This order dismisses two petitions challenging an arbitration award upon the parties entering into a settlement agreement where the petitioner agreed to pay the respondent.
Petitions dismissed on settlement; liberty to file execution in case of default on encashing of cheques.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
$~18 & 20
..... Petitioner
Through : Mr.Bipin Kr.Dwivedi, Advocate.
versus
M/S S.P. CONTRACTS PVT LTD
..... Respondent
Through : Mr.M.S.Ahluwalia, Advocate.
versus
M/S S.P. CONTRACTS PVT LTD
..... Respondent Through : Mr.M.S.Ahluwalia, Advocate.
CORAM: HON'BLE MR. JUSTICE YOGESH KHANNA
O R D E R
% 06.02.2018
Both the petitions are under Section 34 of the Arbitration and Conciliation Act, 1996 challenging the award dated 05.11.2013. During the course of the hearing the parties have entered into an agreement. The learned counsel for the petitioner herein submits that the petitioner have to pay an amount of 1.75 crores in both the cases to the respondent and last of such payment was made on 26.03.2017. The post dated cheques and pay orders are already
handed over by the counsel for the petitioner to the respondent. It is submitted that the post dated cheques shall be encashed positively and the party shall abide by the terms and conditions of the agreement entered into between them before the mediation centre. In view of the submissions so made there is nothing left in both the petitions and accordingly both the petitions are dismissed. In case the default arisen in encashing the cheques the respondent has a liberty to file an execution against the petitioner.
YOGESH KHANNA, J
FEBRUARY 06, 2018 DU
2 issues framed by the court
Whether two petitions challenging an arbitration award under Section 34 of the Arbitration and Conciliation Act, 1996 should be dismissed upon settlement.
Whether the parties' settlement agreement disposes of the impugned arbitration award.
1 provisions across 1 enactments
M/s Exact Developers & Promoters Pvt Ltd
M/s S.P. Contracts Pvt Ltd
Yogesh Khanna
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
