M/S Everest Industries Limited v. Anj Buildcon Pvt Ltd

1-arbp-118-17.doc vai

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.118 OF 2017 WITH NOTICE OF MOTION NO.641 OF 2017 IN ARBITRATION PETITION NO.118 OF 2017 M/s.Everest Industries Ltd.

...Applicant

IN THE MATTER BETWEEN :

M/s.Everest Industries Ltd.

...Petitioner

V/s.

ANJ Buildcon Pvt. Ltd.

...Respondents

Mr.Anil Kher with Mr.Naresh Ratnani I/b M/s.Ashwin Ankhad & Associates for the Applicant / Petitioner.

Ms.Shruti Anurag I/b M.M. Legal Venture for the Respondents. CORAM : R.D. DHANUKA, J.

DATE : 6TH JUNE, 2019.

P.C. :- 1.

Learned counsel appearing for the parties states that they have settled the dispute amicably out side the Court. The respondents are ready to accept a sum of Rs.54,04,000/- in full and final settlement from the petitioner under the impugned award dated 10th October, 2016. The petitioner has already paid Rs.14,04,000/- to the respondents towards part payment of the amount arrived at between the parties and have handed over the demand draft of 1/2

1-arbp-118-17.doc Rs.40,00,000/- to the respondents towards the balance part of the settlement arrived at between the parties today in Court. 2.

Learned counsel for the respondents on instructions states that the statement made by the learned counsel for the petitioner is true and correct and the demand draft for the balance amount of Rs.40,00,000/- drawn in favour of his client in full and final settlement of the entire claim against the award dated 10th October, 2016 is accepted. The statement is accepted.

3.

The arbitration petition is accordingly disposed of on aforesaid terms. There shall be no order as to costs. 4.

In view of disposal of the arbitration petition, Notice of Motion No.641 of 2017 does not survive and is accordingly disposed of.

(R.D. DHANUKA, J.) 2/2