Dismissed

Steel Authority of India Ltd. v. M/S a -One Handling Agency , Mumbai

Bombay HC9 Jan 2024APP/395/2009

Case brief

AI extract

What is this about?

The High Court of Bombay disposed of an appeal challenging the dismissal of a Section 34 application. On the day of hearing, the parties settled via consent terms, leading to the court dismissing the appeal and ordering the release of a bank guarantee.

What did the court decide?

The bank guarantee in the sum of Rs.1,38,15,774/- furnished by the Respondent be released.

Steel Authority of India Ltd. Vs M/S a -One Handling Agency… — Arbitration | Bombay HC (2024)

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3.APP.395.09.DOC

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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APPEAL NO. 395 OF 2009 IN

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ARBITRATION PETITION NO.44 OF 2008

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Steel Authority of India Ltd ..Appellant Versus M/s. A-One Handling Agency ..Respondent

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ANJALI TUSHAR ASWALE

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Digitally signed by ANJALI TUSHAR ASWALE Date: 2024.01.09 15:33:39 +0530

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Mr.Abhishek Ingale , with Mr.Pradeep Kumar i/b C. R. Naidu & Co, Advocates for the Appellant.

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Mrs.Mrunalini V. Panchal i/b MRK Law Associates, Advocates for the Respondent.

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Mr. Anil Kumar Samal, Authorised Representative of the Appellant is present.

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Mrs Neeru Bansal, Proprietor of the Respondent is present.

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CORAM : B. P. COLABAWALLA & SOMASEKHAR SUNDARESAN, JJ. DATE : JANUARY 9, 2024

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P.C.

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The above Appeal challenges the order of the learned Single Judge of this Court under which the Petition filed by the Appellant under Section 34 of the Arbitration and Conciliation Act, 1996 was dismissed.

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2 When the above Appeal is called out, we are happy to note that the parties have settled their disputes as recorded in the

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Page 1 of 3 JANUARY 9, 2024

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Aswale

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3.APP.395.09.DOC

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Consent Terms dated 9^th January, 2024. The Consent Terms inter alia provide that towards the satisfaction of the impugned Award dated 11^th May, 2005, the Respondent, has appropriated a sum of Rs.1,33,15,774/- towards the satisfaction of its claim and the said Award is to be marked as satisfied. The Consent Terms also provide that the bank guarantee furnished by the Respondent in the sum of Rs.1,38,15,774/- in favour of the Prothonotary and Senior Master of this Court be released in favour of the Respondent.

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3 The Consent Terms have been signed by Mr. A. K. Samal, the General Manager (Sales) of the Appellant. He is present in Court today. He has stated that he has signed the Consent Terms on behalf of the Appellant after reading and understanding the same as well as the implications thereof.

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4 The Consent Terms have also been signed by the Respondent-Ms.Neeru Bansal. She too is present in Court today. She also has stated that the Consent Terms have been signed by her after reading and understanding the same as well as the implications thereof.

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Page 2 of 3 JANUARY 9, 2024

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Aswale

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3.APP.395.09.DOC

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5 The Consent Terms have also been signed by the advocates for the Appellant and the advocates for the Respondent.

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6 In these circumstances, the Consent Terms dated 9^th January, 2024 are taken on record and marked “X” for identification. The undertakings given in the Consent Terms, if any, are accepted as undertakings given to the Court. There shall be an order in terms of the Consent Terms and the Appeal is also disposed of in terms thereof.

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7 In view of these Consent Terms, the Prothonotary and Senior Master shall forthwith release the bank guarantee furnished by the Respondent in the sum of Rs.1,38,15,774/- as more particularly recorded in clause 6 of the Consent Terms.

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8 This order will be digitally signed by the Private Secretary/ Personal Assistant of this Court. All concerned will act on production by fax or email of a digitally signed copy of this order.

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[SOMASEKHAR SUNDARESAN, J.] [ B. P. COLABAWALLA, J.]

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Page 3 of 3 JANUARY 9, 2024

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Aswale

Steel Authority of India Ltd. v. M/S a -One Handling Agency , Mumbai

Case brief

What is this about?

What did the court decide?

Steel Authority of India Ltd. v. M/S a -One Handling Agency , Mumbai

Case brief

What is this about?

What did the court decide?

What the court decided

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Coram

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