Man Friday Travels And Solutions India Pvt Ltd And 6 ORS v. The Punjab And Maharashtra Co-Op Bank Ltd

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.976 OF 2018 Man Friday Travels and Solutions India Pvt.Ltd.. Petitioner vs The Punjab and Maharashtra Coop Bank Ltd .. Respondent Mr.Mahendra Swar for Petitioner Mr.Ashok B.Satpute for Respondent Parties present Coram : G.S.KULKARNI, J Date : 13 DECEMBER, 2018 P.C 1.

On the background on what had transpired at the earlier hearing before the Court, learned counsel for the parties have tendered consent terms. It is stated that in view of the consent terms, the disputes between the parties, as arisen in the impugned award stands finally settled. It is stated that the consent terms is signed by the Director-applicant no.3 Ms. Pritam Laxmikant Gulgulwar who is authorised by applicant no.1 and all the remaining applicants to sign the consent terms. On behalf of the respondent, Mr.Jasbir Singh Matta Manager of Recovery Department of respondent has signed the consent terms.. The respective advocates of the parties have also initialled the consent terms. There' is no dispute on the signatures as put on the consent terms. The consent terms are taken on record and marked 'X' for identification. There are undertakings as recorded in therein. These undertakings are accepted. Arbitration petition is disposed of in terms of consent terms. No costs. 2.

It is clarified that if there is any breach of the undertakings, the respondents shall be free to adopt appropriate proceedings including initiating a contempt action against the applicants.

(G.S.KULKARNI, J)

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