Global Asia Venture Company v. Arup Parimal Deb And 3 ORS

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION [ COMMERCIAL DIVISION ] COMMERCIAL EXECUTION APPLICATION NO.58 OF 2017 ALONG WITH CHAMBER SUMMONS NO.992 OF 2019 ALONG WITH CHAMBER SUMMONS NO.706 OF 2017 Global Asia Venture Company .. Org. Applicant-Decree Holder Vs.

Arup Parimal Deb and Ors.

.. Org. Respondents-Judg. Debtors ALONG WITH CHAMBER SUMMONS NO.66 OF 2016 IN COMMERCIAL EXECUTION APPLICATION NO.58 OF 2017 Arup Parimal Deb and Ors.

.. Applicants-Org. Respondents In the matter between Global Asia Venture Company .. Org. Applicant-Decree Holder Vs.

Arup Parimal Deb and Ors.

.. Org. Respondents-Judg. Debtors Mr. Vyapak Desai, i/by Nishith Desai Associates, for the Original ApplicantDecree Holder-Judgment Creditor. Ms. Jyoti Sinha, with Mr. Raj Panchmatia and Mr. Haabil Vahanvati, i/by Khaitan & Co., for the Applicants-Original Respondents-Judgment Debtors. CORAM : A. K. MENON, J.

TH OCTOBER, 2021.

DATE : 4 P.C. :

1.

Parties state that they have agreed to settle the claim of the judgment1/2 7-COMEX-58-2017.doc Dixit

creditor. Both sides state that the matter is settled out of court. The respondents/judgment-debtors have handed over a pay order today for the amount agreed to be paid under the settlement. 2.

Both the parties have agreed on modalities of settlement in Consent Terms dated 31 st August 2021. They have requested the court to take the consent terms on record and to dispose the execution application. Accordingly, at their request, I pass the following order :- (i) Award shall be marked satisfied upon compliance with the terms agreed between the parties, as per the consent terms.

(ii) It is made clear that there is no separate order in terms of the consent terms. Consent Terms are simply taken on record for the purpose of recording mode of satisfaction of the Award.

(iii) In view of the above, all interlocutory applications/chamber summonses pending in the Execution Application stand disposed as infructuous. Interim order, if any, stand vacated.

(iv) Execution Application is disposed in the above terms. (A.K. MENON, J.) 2/2 by SNEHA ABHAY DIXIT Date:

2021.10.04 17:21:58 +0530 SNEHA ABHAY DIXIT 7-COMEX-58-2017.doc Dixit