IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.180 of 2009. ARBITRATION PETITION NO.180 of 2009. ARBITRATION PETITION NO.180 of 2009. Pidilite Industries Ltd. ..Petitioner versus Movendo International Forwarding Spa & Others ..Respondents Mr.Virag Tuljapurkar, learned Sr. Counsel with Phiroz Palkhiwala , Ms. Somaya Srikrishna, P.C.Mankad i/b. P.D.Kadam for the petitioner Mr.J.P.Sen with Ms. Farzana Behramkamdin i/b. FZB & Associaties for the respondent No.1 Mr.F. Sayyed i/b. M.K.Ambalal & Co for the respondent No.2. Ms.Vimla Shah for the respondent No.4 CORAM : R.Y.GANOO, J. CORAM : R.Y.GANOO, J. CORAM : R.Y.GANOO, J. DATED : 26th March, 2009. DATED : 26th March, 2009. DATED : 26th March, 2009. P.C. 1. Minutes of the Order dated today i.e. 26th March, 2009, signed by all the learned Advocates appearing on behalf of the respective parties, except on behalf of the respondent No.2 have signed this Minutes of Order. 2. In terms of this minutes of Order, respondent No.2 is required to pay specific amount set out in Clause 3 to respondent No.1. The learned Advocate appearing on behalf of the respondent No.2 submitted to the Court that as of -2- today he is unable to accept the figure which is mentioned in Clause (3) i.e. Euro 218810.05 and that according to him the bank is liable to pay to respondent No.1 the amount covered by letter of Credit and taking into consideration the terms of the minutes of the Order, the bank will have no objection to pay the amount covered by the letter of credit to respondent No.1. In view of this statement made by the Counsel for the respondent NO.2, even if the counsel for the respondent No.2 has not signed this minutes of Order, the Order in terms of Minutes of Order can be passed with appropriate clarification so that the parties may act upon the Minutes of Order and have the benefit of the same. This is so because once the Order of terms of Minutes is passed the entire dispute raised in the present petition will get adjusted. 3. In the circumstances mentioned aforesaid, the Minutes of Order dated 26.3.2009 are taken on record and the Order is being passed on it though learned Advocate for the respondent No.2 has not signed it. ORDER -3- i. There shall be an Order in terms of the Minutes of Order dated 26.3.2009. Keeping in view the terms of clause (3), the respondent No.2 is hereby directed to pay to respondent No.1 the amount covered by the letter of Credit irrespective of the various discrepancies which the respondent No.2 have raised, because the petitioners have agreed to waive all those discrepancies and submit to the terms of the letter accordingly. Accordingly, respondent No.2 is directed to pay to respondent No.1 the amount covered by the Letter of Credit within two days from today, preferably by Tuesday 31.3.2009. ii. The learned Counsel for the petitioners, upon instructions from his client makes a statement that within one month from delivery of the articles contained in the various containers at Dahej, State of Gujrat, the petitioner shall arrange to return the containers to the respondent No.3. In addition to the aforesaid statement the Counsel for the petitioner states that if there are some more containers which are remained to be delivered to the respondent No.3 they shall also be returned along with these containers. -4- iii. Arbitration petition stands disposed of in above terms with no Order as to costs. iv. The undertaking mentioned in the Minutes of Order given by the respective parties is accepted. v. Parties to act on the authenticated copy of this Minutes as well as the Copy of the Order duly authenticated by the P.A. of the Court. (R.Y.Ganoo, J.) (R.Y.Ganoo, J.) (R.Y.Ganoo, J.)