Authority: High Court of Judicature at Bombay
Order Date: 30 September 2026
Case Overview
- Applicant: ICICI Home Finance Company Limited; Respondent: Kiran Brijendra Killawala.
- Dispute arises from Facility Agreements dated 14 August 2024 and 13 August 2024.
- Applicant invoked arbitration by issuing notices on 21 April 2025.
- Respondent objected, citing Clause 15.14(b)(i) which contemplates a mediation process.
- Court examined Clause 15.14(b)(i) and held that mediation is optional, not a mandatory pre‑condition to arbitration.
- Court concluded that a valid arbitration agreement exists and may be invoked under Section 11 of the Arbitration and Conciliation Act, 1996.
Final Outcome
- Ms. Deepali A Bagla, Advocate of this Court, is appointed as the Sole Arbitrator.
- Office address: Sukhia Building, 2nd Floor, Cawasji Patel Street, Fort, Mumbai 400001; Email: deepali.bagla@gmail.com; Mobile: 9920378770.
- Applicant to forward a copy of this order to the arbitrator within one week and provide parties’ contact details.
- Arbitrator to forward statutory Statement of Disclosure (Sec 11(8) & Sec 12(1)) to both parties within two weeks of receipt of the order.
- Parties shall appear before the arbitrator as directed for scheduling pleadings, witness examination, and hearings; email communication shall constitute valid service.
- All arbitration costs and fees shall be borne equally by the parties, subject to adjustment by the final award.
- The learned Sole Arbitrator shall be at liberty to adjudicate all claims, counter‑claims, and merits in accordance with law.
- All actions required pursuant to this order shall be taken upon receipt of a downloaded copy as available on the Court's website.
Topics: Arbitration, Banking Dispute