K C AGGARWAL vs NATIONAL STOCK EXCHANGE OF INDIA LIMITED & ANR.

Judgment text excerpt

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: 24 July 2024 Pronounced on: 30 May 2025 + ARB.P. 1264/2023 K C AGGARWAL .....Petitioner Through: Petitioner in person versus NATIONAL STOCK EXCHANGE OF INDIA LIMITED & ANR .....Respondents Through: Mr. Jayant Mehta, Sr. Adv. with Mr. Akshay Bhatia, Ms. Ritu Anand, Ms. Shivany Berry, Ms. Ayushi Kumar and Mr. Jafar Alam, Advs. Md. Zaryab Jamal Rizvi, Ms. Firdouse Qutb Wani and Ms. Subia Naaz, Advs, for R2. CORAM: HON'BLE MR. JUSTICE C. HARI SHANKAR JUDGMENT % 30.05.2025 1. This is a petition under Section 11(6)1 of Arbitration and Conciliation Act, 19962, for reference of the disputes between the 1 11. Appointment of arbitrators- (6) Where, under an appointment procedure agreed upon by the parties,— (a) a party fails to act as required under that procedure; or (b) the parties, or the two appointed arbitrators, fail to reach an agreement expected of them under that procedure; or (c) a person, including an institution, fails to perform any function entrusted to him or it under that procedure, the appointment shall be made, on an application of the party, by the arbitral institution designated by the Supreme Court, in case of international commercial arbitration, or by the High Court, in case of arbitrations other than international commercial arbitration, as the case may be to take the necessary measure, unless the agreement on the appointment procedure provides other means for securing the appointment. 2 “the 1996 Act” hereinafter Signature Not Verified Signature Not Verified Digitally Signed By:AJIT Digitally Signed KUMAR ARB.P. 1264/2023 Page 1 of 25 By:CHANDRASHEKHARAN HARI SHANKAR Signing Date:30.05.2025 Signing Date:30.05.2025 15:31:39 15:30:55 parties to arbitration. Respondent 2, in this petition, is ICICI Se