M/S. Bashir Automobiles Prop. Irshad Bashir Gadak And ORS. v. The Saraswat Co. Op. Bank Ltd. Mumbai And ORS.

903-ARA-51-2023.doc Manoj Wakle

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION ARBITRATION APPEAL NO.51 OF 2023 M/s. Bashir Automobiles Prop. Irshad Bashir Gadak & Ors.

...Appellants Org. Applicants

Versus

The Saraswat Co.op. Bank Ltd. Mumbai & Ors.

...Respondents

Org. Claimants ---------- Mr. OM N. Latapate i/b Mr. Prasad Avhad for the Appellants. Jahangir Bashir Gadak party in person is present in Court. ---------- CORAM : R.I. CHAGLA, J.

DATE : 6TH DECEMBER, 2023.

ORDER :

1.

The learned Counsel appearing for the Appellants has sought leave to withdraw Arbitration Appeal No.51 of 2023 on the ground that certificate has been issued by Respondent No.1 to the effect that there are no dues and no charges on the assets of the Digitally signed by WAKLE MANOJ JANARDHAN Date:

2023.12.07 19:18:48 +0530 borrower and guarantors and that the facilities stand closed in the WAKLE MANOJ JANARDHAN books of Defendant No.1 on 17th October, 2023. 2.

The learned Counsel appearing for the Appellants has 1/2

903-ARA-51-2023.doc tendered certificate issued by Respondent No.1 dated 18th October, 2023, which certificate further states that the facility is closed in terms of one time settlement sanctioned by the Board of Respondent No.1 in its meeting dated 10th October, 2023. 3.

The Certificate is taken on record and marked 'X' for identification.

4.

In view thereof, Arbitration Appeal No.51 of 2023 is disposed of as withdrawn.

5.

Refund of Court Fees in accordance with the Rules. [ R.I. CHAGLA, J. ] 2/2