Full Text
$~14&15
* IN THE HIGH COURT OF DEUHI AT NEW DELHI
+ ARB.P. 536/2015
JUDGMENT
14 RDB INSURANCE BROKING SERVICES PVT. LTD Petitioner Through: Mr. Abhinav S. Raghuvanshi and Mr. Prateek Tiwari, Advocates.
VERSUS
P.N.R SYSTEMS PVT. LTD &ANR Respondents Through: Mr. Sudhir Naagar and Mr. Vijay Kasana, Advocates. + ARB.P. 542/2015 15 PNR SYSTEMS PVT.LTD Petitioner Through: Mr. Sudhir Naagar and Mr. Vijay Kasana, Advocates.
VERSUS
RDB INSURANCE BROKING SERVICES PVT LTD. &ANR. Respondents Through: Mr. Abhinav S. Raghuvanshi and Mr. Prateek Tiwari, Advocates. t CORAM: HON'BLE MR.
JUSTICE J.R. MIDHA ORDER % 12.10.2015
1. Both the parties are seeking appointment of an arbitrator under Section 11 ofthe Arbitration and Conciliation Act, 1996.
2. There is a valid agreement between the parties contained in lease agreement dated 15^^ February, 2014. Both the parties invoked the arbitration agreement but could not agree on the name ofthe arbitrator.
3. Learned counsel for the petitioner in ARB.P.536/2015 submits that 2015:DHC:10813 the petitioner isseeking refund ofsecurity deposit ofRs.2,26,80,000/- along with interest accrued thereon from the respondent, whereas the petitioner in ARB.P.542/2015 is seeking rent of Rs.10,64,98,654/- for the remaining lock-inrperiod along,with interest accrued thereon. Learned counsels for the parties submit that arbitration fees be calculated on the gross value of the claims ofboth the arbitrationpetitions.
4. Both the petitions are allowed and Justice Mukul Mudgal (Retd.) is appointed as the sole arbitrator to adjudicate the disputes between the parties including their claims and counter claims.
5. The arbitration proceedings shall be conducted under the aegis of Delhi International Arbitration Centre. The fees of the arbitrator shall be in terms of the Schedule of the Delhi International Arbitration Centre (DAC) (Administrative Cost Arbitrator's fees) Rules. The fees of the learned Arbitrator shall be computed on the gross value of both the claims of the parties in both the petitions.
6. Copy of this order be given dasti to counsels for the parties under the signatures of the Court Master. A copy of this order be delivered to the learned arbitrator aswell asAdditional Coordinator, DAC forthwith. J.R. MIDHA, J. OCTOBER 12,2015 ak