Gujarat High Court quashes arbitral awards in three cases as arbitrator was appointed unilaterally

The petitioners had availed financial assistance from the Non Banking Financial Companies and could not repay the outstanding dues, leading to initiation of the arbitration.
Gujarat High Court
Gujarat High Court

The Gujarat High Court recently invoked its jurisdiction under Articles 226 and 227 of the Constitution to set aside arbitral awards in three cases in which the sole arbitrator was appointed unilaterally by non banking financial companies (NBFCs) [M/S Rich and Royal v. Authorised Officer, Hinduja Leyland Finance Ltd].

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