Sh. Om Prakash Harjai & ORS v. M/S. Religare Finvest Limited

$~OS-35 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P. (COMM) 422/2016 SH. OM PRAKASH HARJAI & ORS ..... Petitioner Through Mr.Sandeep Sharma and Mr.Sarthak Manan, Advs.

versus M/S. RELIGARE FINVEST LIMITED..... Respondent Through Mr.Ajay Uppal, & Mr.Alok K.Srivastav, Advs

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 26.05.2017 1.

This petition is filed under section 34 of the Arbitration and Conciliation Act, 1996 seeking to set aside the Award dated 8.2.2016 passed by the Sole Arbitrator.

2.

Fortunately by the intervention of the Delhi Mediation Centre, Patiala House Courts, the parties have entered into a Settlement Agreement dated 17.2.2017. The Settlement Agreement has not been filed in the present petition but has been filed in OMP (ENF.) (COMM.) 57/2016 alongwith IA No.4758/2017. Learned counsel for the respondent will file a copy of the Settlement Agreement dated 17.2.2017 in this petition as well.

3.

As per the Settlement, the respondent No.2/M/s.Soloman Industries Ltd. has undertaken to pay specified amounts in a phased manner. Accordingly, the Award passed by the learned Arbitrator dated 8.2.2016 is modified by the Settlement dated 17.2.2017 by consent of the parties. Both the parties undertake to abide by the terms and conditions of the Settlement Agreement. 4.

Petition stands disposed of. All pending applications, if any, also stand disposed of.

JAYANT NATH, J MAY 26, 2017/N