M/S. Amartara Pvt.Ltd. v. M/S. Clean Coats Pvt.Ltd.

sat 1/1 arbp 1559-2015.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 1559 OF 2015 M/s.Amartara Pvt.Ltd.

...Petitioner

vs M/s.Clean Coats Pvt.Ltd.

...Respondent

Mr.Vishal Talsania with Sumedha Sawant I/b. Nainesh N. Amin for Petitioner.

Mr.Ashwin Ankhad I/b. Ashwin Ankhad & Associates for Respondent. CORAM : S.C.GUPTE, J.

DATE : 5 FEBRUARY 2019 P.C. :

After the matter is heard at some length, it is agreed between the learned Counsel for the parties that the impugned award dated 27 October 2014 can be set aside by consent and the reference be remanded to Micro & Small Enterprises Facilitation Council for a fresh hearing in accordance with law.

Accordingly, the award is set aside and the reference is remanded to the Council for a fresh hearing in accordance with law. All rights and contentions of the parties on merits are kept open. In the meanwhile, pending the reference and passing of award by the Council or its panel of arbitrators, the amount deposited by the Petitioner in this court towards security shall remain invested. It is made clear that in the event of there being any award, no further interest will be payable by the Petitioner to the Respondent to the extent of the amount deposited. The arbitration petition is, accordingly, disposed of.

(S.C. GUPTE, J.)