Tata Capital Financial Service Ltd v. Emta Coal Ltd And ANR

arbpl 254 of 2016 (915).sxw

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION (L) NO.254 OF 2016 M/s. Tata Capital Financial Service Ltd.

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Petitioner

Versus

Emta Coal Ltd. and Anr.

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Respondents Ms. Benedicta Lobo i/by M/s. Katariya and Associates, for Petitioner. Ms. Komal N. Joshi, for Respondent Nos.1 and 2. CORAM: S.J. KATHAWALLA, J.

DATE: 23rd MARCH, 2016 P.C.:

1.

The learned Advocate for the Respondents on instructions undertakes to pay the dues of the Petitioner as follows : (i) Rs. 4 Crores on or before 31-03-2016, subject to the machinery described in Exh. A (page 178 of the Petition), being sold. (ii)The balance amount to be paid on or before 31-07-2016. (iii)In the event of the machinery not being sold, the entire amount to be paid on or before 31-07-2016.

2.

The undertaking is accepted. The learned Advocate for the Petitioner therefore, seeks to withdraw the above Arbitration Petition with liberty to file a fresh Petition if so required. The Arbitration Petition is disposed of as withdrawn with liberty as sought.

( S.J.KATHAWALLA, J. ) ssp 1/1