Hmg Industries Ltd. v. 3a Capital Services Ltd.

35-ARBPL1344-19.DOC Atul

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION APPLICATION (L) NO. 1344 OF 2019 HMG Industries Ltd ...Applicant

Versus

3A Capital Services Ltd

...Respondent

Ms Anita Castellino, i/b Lambay & Co., for the Applicant.

Mr Madhur Rai, i/b PRS Legal, for the Respondent.

CORAM:

G.S. PATEL, J.

DATED:

25th November 2019 PC:- 1.

After some arguments Ms Castellino seeks leave to withdraw the application. The arbitration application is dismissed as withdrawn.

2.

It is, however, clarified that all contentions as between the applicant and ICICI Bank Ltd and the respondent in relation to, and only to, the auction sale conducted by the ICICI Bank, and the bidding process regarding the 5 lakh preference shares, are kept open for appropriate proceedings in a jurisdictionally competent forum.

(G. S. PATEL, J) 25th November 2019