IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 224 OF 2008 ARBITRATION PETITION NO. 224 OF 2008 ARBITRATION PETITION NO. 224 OF 2008 M/s.Souma Resorts Private Limited ...Petitioner V/s. Mr.Yakuk Salehbhai Contractor & Ors. ...Respondents Mr.Arif Bookwala alongwith Ms.Jyoti Singh and Mr.A. Singh i/b. M/s.Dhir & Dhir Associates for the Petitioner. Mr.D.D. Madon i/b. M/s.Mahesh Memon and Co. for the Respondents. CORAM : V.M. KANADE, J. CORAM : V.M. KANADE, J. CORAM : V.M. KANADE, J. DATED : JULY 8, 2008 DATED : JULY 8, 2008 DATED : JULY 8, 2008 P.C. :- P.C. :- P.C. :- 1. Learned Counsel appearing for the petitioner submits that in view of the statements made by the respondent in para 5 of the affidavit-in-reply and para 15 of the affidavit-in-surrejoinder filed by respondent no.2, he does not want to press the petition. He submits that in para 5 in the affidavit-in-reply dated 2nd April, 2008 filed by respondent no.2, it is stated as under :- "I say that even if the Petitioner initiates arbitration proceedings against the respondents, - 2 - the petitioner will have no claim on the Respondents, particularly since the said shares have been allotted to the Petitioner and the Petitioner’s Directors/nominees as aforestated." . Similarly, in the surrejoinder in para 15, it is stated as under :- "I say that the Petitioner has been issued shares in respect of the investment made by the Petitioner in the said Company and therefore are well secured." 2. He submits that in view of the statements made, he wishes to withdraw the Arbitration Petition. 3. Mr.Madon, learned Counsel appearing for the respondents submits that the statements cannot be held in isolation and have to be read in the context in which they are made. 4. In any case, the petitioner wishes to withdraw - 3 - the petition in view of the statements made. The petition is allowed to be withdrawn. The petitioner is at liberty to take out appropriate proceedings. This is without prejudice to the rights and contentions of both the parties. (V.M. KANADE, J.) (V.M. KANADE, J.) (V.M. KANADE, J.)