Aditya Birla Housing Finance Limited vs Axis Bank Ltd

Neeta Sawant CARAP-95-2026 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION APPLICATION NO. 95 OF 2026 Aditya Birla Housing Finance Limited ...Applicant V/s. Axis Bank Limited & Ors. ...Respondents ________________ Ms. Megha Gupta with Ms. Pranjali Khemnar and Ms. Lavanita Chityala i/b. Hedgehog & Fox LLP, for the Applicant. Mr. Cyrus Ardeshir, Senior Advocate with Mr. Rushil Mathur, Ms. Alessandra Shroff and Ms. Amrita Natarajan i.b. Mr. Mayur Shetty c/o. Kochhar & Co., for Respondent No.1. Mr. Mayank Tripathi, for Respondent Nos.2 to 5. ________________ CORAM: SANDEEP V. MARNE, J. RESERVED ON: 23 APRIL 2026 PRONOUNCED ON: 06 MAY 2026 JUDGMENT: 1) This is a Petition filed under Section 11 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) raising an issue of seminal importance about permissibility to conduct arbitration under Section 11 of the Securitisation and Reconstruction of Financial Assets and Page No.1 of 41 6 May 2026 Neeta Sawant CARAP-95-2026 Enforcement of Security Interest Act, 2002 (SARFAESI Act) between a secured creditor (Axis Bank) and an entity (Applicant), who is prevented from becoming a secured