Arb. Appeal No. 15 of 2010 26.12.2011 Present: Mr. K.D. Shreedhar, Senor Advocate, with Mr. Rajnish Maniktala, counsel for the appellant. Mr. Paras Doger, counsel for respondent No. 1. Mr. Vishal Panwar, counsel for respondents No. 3 & 8. Mr. Vikrant Thakur, counsel for respondents No. 5 & 6. CMP No. 525 of 2011 Heard learned counsel for the parties. This application has been placed before us indicating settlement between the parties with a prayer for passing appropriate order. It appears, the dispute raised between the parties and the matter was referred to the Arbitrator. Award was passed in favour of the respondent. The award was challenged before the learned Single Judge. However, the application under Section 34 of the Arbitration and Conciliation Act was dismissed. Being aggrieved, the appellant preferred an Arbitration Appeal, namely Arbitration Appeal No. 15 of 2010. During the pendency of the appeal, as per legal advise, the parties have entered into settlement out of Court. The appellant had deposited a total amount of Rs. 32,54,875/- in the Registry of this Court at the time of filing of the appeal, whereas the parties have agreed for Rs. 23,16,750/- to be paid to the respondent towards full and final settlement for claim. As such, the amount as per agreement has to be paid to the respondent and the remaining amount deposited in the Registry has to be returned to the appellant alongwith interest accrued thereon. The parties are to abide by the text and contents of the application, so submitted which is directed to be treated as a part of this order. In terms of the averments made in the application and in view of the above observations, the application is allowed. As prayed by learned counsel for respondent No. 1, an amount of Rs. 23,16,750/- is to be remitted to the respondent through his Account No. 11038720718, in State Bank of India, Bhuntar, District Kullu, H.P. On the appellants furnishing Account Number and the name of the bank, the Registry shall remit the remaining amount, as indicated above, to the appellant also. In view of the above, the application i.e. CMP No. 525 of 2011 is allowed and the Arbitration Appeal stands disposed of. ( R.B. Misra ),J. December 26, 2011(K) (Sanjay Karol.), J.