Moneywise Financial Services Pvt Ltd vs Up Money Limited And Ors

Court
Delhi High Court

$~17
* IN THE HIGH COURT OF DELHI AT NEW DELHI
# CNR No. DLHC010421452026
+ ARB.P. 1610/2026
MONEYWISE FINANCIAL SERVICES PVT LTD
.....Petitioner
Through: Mr. Pankaj Kumar, Advocate.

versus

UP MONEY LIMITED AND ORS .....Respondents
Through:

CORAM:
HON'BLE MR. JUSTICE OM PRAKASH SHUKLA
JUDGMENT(ORAL)
% 29.10.2026
1. On the last date of hearing, notice was issued to the
Respondents and the Respondents were directed to file reply to the
present petition. However, the same has not been filed.

2. On a perusal of the affidavit of service filed, it appears that the
notice has been duly served on the Respondents. Despite the
opportunity so granted, none appears on behalf of the Respondents
and the Respondents have failed to file the reply as well.

3. In view thereof and considering that the Respondents have
chosen not to participate in the present proceedings despite sufficient
service, this Court finds no impediment in proceeding to consider the
appointment of a Sole Arbitrator.

Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
15:08:17
ARB.P. 1610/2026 Page 1 of 10

4. The tracking details placed on record establishes that the
Respondents have been duly served. The proof of service is reflected
from the tracking details which are reproduced herein below:


Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
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ARB.P. 1610/2026 Page 2 of 10

Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
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Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
15:08:17
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Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
15:08:17
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Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
15:08:17
ARB.P. 1610/2026 Page 6 of 10

Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
15:08:17
ARB.P. 1610/2026 Page 7 of 10

5. The loan agreement contains an arbitration Clause being Clause
9.2 which reads as follows:

“ 9.2. Arbitration: 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 this Agreement), including, without limitation, any
question regarding its existence, validity, interpretation,
construction, performance, enforcement, rights and liabilities of
the Parties, or termination ("Dispute") thereof shall be finally
settled by arbitration in accordance with the Arbitration and
Conciliation Act, 1996, as amended ("Arbitration Act"). The
Dispute shall be referred to a sole arbitrator duly appointed by the
Parties with mutual consent failing which the sole arbitrator shall
be appointed in accordance with the Arbitration Act. The language
of the arbitration shall be English. The seat of the arbitration shall
be at Delhi and the language of proceedings shall be English. The
award rendered 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 Party paying for
its own fees and costs including attorney fees, except as may be
determined by the arbitration tribunal. Any award by the
arbitration tribunal shall be final and binding.”

6. It is well settled that, while exercising jurisdiction under Section
Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
15:08:17
ARB.P. 1610/2026 Page 8 of 10

1
11 of the Arbitration and Conciliation Act,1996 , the scope of enquiry
is confined to examining the prima facie existence of an arbitration
2
agreement .

7. In the present case, this Court is of the view that a valid and
binding agreement exists between the parties.

8. In the aforesaid circumstances, this Court finds no impediment
in appointing a Sole Arbitrator.

9. Accordingly, Ms. Neeru Vaid, Advocate-On-Record, (Mob. No.
9582619834) is appointed as a learned Sole Arbitrator to adjudicate
the disputes arisen between the parties. The learned Sole Arbitrator
shall enter upon the reference within two weeks from today.

10. The learned Sole Arbitrator will proceed to the arbitration
proceedings subject to furnishing requisite disclosures as required
under Section 12(2) of the Act within two weeks of entering reference.

11. The arbitration shall be carried under the rules and aegis of
Delhi International Arbitration Centre (“DIAC”). The learned
Arbitrator shall be entitled to fees as per the Schedule of Fees
maintained by the DIAC.


12. It shall be open to the parties to raise all pleas, including
objection as to arbitrability and jurisdiction, before the learned Sole

1
“the Act” hereinafter
2
SBI General Insurance Co. Ltd. v. Krish Spinning 2024 SCC OnLine SC 1754
Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
15:08:17
ARB.P. 1610/2026 Page 9 of 10

Arbitrator who shall decide the same in accordance with law.

13. It is clarified that the observations made herein are only for the
purpose of deciding the present petition under Section 11 of the Act.
The learned Sole Arbitrator shall adjudicate the disputes
independently and on their own merits, uninfluenced by any
observations contained in the present order.

14. The Registry is directed to send a receipt of this order to Ms.
Neeru Vaid, learned Arbitrator through all permissible modes
including email.

15. Accordingly, the present petition is disposed of in the above
terms.


OM PRAKASH SHUKLA, J
OCTOBER 29, 2026/pa






Signature Not Verified
Signed By:PRAGYA
ARORA
Signing Date:31.10.2026
15:08:17
ARB.P. 1610/2026 Page 10 of 10