Bombay High Court
M/S. GLOBE CAPITAL MARKET LTDversusHRIM FINANCE AND SECURITIES PRIVATE LTD
- Decided
- Disposal
- WITHDRAWN
Holding
The court held that an arbitration petition can be withdrawn upon the parties' mutual settlement evidenced by consent terms.
Summary
The petitioner, Globe Capital Market Limited, filed an arbitration petition against Hrim Finance and Securities Private Limited. The petitioner later sought to withdraw the petition, citing a settlement reached between the parties through consent terms dated 30 August 2026. The court examined the request to withdraw the arbitration proceeding in light of the parties' mutual agreement. It accepted the consent terms as evidence of settlement. Consequently, the court disposed of the arbitration petition as withdrawn, ordered no costs, and directed a refund of court fees as per the rules.
Issues considered
- Whether an arbitration petition may be withdrawn when the parties have settled the dispute by mutual consent.
Subjects
- Arbitration
- Withdrawal of petition
- Settlement
- Consent terms
- Court fees
Judgment
507-ARBP 1210-2016.DOC
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
ARBITRATION PETITION NO. 1210 OF 2016
M/s Globe Capital Market Limited ...Appellant
Versus
Hrim Finance and Securities Private Limited ...Respondents
_______
Dr. Anurag Agrawal, Ms. Kokila Kalra, Adv. Beerta Bajwa, Ms. Alifiya Manasawala,
Mr. Prateek Agrawal, Ms. Surabhi Mittal, Mr. Praveen Kumar Yadav, Mr. Chinmay
Swarna, Ms. Shrutika Bidse, Advocates for Petitioner.
Ms. Sayali Kshirsagar i/b Mr. Mansukhlal Hiralal and Company, Advocates for
Respondent.
_______
CORAM: AARTI SATHE, J.
DATE: 07th SEPTEMBER, 2026
P.C.
1. Learned counsel appearing for the Petitioner submits that he seeks leave to
withdraw the aforesaid Arbitration Petition in view of the consent terms dated 30 th
August 2026 which have been arrived at between the parties and the dispute has
been settled.
2. Copy of the consent terms taken on record and marked ‘X’.
3. In view thereof, Arbitration Petition is disposed of as withdrawn. No Cost.
4. Refund of Court Fees to be given as per rules.
(AARTI SATHE, J.)
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