Shriram Epc Ltd. v. Sulzer Pumps India Limited

3_CARBP_627_21.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO. 627 OF 2021 WITH INTERIM APPLICATION NO. 2697 OF 2022 WITH INTERIM APPLICATION NO. 2201 OF 2022 IN COMMERCIAL ARBITRATION PETITION NO. 627 OF 2021 WITH COMMERCIAL ARBITRATION PETITION NO. 191 OF 2022 WITH INTERIM APPLICATION (LODGING) NO. 3041 OF 2021 WITH INTERIM APPLICATION (LODGING) NO. 8431 OF 2020 IN COMMERCIAL ARBITRATION PETITION NO. 191 OF 2022 M/s. Shriram EPC Limited ...

Petitioner vs.

M/s. Sulzer Pumps India Limited ...

Respondent Mr. Ashok Anchale a/w. Mr. R. Mohandas, Mrs. Ruby R. Vishwakarma, i/by. Rajalakshmy Associates for petitioner.

Mr. Hormuz Mehta a/w. Mr. Ashan Allana, i/by. J. Sagar Associates for respondent.

CORAM : MANISH PITALE, J DATE : 30th NOVEMBER, 2022 P.C. :

.

The parties have entered into a settlement for disposal of both these petitions as also pending interim applications. Consent terms signed by the parties and their respective counsel are handed over alongwith the annexures therewith. The same are taken on record and marked 'X' for identification. The consent terms are found to be in order. The undertakings 1/2

3_CARBP_627_21.doc given in the consent terms are accepted as undertakings to the Court. 2.

In respect of paragraph No.18 of the consent terms, a specific direction is sought jointly by the parties. Accordingly, the Prothonotary and Senior Master of this Court is directed to hand over the bank guarantee to the tune of Rs.3.5 crores and all connected papers to Axis Bank Limited for facilitating release of the same directly by Axis Bank Limited in favour of the respondent.

3.

The parties are directed to abide by their respective obligations as per the consent terms.

4.

The petition is disposed of as per consent terms. A soft copy of the minutes of the consent terms shall be uploaded as the second order in the matter. The hard copy of the consent terms, duly signed by the parties and respective counsel shall be retained in the record and shall not be sent for destruction in the usual course.

5.

The Court fees shall be refunded as per the rules, without insisting upon a separate application.

6.

Pending applications also stand disposed of in view of the disposal of the petition.

(MANISH PITALE, J) Priya Kambli 2/2