Calcutta High CourtAP/35/2021disposed

Transform Steel Private Limited v. Srei Equipment Finance Limited And ORS

2021-08-17Hon'Ble Justice Moushumi Bhattacharya3 pages

ODC-7, 8, 9

IN THE HIGH COURT AT CALCUTTA

Ordinary Original Civil Jurisdiction ORIGINAL SIDE (Commercial Division) IA No. GA/1/2021 in AP/34/2021 NARBHERAM POWER AND STEEL PVT. LIMITED

Versus

SREI EQUIPMENT FINANCE LIMITED AND ORS.

AND IA No. GA/1/2021 in AP/35/2021 TRANSFORM STEEL PVT. LIMITED

Versus

SREI EQUIPMENT FINANCE LIMITED AND ORS.

AND IA No. GA/2/2021 in AP/89/2021 SREI EQUIPMENT FINANCE LIMITED

Versus

BHAGWATI POWER AND STEEL LIMITED AND ORS.

BEFORE:

The Hon'ble JUSTICE MOUSHUMI BHATTACHARYA Date : 17th August, 2021.

[Via Video Conference] Appearance:

Mr. Ranjan Bachawat, Sr. Adv.

Mr. Anuj Singh, Adv.

Ms. Rashhmi Singhee, Adv.

Ms. Madhuja Barman, Adv.

Mr. Shaunak Mitra, Adv.

Mr. Saptarshi Mandal, Adv.

The Court : It appears from the submissions of learned counsel appearing for the parties that the parties have entered into a settlement agreement dated 28th July, 2021, which has been signed by

all the parties before the Court. The agreement mentions that five proceedings which were initiated between the parties being three applications under Section 9 of The Arbitration and Conciliation Act, 1996 and two applications under Section 11 of the said Act have all been finally settled by the parties. Clause 1 of the said agreement records that the parties have arrived at a full and final settlement of the disputes between them and that all allegations and contentions made by the respective parties stand withdrawn. The parties have also agreed to be governed by the settlement agreement dated 28th July, 2021. The agreement also records the proceedings which are pending between the parties.

In view of the submissions made on behalf of the contesting parties and the settlement agreement which is found to be in accordance with law, AP No.34 of 2021, AP No.35 of 2021 and AP No.89 of 2021 are disposed of in terms of the settlement agreement executed between the parties.

All interim orders stand vacated and all connected applications are disposed of in terms of this order.

(MOUSHUMI BHATTACHARYA, J.)