Rbi Employees Ashish Chs Limited v. Triveni Developers And 2 ORS.

pvr 902carap266-19-carbp1029-19

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION Commercial Arbitration Application NO. 266 OF 2019 RBI Employees Ashish CHS Limited ...Applicant

Versus

Triveni Developers And Ors.

...Respondents

WITH Commercial Arbitration Petition NO. 1029 OF 2019 RBI Employees Ashish CHS Limited

...Petitioner

Versus

Triveni Developers And Ors

...Respondents

--- Mr.Anand Mishra i/b. Ashok M.Saraogi, for the Applicant/Petitioner. Mr.Paresh C.Mankad, Nihar P.Mankad i/b. Pravin Kadam, for Respondent Nos.1 to 3.

----- CORAM : G.S. KULKARNI, J.

DATE : 18th October, 2019 P.C.:

1.

Both these proceedings were heard from time to time. Today learned Counsel for the parties have placed on record consent terms dated 18 October 2019 as entered between the parties. They are signed by the representatives of the respective parties who are present in the Court and who are identified by their respective advocates. There is no dispute on the signatures as made on the consent terms. The consent terms are accordingly taken on record and marked "X" for identification. The undertakings as set out in the consent terms are accepted.

pvr 902carap266-19-carbp1029-19 2.

Learned Counsel for the respondents on instructions of his client who is present in the Court, informs that if there is any default in complying any of the terms and conditions of the consent terms, the petitioner would be entitled to take over the project either to complete the same by self redevelopment or by appointing another developer. Statement is accepted.

3.

Further Learned Counsel for the Respondents on instructions states that all the payments which are being made by the respondents including the cheques being handed over to the petitioner/applicant, would be honoured. Statement is accepted. 4.

Both, the petition and the application are accordingly disposed of in terms of the consent terms. No costs. [G.S. KULKARNI, J.]