MONEYWISE FINANCIAL SERVICES PRIVATE LIMITED vs ANA INTERVENTIONAL PVT LTD THROUGH ITS DIRECTORS AND ORS

Judgment text excerpt

$-3 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 2107/2024 Date of Decision: 17.02.2025 IN THE MATTER OF: MONEYWISE FINANCIAL SERVICES PRIVATE LIMITED ..... PETITIONER Through: Ms.Mehvish Khan and Mr.Aman Choudhary, Advocates. Versus ANA INTERVENTIONAL PVT LTD THROUGH ITS DIRECTORS AND ORS .... RESPONDENTS Through: None. HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV JUDGEMENT PURUSHAINDRA KUMAR KAURAV, J. (ORAL) 1. The present petition has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 (A&C Act) by the petitioner, seeking appointment of an Arbitrator to adjudicate upon the disputes that have arisen between the parties under the Master Loan Agreement dated 15.04.2019. 2. The office report indicates that the service on all the respondents stands complete. Signature Not Verified Signature Not Verified Digitally Signed By:PRIYA Digitally Signed Signing Date:21.02.2025 By:PURUSHAINDRA 16:43:01 1 KUMAR KAURAV 3. Learned counsel for the petitioner submits that the petitioner is a Non- Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI) as an NBFC-ND, providing loan facilities to individual and corporate clients. 4. He submits that respondents No. 2 and 3 (who are the Directors of respondent No. 1 Company), availed a loan facility from the petitioner company vide Loan Agreement dated 15.04.2019. Respondents No. 2 and 3 stood as co-borrowers/co-applicants/guarantors in their individual capacities. Consequently, the respondents No. 1, 2, and 3 are jointly and severally liable for repayment of the outstanding loan amount. 5. He further submits that the loan amount of Rs. 15,00,000/- (Rupees Fifteen Lakhs Only) was disbursed to respondent No. 1 in terms of the Master Loan Agreement dated 15.04.2019, executed between the