Iris Associates Pvt. Ltd & ORS. v. Religare Finvest Ltd

$~10 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P. (COMM) 26/2016 & I.A. No.1334/2016 IRIS ASSOCIATES PVT. LTD & ORS.

..... Petitioners Through Mr. Mohit Choudhary, Advocate versus RELIGARE FINVEST LTD ..... Respondent Through Mr. Gambhir Chauhan, Advocate.

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU % 15.05.2017

O R D E R

Learned counsel appearing for the respondent states that the account between the petitioner and the respondent is closed. It was the case of the petitioner that it had settled/was in the process of settling the amounts payable to the respondent and yet the respondent had proceeded with the arbitral proceedings. In view of the above and considering the statement that the petitioner has settled its account, the petition is allowed and the arbitral award is set aside. The pending application is also disposed off. VIBHU BAKHRU, J MAY 15, 2017 dr