Atharva Infrastructure And ANR v. L And T Finance Ltd.

sat arbp 300-2018.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 300 OF 2018 Atharva Infrastructure & Anr.

...Petitioners

Vs.

L and T Finance Ltd.

...Respondent

Ms.Prachi A. Tatake for Petitioners.

Ms.Jalpa Pithadia I/b. S.I. Joshi & Co. for Respondent. CORAM : S.C. GUPTE, J.

DATE : 18 SEPTEMBER 2018 P.C. :

Learned Counsel for the parties inform the court that the dispute covered by the present arbitration petition has been settled. The Petitioners have addressed a letter to that effect to the Respondent on 30 August 2018. The Petitioners have inter alia recorded an agreement between the parties that after deposit of the balance amount of final instalment towards full and final payment agreed between the parties, the Respondent shall issue an NOC for all agreements and in the meantime, issue a loan clearance letter to the agreement being the subject matter of the present petition so that process could be initiated for withdrawal of the proceedings. Learned Counsel for the Respondent confirms this arrangement and states that her client shall honour this settlement. Learned Counsel for the Petitioners, in the premises, prays for leave to withdraw the petition.

The petition is disposed of as withdrawn after recording the 1 / 2

sat arbp 300-2018.doc statement of the parties. The Respondent shall issue the requisite NOC and the loan clearance letter within a period of four weeks from today. (S.C. GUPTE, J.) 2 / 2