1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.720 OF 2009 Essel Sports Pvt. Ltd. ....Petitioner V/s. Rashmi Housing pvt. Ltd. ....Respondent Mr.Gautam Ankad with Ms.A. Usman and Mr.Gautam Tiwari i/b ALMT Legal for the Petitioner. Mr.D.H. Mehta with Mr.Kulkarni i/b Bejai & Co. for the Respondent. CORAM : S.J. VAZIFDAR, J. DATE : 2ND JULY, 2010. P.C. :- 1. The disputes and differences between the parties are pending before the learned Arbitrator. Both the counsel state that about four witnesses have been examined on behalf of the Petitioner. This by itself would not render the petition liable for dismissal. 2. However, the learned counsel are agreed to the following order :- i). The Respondent company has identified four flats, particulars whereof have been tendered in Court, were taken on record and marked “X” pursuant to the order dated 18.6.2010. Mr.Mehta, the learned counsel appearing on behalf of the Respondent undertakes not to dispose of, alienate, transfer, encumber, part with possession of or create any third party rights, title and/or interest in respect of the four flats except giving the 2 same out on leave and licence basis for the period not exceeding two years at a time. The leave and licence agreement shall contain a clause inviting the licensee’s attention to this order, to the arbitration proceedings as well as the licensee’s agreement to vacate and hand over possession of the said flats, if so required either by the Arbitrator or by this Court or by any other Court or authority. ii). It is clarified not as a matter of form but as a matter of substance that in view of the above statement, I have not considered this matter on merits at all. All the rights of the parties are kept open. 3. The company petition is accordingly disposed of.