1 1.nms-2313-11 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION jmi NOTICE OF MOTION NO. 2313 OF 2011 IN ARBITRATION PETITION (L) NO. 649 OF 2011. Sandeep L. Joshi. ..Petitioner. vs. M/s. Kotak Mahindra Prime Limited & Ors. ..Respondents. .... Mr. S.S. Lanke, i/b. Daksha M. Shah, for Petitioner. Mr. Ramakant Yadav, for Respondent No.1. .... CORAM : S.J. KATHAWALLA, J. DATE : 19TH OCTOBER 2011. P.C. : By the above Arbitration Petition, the Petitioner seeks setting aside of the Award dated 26th February 2010 under section 34 of the Arbitration and Conciliation Act, 1996. The Petitioner has also taken out a Notice of Motion seeking condonation of delay, if any, in filing the above Arbitration Petition. According to the Petitioner, though the Award is dated 26th February 2010, he was served with a copy of the same on 23rd May 2010 and the Arbitration Petition is filed by him on 26th June 2011. The learned Advocate for the Respondent No. 1 submitted that the Award was served on the Petitioner in the year 2010 itself. However, parties have agreed to the following order by consent : (i) The Petitioner shall pay an amount of Rs.2,53,467/- to the Respondent No.1 on or before 28th December 2011. (ii) The Execution Proceedings initiated by the Respondent No. 2 1.nms-2313-11 1 against the Petitioner shall be stayed upto 28th December 2011. However, the attachment levied shall continue. (iii) In the event of the Petitioner failing to pay the amount as agreed in clause (i) above, the Respondent No. 1 shall be entitled to execute and recover the entire amount awarded by the sole Arbitrator to the Respondent No. 1. (iv) The Arbitration Petition as well as the Notice of Motion accordingly stand disposed of. [ S.J. KATHAWALLA, J. ]