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The Allahabad High Court has held that the compliance of Section 21 of the Arbitration and Conciliation Act, 1996 (“Arbitration Act”) is mandatory. Thus, arbitral proceedings would only commence once.

Uttar pradeshJustice manju rani chauhanZesshana khanSamyam industries petitioner borrowerBank respondentMs samyam industriesV samyam industries orsShivalik small finance bank ltdHigh courtConciliation actShivalik small finance bankNotice invokingSamyam industriesNotice invoking arbitrationArbitration actSole arbitrator