Authority: High Court of Judicature at Bombay, Commercial Division
Order Date: 11 September 2026
Case Overview
- Petition: Commercial Arbitration Petition No. 362 of 2026 filed by Madras Regional Purchase Unit (Petitioner) against Visual Education Aids Pvt Ltd (Respondent).
- Interim Applications: No. 5957 of 2025 and No. 7937 of 2025; the latter was initially not on board but later taken on board by consent of parties.
- Parties appeared before the Court: Dr. Satish Kumar Velaga, Scientific Officer‑G, Head, RHEDS, Reprocessing Group, IGCAR (representing the Petitioner) and Mr. J Ravi, Director of the Respondent, along with counsel Ms. Smita Thakur (Petitioner) and Mr. Anshul Anjarlekar (Respondent).
- The parties submitted that they had amicably resolved the dispute and executed comprehensive Consent Terms, which were voluntarily signed without coercion.
- The Court recorded the Consent Terms, marked them “X”, and accepted the undertakings therein.
Final Outcome
- The Petition is allowed in accordance with the Consent Terms; the Commercial Arbitration Petition is disposed.
- The Court directed that the amount of Rs.8,42,89,449 deposited by the Petitioner on 6 May 2025, together with accrued interest, be paid to the Petitioner upon proper identification and in accordance with law.
- All interim applications are disposed, and court fees are to be refunded as per the applicable Rules.
Topics: Arbitration Settlement, Court Order