2024 (11) TMI 465

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....ruary 2010 to adjudicate upon the disputes between the petitioner and the respondents. 2. The petitioner's case inter alia is that it has purchased the assets of Cryobank International, Inc Cryobank USA on 8 June 2010 at a public auction in pursuance of a decree dated 5 May 2010 passed by the Circuit Court of Florida, USA. Following which, a certificate of title was issued in its favor certifying purchase of all assets, tangible and intangible, of Cryobank USA by it. On basis thereof, the petitioner claims to have stepped into the shoes of Cryobank USA. 3. According to the petitioner, the dispute between the petitioner and the respondents stems from Exclusive and Perpetual License Agreement License Agreement and Share Subscription and....

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....ssignable, and the respondents have not accepted the petitioner as the assignee. There is, therefore, no privity of contract. Hence, the petition is liable to be dismissed. 6. We have heard learned counsel for the parties. 7. At the stage of considering an application for appointment of an arbitrator the Court is required to examine whether there exists an arbitration agreement between the parties. The existence of an arbitration agreement is not an issue. The issue is that it is not between the petitioner and the respondent company but between Cryobank USA and the respondents. According to the respondents the petitioner has only bought assets of Cryobank USA but, in absence of respondents' consent, has not stepped into the shoes of C....