharashtra Through Commissioner for Co-operation & Registrar of Co-op Societies ...Respondents Mr. Manoj Harit a/w. Mr. Niket Harit i/b. Manoj Harit and Co. for Petitioners. Mr. Kishor P. Vig a/w. Mr. Monish K. Vig and Shrirang More, for Respondents. CORAM : SOMASEKHAR SUNDARESAN, J. Reserved on : January 15, 2025 Pronounced on : February 11, 2025 Page 1 of 19 February 11, 2025 Shraddha CARBPL-35248-2024-J.doc JUDGEMENT : Context and Background: 1. This Petition has been filed seeking to invoke the jurisdiction of this Court under Section 14 and Section 15 of the Arbitration and Conciliation Act, 1996 (“the Act”). 2. Essentially, the Petitioners request this Court to interfere mid-course, when arbitration proceedings are underway. The Petitioners filed an application before the Learned Arbitrator, calling upon him to recuse from the proceedings on the ground of his impartiality and independence being allegedly suspect. The Learned Arbitrator has refused to do so, by an order dated October 28, 2024 (“Impugned Order”), which is challenged in this Petition. 3. For this Petition to be considered, the Petitioners ought to make out a case that there is a de jure inability on the part of the Learned Arbitrator to perform his functions. Without that threshold being met, the Petition cannot be entertaine