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2017 DIGILAW 1609 (GUJ)

Amal Limited v. Kirti Infrastructure Limted

2017-09-08

B.N.KARIA, M.R.SHAH

body2017
ORDER : M.R. SHAH, J. 1. Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Commercial Court, Vadodara dated 29/11/2016 passed in Commercial C.M.A No. 6 of 2016, by which, the learned Commercial Court has rejected the application submitted under section 34 of the Arbitration Act and has confirmed the Award declared by the learned sole arbitrator, original applicant has preferred the present First Appeal. 2. Today when the present appeal is taken up for further hearing, Mr. Kunal Nanavati, learned advocate appearing on behalf of the appellant and Mr. Chirag Patel, learned advocate appearing on behalf of the respondent No. 1 herein have jointly submitted the Consent Terms dated 8/9/2017 signed by the respective parties, by which, against the Award passed by the learned sole arbitrator of Rs. 41,52,272/- along with interest, the respondent No. 1 herein has agreed to accept Rs. 1,16,741/- towards full and final settlement for its claim pursuant to the Award declared by the learned arbitrator, which is the subject matter of the present appeal and which was also the subject matter before the learned Commercial Court. It is reported that the appellant has also accepted the aforesaid amount towards full and final settlement and the Cheque of the aforesaid amount of Rs. 1,16,741/- drawn in favour of the respondent No. 1 is given to Mr. Chirag Patel, learned advocate appearing on behalf of the respondent No. 1. Therefore, the learned advocates appearing on behalf of the respective parties have requested to pass appropriate order and dispose of the present appeal in light of the subsequent development and settlement between the parties. 3. In view of the above and the settlement arrived at between the parties recorded in the settlement/Consent Terms dated 8/9/2017 signed by both the parties, which is directed to be taken on record, present appeal is disposed of in terms of the settlement/Consent Terms and it is observed that on realization of the cheque of Rs. 1,16,741/- to the respondent No. 1 herein, which the respondent has agreed to accept towards the full and final settlement of its claim pursuant to the Judgment and Award passed by the learned sole arbitrator, confirmed by the learned Commercial Court, there shall not be any claim of the respondent No. 1 against the appellant pursuant to the Award declared by the learned sole arbitrator dated 28/1/2005. 4. 4. With this, present appeal stands disposed of. 5. In view of disposal of the main First Appeal, Civil Application No. 9582 of 2017 also stands disposed of. 6. In the facts and circumstances of the case, there shall be no order as to costs.