L AND T FINANCE LTD (FORMERLY KNOWN AS L AND T HOUSING FINANCE LTD) vs SANGEETA BHANSALI (BORROWER) AND ANR

KVM 1/11 COMEX 5277 OF 2022.doc f 1. Since the dispute arose between the parties under the said agreement, the claimant invoked Arbitration Clause, hence the lender – L & T Finance, appointment Sole Arbitrator, and the matter was referred to Arbitration. 2) Before the Sole Arbitrator, the Judgment Debtor initially raised the issue of unilateral appointment of Sole Arbitrator, by filing an Application under Sections 12, 16 r/w. ground no. 22 of the Fifth Schedule of the Arbitration and Conciliation Act, 1996 (for short “Act, 1996”). The said Application filed by the Judgment Debtor was KVM 3/11 COMEX 5277 OF 2022.doc rejected by the Sole Arbitrator by its Order dated 23 July, 2019. 3) Similarly, before the Sole Arbitrator, the Judgment Debtor had filed an Application u/s 13(2) of the Act, 1996, for termination of the mandate of the Sole Arbitrator. The said Application filed by the Judgment Debtor was also rejected by an Order dated 30 July, 2019. 4) The Sole Arbitrator proceeded further with the arbitration hearing and by his Order dated 7 August, 2019 passed an Award directing the Judgment Debtor to pay to the Claimant a sum of Rs.1,01,12,482/- and a sum of Rs.1,57,559/- in respec