Delhi High Court appoints an arbitrator for banks disputing priority over mortgaged properties, without the other bank's consent

The Delhi High Court held that two banks competing over the priority of their charge on the same mortgaged properties can be sent to a sole arbitrator under Section 11 of the SARFAESI Act even when the other bank has not consented. The Debts Recovery Tribunal had earlier declined to hear the dispute and pointed the banks to this arbitration route.

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