MONEYWISE FINANCIAL SERVICES PVT LTD vs BALAJI DEPARTMENTAL STORE THROUGH ITS PROPRIETOR SH PRADEEP KUMAR SAINI ALIAS PRADEEP SAINI AND ANR

Judgment text excerpt

$~O-29 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 756/2025 Date of Decision: 18.11.2025 IN THE MATTER OF: MONEYWISE FINANCIAL SERVICES PVT LTD.....Petitioner Through: Ms. Mehvish Khan and Mr. Aman Choudhary, Advs. versus BALAJI DEPARTMENTAL STORE THROUGH ITS PROPRIETOR SH PRADEEP KUMAR SAINI ALIAS PRADEEP SAINI AND ANR .....Respondents Through: Mr. Harshit Upmanyu, Adv. CORAM: HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV JUDGEMENT PURUSHAINDRA KUMAR KAURAV, J. (ORAL) This petition filed under Section 11 of the Arbitration and Conciliation Act, 1996 (hereinafter “said Act”) has arisen out of a Master Loan Agreement (hereinafter “MLA”) dated 17.06.2021. The petitioner claims to have advanced a loan of Rs. 25,27,878/- to the respondents. The loan amount was disbursed to respondent No.1 where respondent No.2 stood as a co-borrower to the said loan facility. 2. There was, thereafter, a default in the repayment of the installments and consequently, the petitioner issued to the respondents a loan Signature Not Verified Signature Not Verified Signed By:PRIYA Signed Signing Date:21.11.2025 By:PURUSHAINDRA 17:52:23 KUMAR KAURAV recall/termination notice dated 27.12.2021. 3. A dispute has arisen which is capable of being adjudicated by way of arbitration as per Clause 8.2 of the MLA. The said clause reads as under: ―Anv disputes, differences, controversies and questions directly or indirectly arising at any time hereafter between the Parties or their respective representatives or assigns, arising out of or in connection with this Agreement (or the subject matter of the Agreement), including, without limitation any question regarding its existence, validity, interpretation, construction, performance, enforcement, 14 rights and liabilities of the parties, or termination("Di