YES BANK LTD Through its Authorised Signatory Ms Priya BhangeversusKrunal Himmatlal Shah

                                                  39.2-CARAP-396-2026.doc


Shabnoor
         IN THE HIGH COURT OF JUDICATURE AT BOMBAY
             ORDINARY ORIGINAL CIVIL JURISDICTION
                  IN ITS COMMERCIAL DIVISION

        COMM ARBITRATION APPLICATION NO. 396 OF 2026

Yes Bank Ltd Through Its
Authorised Signatory Ms Priya Bhange       … Applicant
           V/s.
Krunal Himmatlal Shah                      … Respondent

Mr. Omkar Shere i/b Vikrant Sabne Associates, for the
Applicant.
Appearance of Respondent not submitted.


                             CORAM    : AMIT BORKAR, J.

                             DATED    : SEPTEMBER 10, 2026
P.C.:
1.      The present Application has been filed under Section 11 of
the Arbitration and Conciliation Act, 1996 (“the Act”), seeking the
appointment of an Arbitrator for adjudication of the disputes and
differences stated to have arisen between the parties under an
Agreement dated 5 July 2024. The arbitration agreement between
the parties is contained in Clause 2 of the said Agreement, a copy
whereof is placed at page 39 of the Application. In the interest of
brevity, the said arbitration clause is not reproduced herein. It
would suffice to observe that the present Application falls within
the jurisdiction of this Court.

2.      The record indicates that the Applicant invoked the
arbitration agreement by issuing a notice dated 3 October 2025
2025. Despite service of the said notice, the Respondent has



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neither furnished any reply thereto nor filed any affidavit in reply
to the present Application.

3.    Upon perusal of the material placed on record, it is evident
that the arbitration agreement has been duly invoked by the
Applicant.

4.    This Court is satisfied that a valid and subsisting arbitration
agreement exists between the parties and that the said agreement
has been duly invoked. It would, therefore, be appropriate to refer
the disputes and differences arising out of or in connection with
the aforesaid Agreement dated 5 July 2024 to arbitration before a
Sole Arbitrator.

5.    In the aforesaid circumstances, the present Application under
Section 11 of the Act, is deserved to be disposed of in terms of the
following order:

             A)    Mr Jash Gandhi, is hereby appointed as the Sole
             Arbitrator to adjudicate upon the disputes and
             differences between the parties arising out of and in
             connection with the Agreement referred to above;

             Office Address:- 3rd Office, Brady House Building, 2nd
             Floor, Kala Ghoda, Mumbai – 400 001

             Email: [email protected]
             B)    A copy of this Order will be communicated to
             the Learned Sole Arbitrator by the Advocates for
             the Applicant within a period of one week from
             today. The Applicant shall provide the contact and




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communication particulars of the parties to the
Arbitral Tribunal along with a copy of this Order;

C)    The Learned Sole Arbitrator is requested to
forward the statutory Statement of Disclosure
under Section 11(8) read with Section 12(1) of the
Act to the Advocates for the Applicant so as to
enable them to file the same in the Registry of this
Court. The Registry of this Court shall retain the
said Statement on the file of this Applicant and a
copy of the same shall be furnished by the
Advocates for the Applicant to the Advocates for
the Respondent;

D)    The Learned Sole Arbitrator is requested to
forward the statutory Statement of Disclosure
under Section 11(8) read with Section 12(1) of the
Act to the parties within a period of two weeks
from receipt of a copy of this Order;

E)    The parties shall appear before the Learned
Sole Arbitrator on such date and at such place as
indicated, to obtain appropriate directions with
regard to conduct of the arbitration including
fixing a schedule for pleadings, examination of
witnesses, if any, schedule of hearings etc. At such
meeting, the parties shall provide a valid and
functional email address along with mobile and
landline numbers of the respective Advocates of
the    parties    to       the   Arbitral        Tribunal.



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           Communications to such email addresses shall
           constitute valid service of correspondence in
           connection with the arbitration;

           F)      All arbitral costs and fees of the Arbitral
           Tribunal shall be borne by the parties equally in
           the first instance, and shall be subject to any final
           Award that may be passed by the Tribunal in
           relation to costs.

6.    All issues on merits are expressly kept open to be agitated
before the arbitral tribunal appointed hereby.
7.    All actions required to be taken pursuant to this order shall
be taken upon receipt of a downloaded copy as available on this
Court’s website.

                                              (AMIT BORKAR, J.)




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