MASTER DRILLING INDIA PRIVATE LIMITED vs SAREL DRILL AND ENGINEERING EQUIPMENT INDIA PRIVATE LIMITED

Judgment text excerpt

CARBP-777-2024 @ IA-3682-2024 .doc PURTI IN THE HIGH COURT OF JUDICATURE AT BOMBAY PRASAD PARAB ORDINARY ORIGINAL CIVIL JURISDICTION Digitally signed by PURTI PRASAD PARAB Date: 2025.11.12 15:11:15 +0530 COMMERCIAL ARBITRATION PETITION NO. 777 OF 2024 ALONGWITH INTERIM APPLICATION NO. 3682 OF 2024 Master Drilling India Private Limited …Petitioner Versus Sarel Drill & Engineering Equipment India Private Limited …Respondent Mr. Sharan Jagtiani, Senior Advocate a/w Ms. Anirudha Mukherjee, Mr. Aviral Sahai, Ms. Shreya Som, Mr. Sushil Jethmalani, Ms. Soumya Dasgupta, Mr. Shivam Tiwari, Ms. Aanya Anvesha i/b Cyril Amarchand Mangaldas for Petitioner. Mr. Rashmin Khandekar a/w Mr. Chirag M. Bhatia, and Mr.Rakesh K. Taneja i/b Mr. A.R. Shaikh for Respondent. CORAM : SOMASEKHAR SUNDARESAN, J. DATE : NOVEMBER 12, 2025 JUDGEMENT : Context and Factual Background: 1. This Petition is purported to have been filed under Section 34 of the Arbitration and Conciliation Act, 1996 (“ the Act”). The Petition challenges an order dated May 10, 2024 ( “Impugned Order”) passed by the Learned Arbitral Tribunal in disposal of an Application filed by the Petitioner invoking Section 31(6) read with Section 32(2)(c) of the Act, Page 1 of 33 November 12, 2025 Purti Parab CARBP-777-2024 @ IA-3682-2024 .doc essentially repelling the contentions of the Petitioner that the very conduct of the arbitration proceedings is untenable. 2. The arbitral proceedings relate to a Business Transfer Agreement dated September 3, 2018 (“Agreement”) executed between the Petitioner, Master Drilling India Private Limited (“Master Drilling”) and the Respondent, Sarel Drill & Engineering Equipment India Private Limited (“Sarel Drill”). In terms of the Agreement, the business and assets of Sarel Drill were sold to Master Dril