Mrs. Sandhya Sahilesh Rajadhyax v. Sandeep Sethia And Another

sat 1/1 arbp 1086-2014.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 1086 OF 2014 Mrs.Sandhya Sahilesh Rajadhyax

...Petitioner

vs Sandeep Sethia & Anr.

...Respondents

Mr.D.J. Bhanage I/b. Yogesh Jaybhaye for Petitioner. Mr.Abhishek Pungliya for Respondent No.1.

Mr.Dakshesh Vyas with Kunal Parekh I/b. Thakore Jariwala & Associates for Respondent No.2.

CORAM : S.C.GUPTE, J.

DATE : 18 JANUARY 2019 P.C. :

After the matter is heard at some length, it is agreed between learned Counsel for the parties that the impugned award can be set aside and the matter be remanded to a new appellate arbitral tribunal for a fresh hearing in accordance with law.

Accordingly, the impugned award is set aside by consent and the reference is remanded to the National Stock Exchange of India Ltd. for placing the same before an appellate arbitral tribunal for fresh hearing in accordance with law. Both the arbitration appeals shall be heard by one appellate arbitral tribunal.

The arbitration petition is, accordingly, disposed of. All rights and contentions of the parties on merits are kept open. (S.C. GUPTE, J.)