INDIABULLS HOUSING FINANCE LTD. vs BHAVANA R VIRA ALIAS BHAVANA RAJESH VIRA AND ORS.

Judgment text excerpt

$~1 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 30.04.2026 + ARB.P. 948/2024 & I.A. 32488/2024 (Ex. From filing original copies of annexures) INDIABULLS HOUSING FINANCE LTD. .....Petitioner Through: Mr. Rishabh Gupta, Advocate. versus BHAVANA R VIRA ALIAS BHAVANA RAJESH VIRA AND ORS. .....Respondents Through: None. CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % JUDGEMENT (ORAL) 1. The present Petition, under Section 11 of the Arbitration and Conciliation Act, 19961 seeks the appointment of a Sole Arbitrator for the purpose of adjudication of disputes inter se the parties arising out of the Loan Agreement dated 08.05.20182. 2. The Agreement contemplates adjudication of disputes, arising thereof, by way of Arbitration. The relevant stipulation is contained in Article 12 of the Agreement3, which reads as follows: “ARTICLE 12: ARBITRATION 12.1 This Loan Documents is/shall be governed by Indian laws and the courts at New Delhi shall have exclusive jurisdiction relating to any matter/issue under or pursuant to the Loan Documents. 1 The Act 2 Agreement 3 Arbitration clause Signature Not Verified Digitally Signed By:NEERU ARB.P. 948/2024 Signing Date:02.05.2026 Page 1 of 8 16:30:18 Notwithstanding anything to the contrary, if any dispute/disagreement/differences ("Dispute") arise between the Parties (including any Borrower(s)) during the subsistence of the Loan Documents and/or thereafter, in connection with, inter alia, the validity, interpretation, implementation and/or alleged breach of any provision of the Loan Documents, jurisdiction or existence/appointment of the arbitrator or of any nature whatsoever, then, the Dispute shall be referred to a sole arbitrator who shall be appointed by IHFL only. In any circumstance, the appointment of the sole ar