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

CARBPL-35248-2024-J.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION 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 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