Full Judgment Text
$~28
* IN THE HIGH COURT OF DELHI AT NEW DELHI
Date of Decision : 08.05.2026
+ ARB.P. 392/2026 & I.A. 5801/2026 (For Delay 02 days in re-
filing the petition)
THE VAISH COOPERATIVE ADARSH BANK LIMITED
.....Petitioner
Through: Mr. Ravi Data, Mr. Rajesh
Sharma and Mr. Karan Mehta,
Advocates.
versus
UNION BANK OF INDIA & ORS. .....Respondents
Through: Mr. Samarendra Kumar, Mr.
Madhurendra Kumar, Mr.
Nitin, Ms. Nisha, Ms. Soumya
and Ms. Kajal, Advocates for
Respondent No. 1.
CORAM:
HON'BLE MR. JUSTICE HARISH VAIDYANATHAN
SHANKAR
% JUDGEMENT (ORAL)
1.
The present Petition has been filed under Section 11(6) of the
1
Arbitration and Conciliation Act, 1996 , read with Section 11 of the
Securitisation and Reconstruction of Financial Assets and
2
Enforcement of Security Interest, 2002 , seeking the appointment of
a Sole Arbitrator to adjudicate the disputes that are stated to have
arisen inter se the parties.
2. In view of the fact that two financial institutions namely the
1
A&C Act
2
SARFAESI Act
Signature Not Verified
Digitally Signed
By:HARVINDER KAUR
BHATIA
Signing Date:11.05.2026
20:14:32
ARB.P. 392/2026 Page 1 of 3
Petitioner and the Respondents herein had rival claims over the same
property, the Hon’ble Supreme Court in the Judgment of Bank of
India v. Sri Nangli Rice Mills (P) Ltd. [(2025) 9 SCC 225] has held
that such inter se disputes between financial institutions/secured
creditors should be resolved by resort to the provisions of Section 11
of the SARFAESI Act read with the A&C Act.
3. The learned counsel appearing for the parties, jointly and on
instructions, submit that they are ad idem that the present dispute be
referred to arbitration.
4. Material on record indicates that the valuation of the present
dispute is stated to be approximately Rs. 50 lakhs.
5. Learned counsel appearing for the parties submits that the
matter may be referred to Arbitration by a Sole Arbitrator under the
aegis of the Delhi International Arbitration Centre [“ DIAC ”].
6. Accordingly, this Court appoints Mr. Alakh Kumar, Advocate
(Mobile No. 9811063763) , to adjudicate the disputes as between the
parties.
7. The Arbitration would take place under the aegis of the DIAC
and would abide by its rules and regulations. The learned Arbitrator
shall be entitled to fees as per the Schedule of Fees maintained by the
DIAC.
8. The learned Arbitrator is also requested to file the requisite
disclosure under Section 12 (2) of the Act within a week of entering of
reference.
9. The Registry is directed to send a receipt of this order to the
learned Arbitrator through all permissible modes, including through e-
mail.
Signature Not Verified
Digitally Signed
By:HARVINDER KAUR
BHATIA
Signing Date:11.05.2026
20:14:32
ARB.P. 392/2026 Page 2 of 3
10. All rights and contentions of the parties in relation to the
claims/counter-claims are kept open, to be decided by the learned
Arbitrator on their merits, in accordance with law.
11. Needless to say, nothing in this order shall be construed as an
expression of opinion of this Court on the merits of the controversy
between the parties.
12. Accordingly, the present Petition, along with pending
application(s), if any, stands disposed of in the above terms.
HARISH VAIDYANATHAN SHANKAR, J.
MAY 08, 2026/nd/va
Signature Not Verified
Digitally Signed
By:HARVINDER KAUR
BHATIA
Signing Date:11.05.2026
20:14:32
ARB.P. 392/2026 Page 3 of 3