1 ap166-11 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.166 OF 2011 1.Bajirao Yeshwant Pawar & Anr. ...Petitioners vs. Kotak Mahindra Bank Ltd. ...Respondent --- Mr.S.K.Jain i/b. M/s.S.K.Jain & Associates, for Petitioners. Ms.Aastah i/b. Mohit Gadkari for Respondent. --- CORAM: D.K.DESHMUKH, J. DATED: 7th July,2011. P.C.:- Admit. Heard finally by consent of parties. By consent of parties, the petition is disposed of in the following terms:- 1. On the petitioners depositing in this 2 ap166-11 Court an amount of Rs.5,00,000/- (Rupees Five lacs only) within a period of Twelve weeks from today with due intimation to the respondent, the Award impugned in the petition shall stand set aside. In case the amount is not deposited within the aforesaid period, the petition shall be treated as dismissed. 2. In case the amount is deposited, the respondent be permitted to withdraw the amount on filing an undertaking to bring back the amount on such terms and conditions as may be directed, either by the learned Arbitrator or by this Court, and on furnishing bank guarantee to the satisfaction of the Prothonotary & Sr.Master of this Court. 3. Shri.Nitin Chauhan, Chartered Accountant, having address at 69-11, Jivetesh Niwas, Tarun Bharat Society, Chakala, Andheri (E), Mumbai-99, is appointed as Arbitrator. The petitioners will 3 ap166-11 appear before the learned Arbitrator. The learned Arbitrator shall fix a date for appearance after the petitioners deposit the amount. The learned Arbitrator shall send all communications to the petitioner on the address of his Advocate who is appearing for them in this petition, and the service of communications on the learned Advocate shall be treated as service of communications on the petitioners. The learned Arbitrator, thereafter, shall proceed to make the Award in accordance with law. (D.K.DESHMUKH, J.) ---