The case involves a petition filed by Kirankumar Moolchand Jain seeking the appointment of an independent arbitrator under Section 11(6) of the Arbitration and Conciliation Act, 1996. The petitioner alleges that TransUnion CIBIL Ltd. (first respondent) placed incorrect information on its website regarding the petitioner's alleged default, based on information provided by The Cosmos Co-operative Bank Ltd. (second respondent), which had extended credit facilities to Dilip Chhabria Design Private Limited, for which the petitioner provided a personal guarantee. The petitioner claims the additional loan was not disbursed.
Kirankumar Moolchand Jain (the petitioner) provided a personal guarantee for a loan facility of Rs. 44 crore extended by The Cosmos Co-operative Bank Ltd. (second respondent) to Dilip Chhabria Design Private Limited. The petitioner alleges that this additional loan was never actually disbursed to the borrower. TransUnion CIBIL Ltd. (first respondent) allegedly placed incorrect information on its website regarding the petitioner's alleged default, based on information provided by the second respondent. The petitioner addressed all three respondents on 2021-07-19, requesting correction of the information and indicating the intention to constitute an arbitral tribunal under Section 18 of the Credit Information Companies (Regulation) Act, 2005. Proceedings have been
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The petitioner addressed all three…
The RBI did not appoint an arbitrator but…
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The case involves a petition filed by Kirankumar Moolchand Jain seeking the appointment of an independent arbitrator under Section 11(6) of the Arbitration and Conciliation Act, 1996. The petitioner alleges that TransUnion CIBIL Ltd. (first respondent) placed incorrect information on its website regarding the petitioner's alleged default, based on information provided by The Cosmos Co-operative Bank Ltd. (second respondent), which had extended credit facilities to Dilip Chhabria Design Private Limited, for which the petitioner provided a personal guarantee. The petitioner claims the additional loan was not disbursed.
Kirankumar Moolchand Jain (the petitioner) provided a personal guarantee for a loan facility of Rs. 44 crore extended by The Cosmos Co-operative Bank Ltd. (second respondent) to Dilip Chhabria Design Private Limited. The petitioner alleges that this additional loan was never actually disbursed to the borrower. TransUnion CIBIL Ltd. (first respondent) allegedly placed incorrect information on its website regarding the petitioner's alleged default, based on information provided by the second respondent. The petitioner addressed all three respondents on 2021-07-19, requesting correction of the information and indicating the intention to constitute an arbitral tribunal under Section 18 of the Credit Information Companies (Regulation) Act, 2005. Proceedings have been
…The petitioner addressed all three…
The RBI did not appoint an arbitrator but…
Sign in to view related legal provisions.