Ronchere Hospitality And Another v. India Infoline Finance Ltd.

16arbp329.doc ssp IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.329 of 2019 Ronchere Hospitality & Anr.

...Petitioners

vs.

India Infoline Finance Ltd.

...Respondent

Mr.S.K.Dubey for the petitioner Mr.Nikhil Mehta i/b KMC Legal Venture for respondent Mr.Iram Iqbal Memon- Representative of the respondent is present CORAM : DAMA SHESHADRI NAIDU, J.

DATE : NOVEMBER 21, 2019.

P. C. :

Digitally signed by ShubhaS.

Pathak Date:

2019.11.25 12:18:46 +0530 ShubhaS.

Pathak Parties settled the matter out of Court. Respondent has tendered a statement of outstanding dues dated 17th August 2019, addressed to the petitioner. It details the schedule of repayment. Now, the respondent's counsel informs the Court that the petitioners have paid the entire amount except Rs.50,000/- and interest. In answer, the petitioners' counsel wants one month's time for paying the balance Rs.50,000/- and interest. The respondent's counsel wants liberty to execute the Award for Rs.50,000/- and interest if the petitioners fail to pay.

I dispose of this Arbitration Petition granting one month's time from today to the petitioners to pay Rs.50,000/- and interest to the respondent. If the petitioners fail, the respondent is free to execute the Award.

Presence of the respondent's Officer is noted. [DAMA SHESHADRI NAIDU, J.] 1/1