AXIS FINANCE LIMITED vs PANKAJ HIRALAL KHINWASARA

Judgment text excerpt

$~1 & 2 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of Decision: 3rd September, 2025 1. + ARB.P. 301/2025 AXIS FINANCE LIMITED .....Petitioner Through: Mr. Vatsal Sharma, Advocate. versus PANKAJ HIRALAL KHINWASARA .....Respondent Through: Mr. B.S. Bagga, Mr. Pratik Gaurava and Mr. Shikhar Baxi, Advocates. 2. + ARB.P. 311/2025 AXIS FINANCE LIMITED .....Petitioner Through: Mr. Vatsal Sharma, Advocate versus SOMNATH RAMCHANDRA THOPTE .....Respondent Through: Mr. B S Bagga, Mr. Pratik Gaurav & Mr. Shikhar Baxi, Advocates CORAM: HON'BLE MR. JUSTICE AMIT BANSAL AMIT BANSAL, J. (Oral) 1. These petitions have been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter ‘Act’) to appoint a Sole Arbitrator, to adjudicate the disputes arising out of Loan Agreements executed between the parties. The arbitration clause is contained in Clause 14 of the said agreements. Signature Not Verified Digitally Signed ARB.P. 301/2025 & connected matter Page 1 of 6 By:AANCHAL TAGGAR Signing Date:10.09.2025 12:55:11 2. Both the petitions are identical and are being disposed of by a common judgment. For the sake of brevity, facts of ARB.P. 301/2025 are reproduced below. 3. As per the petitioner, the respondent applied for and was sanctioned a loan of Rs. 8,08,693/- by the petitioner pursuant to execution of Loan Agreement dated 31st May, 2021 (hereinafter ‘Agreement’). However, it is stated that the respondent has defaulted in repayment of the loan amount. The said Agreement contains an arbitration clause, i.e. Clause 14, which is set out below:- “14. All disputes, differences and/or claim or questions arising out of these presents or in any way touching or concerning the same or as to constructions, meaning or effect thereof, or as to the right, obligations and li