Dharmendra Jain v. M/S. Galaxy Transmission Pvt. Ltd. Cin No. U31200pn2006ptc128935

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 130 OF 2015 Mr Dharmendra Jain

...Petitioner

vs M/s Galaxy Transmission Pvt. Ltd.

...Respondent.

.....

Mr Rishabh Shah i/b Puneet Gogad for the Petitioner Mr Sharan Jagtiani i/b Phoenix Legal for the Respondent. .....

CORAM : S.C. GUPTE, J.

SEPTEMBER 23, 2015 P.C. :

By consent of parties, the Petition is disposed of in the following terms:

(I) The Respondent shall pay Rs.6,13,112/- (Rs. Six Lacs Thirteen Thousand One Hundred and Twelve ) to the Petitioner within four weeks from today towards the salary purportedly payable to the Petitioner;

(II) The Respondent shall deposit Rs.4,53,129/- (Rs. Four Lacs Fifty Three Thousand One Hundred and Twenty Nine ) with this Court within four weeks from today towards (a) LTA, (b) Bonus, (c) Medical and (d) Expenses reimbursement, which are purportedly payable to the Petitioner by the Respondent. The amount shall be invested by the Prothonotary and Senior Master of this Court in a fixed deposit of a nationalized bank, initially for a period of three months and thereafter to be renewed or disbursed in accordance with the orders of the sole arbitrator appointed in accordance with the following clause;

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(III) Mr Rashmin Khandekar, Advocate, is appointed as a Sole Arbitrator to adjudicate the disputes between the Petitioner and Respondent with respect to all the claims arising out of or in connection with the Appointment Letter dated February 17, 2013 and Shareholders' Agreement dated March 2, 2013. The place of arbitration shall be Mumbai;

(IV) The Respondent proposes to withdraw Suit (Filing) No.200707 of 2015 filed by the Respondent against the Petitioner before the Civil Court, Senior Division, Sangli and bring the subject matter of the same before the sole arbitrator as part of the arbitration proceedings, to be treated as Counter-claim in the arbitration; (V) Company Petition No.130 of 2015 shall stand disposed of with the above orders;

(VI) This order shall be without prejudice to the rights and contentions of either of the parties, to be raised before the Sole Arbitrator. ( S.C.GUPTE J. ) Pg 2 of 3

CERTIFICATE Certified to be true and correct copy of the original signed Judgment/ Order.

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