Ascend Capital Services Pvt. Ltd. & Ors vs Laxmi Foils Pvt. Ltd

ik-24861514 Delhi High Court 17 February 2026 • 17 min read

Judges (1)

Counsel (8)

Akhil Ranganathan Counsel Petitioner Ashish Verma Counsel Petitioner Jayant Mehta Counsel Petitioner Lisa Sankrit Counsel Respondent Malvika Trivedi Counsel Respondent Pallav Arora Counsel Petitioner Saksham Thareja Counsel Petitioner Sanyam Khetarpal Counsel Respondent

Parties (2)

Ascend Capital Services Pvt. Ltd. Petitioner Laxmi Foils Pvt. Ltd. Respondent

Case Significance

Ascend Capital Services Pvt. Ltd. & Ors vs Laxmi Foils Pvt. Ltd is a Delhi High Court decision dated February 17, 2026 (citation: ik-24861514). Ascend Capital Services and connected petitioners filed a Section 11(6) petition seeking appointment of a sole arbitrator for disputes arising from a Facilities Agreement dated 21.02.2022 for credit facilities and unsecured loans granted to Laxmi Foils, an aluminium manufacturing company. The Court appointed Mr. Shyam Sharma as sole arbitrator, directing the parties to share fees equally and keeping all rights and contentions open for determination on merits. The case was heard by Justice Harish Vaidyanathan Shankar.

Summary

Ascend Capital Services and connected petitioners filed a Section 11(6) petition seeking appointment of a sole arbitrator for disputes arising from a Facilities Agreement dated 21.02.2022 for credit facilities and unsecured loans granted to Laxmi Foils, an aluminium manufacturing company. The Court appointed Mr. Shyam Sharma as sole arbitrator, directing the parties to share fees equally and keeping all rights and contentions open for determination on merits.

What was the outcome of Ascend Capital Services Pvt. Ltd. & Ors vs Laxmi Foils Pvt. Ltd?

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-24861514)