IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.221 OF 2009 Nisa Industrial Services Pvt Ltd. ..Petitioner Vs. Royal Palms (India) Pvt Ltd. ..Respondents Ms. Renuka Lele i/b M/s. Haresh Mehta & Co. for the Petitioner Mr. Mohan A. Dharmaraj for the Respondents CORAM: DR. D.Y. CHANDRACHUD, J. DATE: 9th December , 2009 P.C. : At the hearing of the Company Petition, Counsel appearing on behalf of the Petitioner and Counsel appearing on behalf of the Respondents are agreed that the following order may be passed by consent of the parties without any further recording of reasons: 1. The claim which forms the subject matter of the Company Petition for winding up, is referred to Arbitration by Shri Snehal Shah, Advocate, who shall act as a Sole Arbitrator under the Arbitration and Conciliation Act, 1996; 2. The Respondent, Royal Palms (India) Pvt Ltd., agrees to pay to the Petitioner the admitted amount of Rs.12,50,000/- on or before 30th December 2009; 3. The Respondent agrees to furnish a Bank Guarantee of a Nationalised Bank, in the amount of the Rs.15 lacs to the satisfaction of the Prothonotary and Senior Master, which shall be kept alive during the pendency of the arbitral proceedings for a period of eight weeks, after the making of the Award; 4. All the rights and contentions of the parties are kept open to be urged before the Arbitrator in the arbitral proceedings; 5. The Company Petition shall accordingly stand disposed of since no other point has been pressed. (Dr. D.Y.Chandrachud, J)