West Coast Paper Mills Limited v. Riddhi Siddhi Gluco Biols Limited

4-ia-962-2020.doc jsn

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION INTERIM APPLICATION NO.962 OF 2020 IN COMM ARBITRATION PETITION NO.378 OF 2020 West Coast Paper Mills Ltd.

...Applicant / Petitioner

Versus

Riddhi Siddhi Gluco Biols Ltd.

...Respondent

---------- Ms. Shobhana Narayan and Ms. Shriya Raychaudhuri i/b. Khaitan & Co. for the Petitioner.

Mr. D.G. Borkar, Authorised Representative of West Coast Paper Mills Ltd.

---------- CORAM :R.I. CHAGLA J.

DATE :26 JUNE 2023.

ORDER :

1.

The learned Advocate appearing for the Petitioner in Commercial Arbitration Petition has sought leave to withdraw the Commercial Arbitration Petition in view of the disputes between the Petitioner and Respondent having been settled. She has referred to the order dated 13th June, 2023 passed in Execution Application No.62 of 2023, wherein this Court had taken the Consent Terms which had been executed between the parties on record and which 1/2

4-ia-962-2020.doc was marked 'X' for identification. By these Consent Terms, the Execution Application No.62 of 2023 had been disposed of. Under Clause 3(iii) of the Consent Terms marked 'X', it was agreed between the parties therein that within 7 days from disposal of the said Execution Application, the Judgment Debtor / Respondent therein shall make payment of the said amount under Clause 3(i) of the Consent Terms in full and final settlement and thereafter within 7 days, unconditionally withdraw the above Arbitration Petition filed and bring a closure to all the dispute under the Award. 2.

The Petitioner herein has complied with the aforementioned Clauses of the Consent Terms which have been accepted as undertaking to this Court and the payments have been made in full and final settlement and accordingly the present application is made for withdrawal of the above Arbitration Petition. 3.

In view thereof, the Commercial Arbitration Petition is disposed of as withdrawn.

4.

Refund of Court Fees in accordance with Rules. [R.I. CHAGLA J.] 2/2