INDIAN OIL CORPORATION LIMITED vs M/S ACE ENTERPRISES

ARB-689-2025 (O&M) 1 IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH 204 ARB-689-2025 (O&M) Date of Decision:01.05.2026 Indian Oil Corporation Limited ......Petitioner Versus M/S ACE Enterprises ......Respondents CORAM: HON'BLE MR. JUSTICE JASGURPREET SINGH PURI Present:- Mr. Ashish Kapoor, Advocate and Ms. Priya, Advocate, for the petitioner. Mr. Deepak Jain, Advocate and Ms. Sonia Sharma, Legal Aid Counsel (through V.C.) for the respondent. ***** JASGURPREET SINGH PURI J.(Oral) 1. The present is a petition filed under Section 11 (6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as ‘the Act’), seeking appointment of a sole arbitrator in the present case. 2. Learned counsel for the petitioner submitted that a valid satellite depot contractor agreement (Annexure P-1) was entered into between the erstwhile IBP Company and the respondent. He further submitted that the said IBP Company was taken over by the petitioner- Indian Oil Corporation Limited in the year 2007 alongwith all its assets and liabilities and in this manner, the petitioner-Indian Oil Corporation Limited has stepped into the shoes of the aforesaid IBP Company. SHWETA 2026.05.08 17:49 I atte