Disposed
L and T Finance Ltd. v. Mohammed Khaja Muneeruddin and Anr.
Bombay HCARBP/609/2012
Case brief
AI extract
What is this about?
In an arbitration petition, the High Court of Judicature at Bombay passed an order based on admissions made by the respondents that dues were payable. The court mandated the payment of a specified principal amount via an installment schedule, imposed a penalty condition, allowed execution of the order as a decree, and directed the filing of an affidavit regarding machinery location.
What did the court decide?
Payment of Rs.19,09,000 in installments with a penalty condition; interest @ 18% p.a. on default; machinery location affidavit filed; order executable as decree.