IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Civil Writ Petition No. 5369 of 2010 Date of decision: 25.04.2011 Girnar Fibres Limited ...Petitioner Versus Industrial Finance Corporation of India and another ...Respondent CORAM: HON'BLE MR. JUSTICE RANJIT SINGH Present: Mr. Puneet Bali, Advocate for the petitioner. Mr. Manish Jain, Advocate for respondent No. 1. Mr. Akshay Bhan, Advocate and Mr. C.S. Pasricha, Advocate for respondent No. 2. RANJIT SINGH J. Counsel for the petitioner today seeks permission to withdraw this writ petition to avail his alternative remedy of filing the civil suit. Simultaneously, counsel also requests that the interim protection may be continued for some time to enable the petitioner to prepare and file the civil suit. The prayer of the petitioner is not opposed by the counsel for the respondents. However, counsel for respondent No. 2 points out that the petitioner has an alternative remedy of invoking arbitration clause and his right to object the filing of civil suit on the ground may be kept open. Since the counsel for the petitioner has prayed for permission to withdraw this writ petition to avail his alternative remedy of filing the civil suit, the prayer is allowed. This shall be Civil Writ Petition No. 5369 of 2010 -2- subject to right of respondents to object to the filing of civil suit on the ground that the arbitration clause is available. The interim order passed in favour of the petitioner shall enure for two weeks from today. This shall, however, not have any bearing or an influence on the court or the Arbitrator to consider the prayer of the petitioner for grant of interim relief. The stay application, if filed, would be decided on its own merits. Dismissed as withdrawn as prayed for. April 25, 2011 (RANJIT SINGH ) rts JUDGE