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IN THE HIGH COURT OF DELHI
C. Hari Shankar, J.
Indiabulls Distribution Services Limited - Appellant
Versus
B.G.A Realtors - Respondent
Arb.P. 153 of 2021, I.A.s 1280 of 2021 &1281 of 2021 and Arb.P. 154 of 2021, I.A.s 1282 of 2021 & 1283 of 2021
Decided On : 28-01-2021
Important Points
The court affirmed that parties can withdraw legal petitions upon reaching a settlement, reinforcing party autonomy in dispute resolution.
Subject
Arbitration - Settlement Agreement
Headnote
(A) Arbitration and Conciliation Act, 1996 - Settlement agreement - The parties settled their disputes through a settlement agreement dated 7th November, 2020. (Paras 1-3)
(B) Dispute Resolution - Withdrawal of petitions - The court allowed the petitioner to withdraw the petitions based on the recorded settlement. (Paras 1-3)
Facts of the case:
The appellant sought leave to withdraw disputes settled through a written agreement dated 7th November, 2020.
Findings of Court:
The petitions were disposed of as the disputes were settled.
Issues: Whether the court could allow withdrawal of petitions based on a settlement agreement.
Ratio Decidendi: The court determined that parties could withdraw their petitions once a settlement was reached, affirming the principle of party autonomy in dispute resolution.
Result: Petitions disposed of.
(B) Dispute Resolution - Withdrawal of petitions - The court allowed the petitioner to withdraw the petitions based on the recorded settlement. (Paras 1-3)
Facts of the case:
The appellant sought leave to withdraw disputes settled through a written agreement dated 7th November, 2020.
Findings of Court:
The petitions were disposed of as the disputes were settled.
Issues: Whether the court could allow withdrawal of petitions based on a settlement agreement.
Ratio Decidendi: The court determined that parties could withdraw their petitions once a settlement was reached, affirming the principle of party autonomy in dispute resolution.
Result: Petitions disposed of.
| Table of Content |
|---|
| 1. settlement of disputes (Para 1) |
| 2. acknowledgment of settlement (Para 2) |
| 3. disposal of petitions (Para 3) |
ORDER (Oral)
(Video-Conferencing)
1. Learned counsel for the petitioner seeks leave to withdraw these petitions, stating that the disputes between the parties stand settled vide settlement agreement dated 7th November, 2020.
2. The statement is taken on record.
3. The petitions are disposed of.
