Bombay High Court
WAAREE ENERGIES LIMITEDversusORBITAL ELECTROMECH ENGINEERING PROJECTS PVT
- Decided
- Disposal
- DISPOSED OFF
Holding
The petition is disposed of in terms of the Consent Terms, and the pre‑deposit is ordered to be released to the respondent.
Summary
The petition was filed under Section 34 of the Arbitration and Conciliation Act, 1996 challenging an arbitral award dated 2 November 2022. The parties subsequently executed Consent Terms on 3 September 2026, settling all claims, counter‑claims and disputes relating to the award. The petitioner had earlier deposited Rs. 32,71,697 as a pre‑deposit in the court. The court, noting Clause 9(a) of the Consent Terms, ordered that the deposited amount with interest be released to the respondent within three weeks. The Consent Terms were recorded, and the arbitration petition along with any interim applications were disposed of in accordance with the settlement. Court fees were to be refunded as per the rules.
Issues considered
- What is the effect of a settlement (Consent Terms) on a pending arbitration petition filed under Section 34 of the Arbitration and Conciliation Act, 1996?
Legislation cited
Subjects
- Arbitration
- Section 34
- Consent Terms
- Settlement
- Pre‑deposit
- Award challenge
Judgment
3-ARBP-368-2024.DOC
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
ARBITRATION PETITION NO. 368 OF 2024
WITH
INTERIM APPLICATION (L) NO. 21577 OF 2023
Waaree Emergies Limited ...Appellant(s)
Versus
Orbital Electromech Engineering
Projects Pvt. Ltd. ...Respondent(s)
_______
Ms. Nikita Bagaria and Ms. Ashmita Singh i/b Link Legal, Advocates for Petitioner
present.
Mr. Manoj Sinsinwar, Authorized Representative of the Petitioner present. (thr.
V.C.)
Mr. Hemant Ghadigaonkar, Ms. Pallabi Chatterjee and Mr. Ohm Gandhi,
Advocates for the Respondents.
Ms. Pallavi Choube, Authorized Representative of the Respondent present.
_______
CORAM: AARTI SATHE, J.
DATE: 03rd SEPTEMBER, 2026
P.C.
1. This Arbitration Petition has been filed under Section 34 of the Arbitration
and Conciliation Act, 1996 challenging the award dated 02 nd November, 2022
(impugned award).
2. Heard learned counsel appearing on behalf of the parties.
3. Learned counsel appearing on behalf of the parties have tendered today in
Court the Consent Terms which are signed by the Petitioners and Respondents
representatives and have been identified by their respective Advocates. By way of
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3-ARBP-368-2024.DOC
the aforesaid Consent Terms dated 03 rd September 2026, parties have settled their
claims, counter-claims, demands, disputes and proceedings in respect of which the
impugned award has been passed.
4. Learned counsel appearing on behalf of the Petitioner submits that an
amount of Rs. 32,71,697/- had been deposited by the Petitioner by way of pre-
deposit in this Court. Considering the Consent Terms which have been arrived at
between the parties and particularly in view of Clause 9(a) of the aforesaid Consent
Terms dated 03rd September 2026, it is directed that the aforesaid amount of Rs.
32,71,697/- together with interest accrued thereon be released and paid over to the
Respondent Orbital Electromech Engineering Projects Pvt. Ltd within three weeks
from the date of this order.
5. The Consent Terms are taken on record and marked as ‘X’ for identification.
The present Arbitration Petition is disposed of in terms of the aforesaid Consent
Terms.
6. Interim Applications, if any, also stand disposed of.
7. Refund of Court Fees to be given as per rules.
(AARTI SATHE, J.)
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