Matrix Partners India Investment Holdings, Llc And 2 Others v. Shailendra Bhadauria And 6 Others

8.CHSCD.1030.18 in COMEXL.2113.18.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL APPELLATE JURISDICTION IN ITS COMMERCIAL DIVISION CHAMBER SUMMONS NO. 1030 OF 2018 AND COMMERCIAL EXECUTION APPLICATION (L) NO. 2113 OF 2018 Matrix Partners India Investment Holdings, LLC & Ors.

...

Applicants/Order Creditors

Versus

Shailendra Bhadauria & Ors.

...

Respondents/Order Debtors Ms. Juhi Mathur, Atika Vaz i/b Shardul Amarchand Mangaldas & Co. for the Applicants.

Mr. Shubham Agrahari a/w Nishant Bhatia, Siddharth Singh, Jahnavi Agrawal i/b Anoma Law Group LLP for Respondent Nos.1 to 4. Mr. Hiral Vora i/b Maniar Srivastava Associates for Respondent Nos.5 to 7. CORAM : R.I. CHAGLA, J.

DATED : 20th JUNE, 2019.

P.C. :

The learned Counsels for the order Creditors, Respondent Nos.1 to 4 and Respondent Nos.5 to 7 have jointly filed the praecipe stating that the parties have amicably settled their disputes and that the Hon'ble Arbitral Tribunal has passed Consent Award dated 25.05.2019. In view thereof the Applicants seeks to withdraw the above Execution Application and for this Court to take on record one executed original of the Consent Award. Further, in accordance with clauses 23 and 24 of the Consent Award, the parties have sought an order from this Court disposing of the captioned Execution Application in terms of the Consent Award by Waghmare 1/2

8.CHSCD.1030.18 in COMEXL.2113.18.doc recording the Respondents undertaking that save and except Annexure C Properties (as defined in the Consent Award), the Respondents shall not dispose off and/or create any third party rights in any of their movable and immovable assets (whether encumbered or not) and maintain an injunction with respect to the same in accordance with the orders that may be passed by this Court in the captioned matter till such time that the Consent Award is satisfied.

Considering that the parties have settled their disputes and that the Arbitrator appointed has passed consent award dated 25.05.2019 and in view thereof the Applicants are withdrawing the Execution Application and the praecipe has been filed jointly by the parties to the dispute, the Applicants are granted permission to withdraw the Execution Application. The Execution Application is dismissed as withdrawn. The executed original Consent Award is taken on record and marked 'X' for identification. The undertaking in clauses 23 and 24 of the Consent Award is accepted as an undertakings to this Court, and order is passed in terms thereof.

In view of dismissal of Execution Application, all pending interim applications do not survive.

(R.I. CHAGLA, J.) Waghmare 2/2