Micro Capitals Pvt. Ltd. v. Aarya Equity India Pvt. Ltd. Cin No. 470109mh1991ptc224575

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.762 OF 2015 Micro Capitals Private Limited ....Petitioner Vs.

Aarya Equity India Private Limited ....Respondent ---- Mr. Nirman Sharma a/w. Mr. Rahul P. Jain I/b. Alpha Chambers for petitioner.

Mr. Sachit Agarwal, Director of petitioner present. Mr. J.S. Kini I/b. Mr. Suresh Dubey for respondent. Mr. Navin Rathod, Director of respondent present. ---- CORAM : K.R.SHRIRAM, J.

DATE : 25th SEPTEMBER 2018 P.C.:

After the petition was heard for some time, parties entered into consent terms dated 25th September 2018 under which parties agreed to refer the disputes to arbitration. The director of respondent - Mr. Navin Rathod has also agreed to be joined as party to arbitration proceedings in his personal capacity. The consent terms dated 25th September 2018 signed by the director of petitioner, Mr. Navin Rathod for himself and as director of respondent company and their respective advocates is taken on record and marked "X" for identification. Both counsel state that the signatories to the consent terms are present in Court and identify them.

2/5 For ease of reference, the consent terms is also scanned and reproduced hereunder :

3/5 By consent, Ms. Manjari Shah, an Advocate practicing in this Court is appointed as Sole Arbitrator to arbitrate on all disputes and differences, including counter claim, if any, arising out of or in connection with or relating to the Agreement which is the subject matter of this

4/5 petition. All rights and contentions of the parties are kept open including to raise issues of limitation. Parties, however, shall not contest the jurisdiction of the arbitrator since the Agreement has been entered into as recorded above.

The fees to be fixed by the Arbitrator, administrative expenses, typing charges and venue charges to be shared equally between the parties, i.e., 50% by petitioner and 50% by respondent and the same shall be subject to cost in the arbitral proceedings.

The Arbitrator to communicate in writing to the Advocate for petitioner with copy to respondent the disclosures as required under Section 11 (8) read with Section 12 (1) of the Arbitration and Conciliation Act, 1996 within two weeks of receiving a copy of this order from any of the party.

Company petition accordingly stands disposed. After the petition was admitted it was advertised. Therefore, petitioner to advertise disposal of the petition in Fress Press Journal and Navshakti within one week from today. Mr. Kini states that the advertising cost will be shared equally between the parties. Petitioner to file a compliance affidavit in the registry within two weeks from today, copy whereof shall also be filed with the Arbitrator.

5/5 Mr. Kini seeks leave to withdraw commercial suit no.338 of 2015 though it is not listed on board today and it is not part of this Court's assignment. Mr. Sharma has no objection.

Therefore, commercial suit no.338 of 2015 dismissed as withdrawn. Refund, if any, of court fees in accordance with rules. (K.R. SHRIRAM, J.) Digitally signed by Gauri Amit Gaekwad Date:

2018.09.27 10:59:05 +0530 Gauri Amit Gaekwad