Authority: Supreme Court of India
Order Date: 17 July 2026
Case Overview
- Parties: Veena Garg (petitioner, promoter group of Cupid Limited) vs Aditya Kumar Halwasiya (respondent, Managing Director of Cupid Limited).
- Dispute arises from Share Purchase Agreement dated 08‑09‑2023 concerning sale of shareholding in Cupid Limited for total consideration Rs 109.6 crore.
- Petitioner alleges respondent failed to comply with regulatory obligations under the agreement and did not intend to consummate the transaction.
- Petition filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 seeking appointment of a sole arbitrator as per Clause 8.3 of the agreement; notice of arbitration dated 10‑03‑2025 proposed Justice A.A. Sayed, which respondent objected to.
- Court heard counsel and examined records.
Final Outcome
- The Supreme Court allowed the arbitration petition and appointed Justice Shiavax Jal Vazifdar, former Chief Justice of the Punjab & Haryana High Court, as the sole arbitrator.
- Seat and venue of arbitration: Mumbai, India.
- The arbitrator is authorized to fix his remuneration/fees.
- The respondent may raise issues of arbitrability, maintainability, and jurisdiction before the arbitrator.
- All pending interlocutory applications, if any, are disposed of.
Topics: Arbitration, Share Purchase Dispute