- 1 - 20.arbp.597.11 skt IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.597 OF 2011 L & T Finance Limited ..Petitioner -Versus- CREMA Ltd. (earlier known as Clinical Research Education and Management Academy Ltd.) & Anr. ..Respondents .......... Ms.Shakuntala Joshi i/b M/s.S.I.Joshi & Co. for the Petitioner. Mr.Prashant Gavai i/b Diwakar R. Singh for Respondent No.1. .......... CORAM : S.J. VAZIFDAR, J. DATE : 25TH JULY 2011. P.C. 1 This is a petition under section 9 of the Arbitration and Conciliation Act, 1996. 2 According to the petitioner, an amount about Rs.21,00,000/- is due and payable by the respondents to the petitioner in respect of the loan transaction. The learned counsel appearing on behalf of the respondents states the respondents admit the claim and that they desire to pay the same within a period of two weeks from today. - 2 - 20.arbp.597.11 3 The petition is, therefore, disposed of by the following order : (i) The statement made on behalf of the respondents to pay an amount of Rs.20,86,057.05 on or before 22nd August 2011 is accepted. (ii) In the event of the amount being paid as aforesaid, the petitioner agrees to accept the same as full and final satisfaction against all its dues against the respondents. (iii) In the event of the amount not being paid as aforesaid, order in terms of prayers (a), (c) and (d) except the words bracketed in red in the prayers. -