The present arbitration petition filed under the relevant provisions was taken up before the Delhi High Court, where learned counsel for both parties jointly submitted that their underlying disputes had been amicably resolved through a settlement agreement placed on record. In light of the mutual settlement, the petitioner sought permission to withdraw the petition. Consequently, Justice Om Prakash Shukla dismissed the petition as withdrawn, while explicitly directing that both parties remain bound by the terms and conditions outlined in their settlement agreement.
- Joint Submission on Settlement: Learned counsel appearing for both the petitioner and the respondent jointly informed the Court that they had successfully resolved their disputes amicably.
- Placement of Settlement Agreement: The formal settlement agreement arrived at between the parties was duly brought on record.
- Withdrawal of Petition: Following the amicable resolution, the petitioner’s counsel sought and was granted permission to withdraw the arbitration petition.
- Judicial Order: The High Court dismissed the petition as withdrawn and ordered that both parties shall remain strictly bound by all terms and conditions stipulated in the settlement agreement.



