Daily Status
Special Courts for Trial and Disposal of Commercial Disputes, Andhra Pradesh
Case No : COP - 30/2024
Diary No : 3653605000532024
G S Concrete Equipments VS Elite Engineering & Construction Private Limited
Listing Date : 03/09/2024
Date 03/09/2024   Court No. 1
Proceedings Summery The learned counsel for the petitioner filed a memo to withdraw the present COP.No.30/24 stating that the parties have decided amicably to resolve the disputes which certain terms and conditions and the respondent No.1 agreed to pay Rs.70,00,000/- to the petitioner immediately after withdrawal of the present COP and prayed to withdraw the present COP without prejudice to the rights and remedies available to the petitioner. Notice of this memo served upon the respondent No.1 counsel. The learned counsel for the respondent No.1 endorsed no objection to withdraw on the present COP. Heard both sides and perused the record. The present COP 30/24 is filed under Section 9 of the Arbitration and conciliation Act,1996 with a prayer to direct the respondent No.2 to withhold an amount of Rs.1,14,82,020/- payable to the respondent No.1 and to the deposit the same into the court or direct the respondent No.1 to furnish to security. The petitioner herein filed memo stating that the respondent No.1 agreed to pay Rs.70,00,000/- in-terms of the oral settlement. Having considering the same the COP.No.30/24 is dismissed as withdrawn and the aforesaid amount is not paid by the respondent No.1, the petitioner is at liberty to avail the remedies in accordance with law. Stage Of Case For Hearing