1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. ARBITRATION PETITION NO.382 OF 2007 Hathway Cable & Datacom Private Limited and another ..Petitioners. Vs. M/s. Shravan Cable Network and others ..Respondents. .... Mr. Dinyar D. Madon, Senior Advocate with Mr. H.N. Thakore and Ms. A. Baradia i/b Thakore Jariwala & Associates for the Petitioners. Mr. Gerald Vastelino with Mr. Shetty Gunakar i/b M/s. Madhav Associates for the Respondents. .... CORAM: DR. D.Y. CHANDRACHUD, J. 7th March, 2008. P.C. : At the hearing of the Arbitration Petition which has been instituted under Section 9 of the Arbitration and Conciliation Act, 1996, the learned counsel appearing for the Petitioners and Respondents have agreed that all the differences and disputes between the parties may be referred to the arbitration of the Hon'ble Shri Justice Jagannatha Shetty, Former Judge of the Supreme Court of India. The learned counsel have informed the Court that the Learned Arbitrator has formally accepted his nomination. Parties have agreed that the venue of the arbitration 2 shall be Bangalore. Parties are agreed that for a period of sixty days from today, they shall attempt to resolve the dispute amicably in terms of the provisions of Clause 25.1 of the Shareholders' agreement. Though the clause stipulates negotiations in the first instance for a period of thirty days, parties have agreed to an extension of the period in the aforesaid terms. The Court has also been informed that in the event that parties resolve the dispute amicably, they shall jointly apply before the Learned Sole Arbitrator for a consent award. Should the negotiations not result in an amicable solution, parties have agreed then to proceed with the reference to arbitration. In the meantime, pending the disposal of the arbitration proceedings, counsel appearing for the Respondents has stated that the Respondents have not breached the non- compete clause of the Shareholders' agreement, the Non- competition agreement and the Business Transfer agreement and that the status quo in that respect shall continue to be maintained. On behalf of the Petitioners it has been stated that there will be no objection to the Respondents drawing a signal from Petitioner No.2 and carrying on business on that basis as cable operator. 3 The Petition shall stand disposed of in the aforesaid terms since no point on merits has been pressed in view of the reference to arbitration. *****