Yogeshwari Logistics And ANR. v. Indiabulls Housing Finance Ltd.

Digitally signed by Meera M.

Jadhav Date:

2021.02.23 10:50:33 +0530 1/1 8.arbp-646-16.doc Meera M.

Jadhav

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 646 OF 2016 Yogeshwari Logistics & Anr ....Petitioners V/s.

Indiabulls Housing Finance Ltd.

....Respondent WITH ARBITRATION PETITION NO.647 OF 2016 Mr. Mohan A. Dharmaraj for Petitioner (in both petitions); Mr. Nikhil Rajani i/b V. Deshpande and Co. for Respondent (in both petitions).

CORAM : K.R.SHRIRAM, J.

DATED : 22nd FEBRUARY 2021 P.C. :

Counsel for petitioner states that he is fighting on principles. At the same time, counsel in fairness states that only 55% of the amount has been repaid. When the court asked, whether, out of Rs.9,20,694/-, which pertains to arbitration petition no.646 of 2016, petitioner would deposit Rs.6,00,000/- with the Prothonotary and Senior Master, High Court, Bombay, Counsel states that petitioner has no business and no money. The fact that amounts are owed to respondent is not disputed and only 55% of the amount to be repaid, has been repaid. Mr. Rajani states that much more amount has to be repaid.

In the circumstances, I see no reason to interfere. Both the petitions accordingly dismissed.

(K.R. SHRIRAM, J.) Meera Jadhav