1 W.P.(L) No.639/10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (LODGING) NO. 639 OF 2010 Mr. Ramesh Sakharam Padwal and others ).. Petitioners Versus The State of Maharashtra and another ).. Respondents Mr. A.M. Saraogi for the Petitioners. Mr. Saikumar Pathrudu for Respondent No.2. CORAM : MOHIT S. SHAH, C.J. AND S.C. DHARMADHIKARI, J. DATED : 14TH JULY 2010 P.C. The challenge in this Writ Petition under Article 226 of the Constitution of India is to the Award dated 3rd August 2009 passed by the Arbitrator under Section 64 of the Chits Funds Money (Circulation & Banning) Act, 1982 and also the order dated 12th March 2010 passed by the appellate authority. 2. The petitioners before this Court are the original opponents whereas respondent No.2 is the original disputant. 3. The Award directs the petitioners to jointly or severally pay a sum of Rs.2,65,403/- and interest of Rs.14,533/- to respondent No.2. 4. The parties have met and mutually agreed to resolve the disputes. It is agreed by parties that the petitioners would pay the sum of Rs.2,25,000/- which would be accepted in full and final settlement of the 2 W.P.(L) No.639/10 Award provided it is paid in the manner set out in clause (2) of the consent terms. After the amount is paid and accepted as above, the 2nd respondent will issue a no objection certificate. After receipt of such an amount, 2nd respondent will withdraw all execution applications filed against the petitioners. 5. The consent terms are duly signed by the petitioners and their advocate so also the 2nd respondent. The concerned advocates inform us that the terms have been explained to the parties with all their implications and consequences. The 2nd respondent is a company and the terms have been signed by the duly authorized signatory. In these circumstances, we see no impediment in taking the consent terms on record and passing an order in furtherance thereof. We are satisfied that the consent terms fully resolve and settle the disputes arising out of the Award in question. 6. The consent terms are taken on record and marked “X” for identification. The Writ Petition is disposed of with consent of parties in terms of the same. There shall be no order as to costs. CHIEF JUSTICE S.C.DHARMADHIKARI, J.