M/S MONEYWISE FINANCIAL SERVICES PVT LTD vs SH PRASHANT SARUP AND ANR

Judgment text excerpt

$~4 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 28.04.2026 + ARB.P. 100/2026 & I.A. 975/2026 (Ex. From filing original documents) M/S MONEYWISE FINANCIAL SERVICES PVT LTD .....Petitioner Through: Ms. Mehvish Khan and Mr. Aman Choudhary, Advs. versus SH PRASHANT SARUP AND ANR .....Respondents Through: CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % JUDGEMENT (ORAL) 1. The present Petition has been filed under Section 11 of the Arbitration and Conciliation Act, 19961 seeking the appointment of a Sole Arbitrator, in terms of Clause 10.1 of the Loan Agreement dated 02.11.20192. 2. The relevant Clause being Clause 10.1 of the said Agreement reads as under: “Any 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, rights and liabilities of the parties, or termination("Dispute.”) shall be referred to Sole arbitrator duly 1 Act 2 Agreement Signature Not Verified Digitally Signed By:NEERU ARB.P. 100/2026 Page 1 of 7 Signing Date:29.04.2026 15:49:14 appointed by the lender. The Language of the arbitration shall be English. The seat of the Arbitration shall be at New Delhi and the language of the proceedings shall be english. The Award shall be in writing and shall set out the reasons for the Arbitrator's decision. The costs and expenses of the Arbitration shall be borne equally by each Party, with each costs and expenses of the Arbitration shall be borne equally by each party, with each party paying for its own fee