Rakesh Kumar Wadhawan v. Unity Small Finance Bank

7.CARBP.292.2025.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO.292 OF 2025 Rakesh Kumar Wadhawan ....Petitioner

Versus

Unity Small Finance Bank & Ors.

...Respondents

Mr. Mayur Khandeparkar a/w. Shubra Swami, Sagar Shetty, Ashish Venugopal i/b. Ashish Verma i/b. Sagar Shetty, Advocate for the Petitioner.

Mr. Venkatesh Dhond, Senior Advocate a/w. Chakrapani Misra, Jigar Parmar & Shreya Mohapatra I/B Khaitan & Co., Advocates fpr Respondent No.1.

Mrs. Shehnaz V Bharucha i/b. A.A. Ansari, Advocate for Respondent No.3.

CORAM: SOMASEKHAR SUNDARESAN, J.

DATE : JUNE 20, 2025 ORDER :

1.

By an Order dated May 9, 2025, based on a prima facie view of the matter, taking into account the personal insolvency moratorium that has operated in favour of the Petitioner, namely, Mr. Rakesh Kumar Wadhawan, the effect of the Impugned Award, insofar as it related to Mr. Rakesh Kumar Wadhawan, was stayed. 2.

Learned Senior Counsel for the Respondent No. 1 (in this Petition) has appeared today and has instructions to submit that the Digitally signed by AARTI GAJANAN PALKAR Date:

2025.06.23 13:24:32 +0530 AARTI GAJANAN PALKAR June 18, 2025 Aarti Palkar

7.CARBP.292.2025.doc Petition may be disposed of by confirming that the Impugned Award may be read as an award that does not operate against the Petitioner. The Petitioner, on instructions, consents to such an approach. 3.

With the aforesaid clarification and consent confirmed by instructions by both sides, nothing survives in this Petition. Consequently, this Petition is finally disposed of by confirming that by consent of the parties, the Impugned Award shall not operate against the Petitioner.

4.

All actions required to be taken pursuant to this order shall be taken upon receipt of a downloaded copy as available on this Court's website.

[ SOMASEKHAR SUNDARESAN, J.] June 18, 2025 Aarti Palkar