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Judgment
8 paragraphs · 232 wordsSanjeev Sachdeva, J
OMP (I) (COMM) 86/2022 has been filed by the petitioners who are the landlords of K-1/44, WHS, Kirti Nagar, New Delhi against the respondent who are their tenants seeking certain interim protection.
Arbitration Petition 333/2022 is a petition seeking appointment of an arbitral tribunal in terms of the lease deed dated 16.04.2021.
Respondent is represented through Mr. Manne Nagender Rao who is the head of the business development and acquisition who has been duly authorised by resolution of the Board of Directors dated 12.04.2022 to appear in the proceedings and also settle on behalf of the respondents.
Parties have entered into a settlement agreement dated 12.04.2022. Mr. Mohit Narang as well as Mr. Manne Nagender Rao are present in person. They confirm their signatures on the said agreement and undertake that they shall remain bound by the terms and conditions thereof. A copy of the settlement agreement as well as the resolution of the Board of Directors has been filed in Court. Same is taken on record.
Learned counsel for petitioner submits that in view of the settlement petitioner does not press Arbitration Petition 333/2022 and accordingly seeks leave to withdraw the same.
Arbitration Petition 333/2022 is dismissed as withdrawn.
OMP (I) (COMM) 86/2022 is disposed of in terms of the settlement agreement. Parties shall remain bound by the terms and conditions.