M/S Kotak Mahindra Bank Ltd v. Travelone India Pvt Ltd, Rep. By Its Director

Application No.4631 of 2022 and Arb.O.P.(Com.Div)No.294 of 2021 SENTHILKUMAR RAMAMOORTHY J.

By the previous order on 11.10.2022, it was recorded that the parties have concluded a settlement. The said settlement was for a consolidated sum of Rs.11.25 lakhs. After reckoning payments made previously, a further sum of Rs.1,00,000/- was to be paid and the said sum is in court deposit. Therefore, the applicant herein was directed to file an application for payment out of the sum.

2. The applicant has filed the present application for this purpose and the certificate of funds is enclosed. The certificate of funds discloses that a sum of Rs.1,00,000/- is lying in court deposit to the credit of Arb O.P.(Com.Div)No.294 of 2021. Learned counsel appearing for the first and second respondents herein, who were the petitioners in the Arb O.P., states that the said respondents have no objection to this application being allowed. The third and fourth respondents herein were given up in the Arb O.P.

2. In the above facts and circumstances, this application is liable to Page No.1 of 3

be allowed. Accordingly, this application is allowed. The Registry is directed to permit the applicant to withdraw the sum of Rs.1,00,000/-(Rupees one lakh only), which was deposited to the credit of Arb O.P.(Com.Div)No.294 of 2021. Consequently, Arb.O.P.(Com.Div)No.294 of 2021 is closed. 18.10.2022 rrg SENTHILKUMAR RAMAMOORTHY Page No.2 of 3

rrg Application No.4631 of 2022 18.10.2022 Page No.3 of 3