SAMRUDDHI INDUSTRIES LTD THROUGH ITS AUTHORISED SIGNATORY MR RAMAKANT NARAYAN MALU vs KOTAK MAHINDRA BANK LIMITED

J-914-ARBAP-35-2025-16.06.25.doc Ashwini Vallakati IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION APPLICATION NO. 35 OF 2025 Samruddhi Industries Ltd. Through Its Authorised Signatory Mr Ramakant Narayan Malu …Applicant Versus Kotak Mahindra Bank Limited …Respondent Mr. Rahul Totala a/w Chaitanya Mendon, Mitesh Jain i/b Swapnil Lohiya for the Applicant. Mr. Nikhil Sakhardande a/w Paras Parekh, Abhineet Sharma & Kandarp Trivedi, i/b RHP Partners, for Respondent. CORAM : SOMASEKHAR SUNDARESAN, J. RESERVED ON : APRIL 15, 2025 PRONOUNCED ON : JUNE 18, 2025 JUDGEMENT: Context and Factual Background: 1. This Application has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 ( “the Act”), seeking appointment of an arbitrator in connection with disputes and differences that are said to have arisen between the parties under a Master Facility Agreement 2. At the heart of the disputes and differences between the parties is the manner in which the Respondent has charged penal rates of interest in the loan account of the Applicant. By an invocation notice dated May 13, 2024, the Applicant has stated that it discovered that the R