Rajiv Popatlal Gandhdi v. Ventura Secureities Ltd

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901. ARBP 82-14.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.82 OF 2014 Rajiv Popatlal Gandhi ...

Petitioner

Versus

Ventura Securities Ltd ...

Respondent .....

Mr. Harish Pandya a/w Mr. Rajendra Kookada i/b Ms. Sheela Mistry for the Petitioner.

Mr. Simit Purohit i/b Purohit & Co. for the Respondent. .....

CORAM : S.C. GUPTE, J.

DATE : 22 JANUARY 2019 P. C. :

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After the matter is heard at some length, it is agreed between learned Counsel for the parties that the impugned order may be set aside by consent and the matter be remanded to a fresh arbitral tribunal for a fresh hearing in accordance with law. Accordingly, by consent, the impugned award dated 27 August 2013 is set aside and the matter is remanded to a new arbitral tribunal to be appointed by the National Stock Exchange Ltd ("NSE"). It is agreed between learned Counsel for the parties that pleadings and evidence forming part of the reference shall be treated as pleadings and evidence before the new arbitral tribunal. In case any additional pleadings or evidence need to be filed, an application may be made to the arbitral tribunal and the tribunal shall consider the same on its own merits. All rights and contentions of the parties on merits are kept open.

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901. ARBP 82-14.doc The Arbitration Petition is disposed of.

Refund of court fees, if any, in accordance with the applicable rules. (S.C. GUPTE, J.)