IIFL Finance Withdraws Arbitration Application

Authority: High Court of Judicature at Bombay

Order Date: 23 September 2026

Case Overview

• Applicant: IIFL Finance Limited; Respondent: R K Diagnostic Services Pvt Ltd.
• Arbitration Application No. 425 of 2026 was filed in the Bombay High Court.
• Counsel for the applicant, Ms. Priya Nigwekar (a/w Ms. Pallavi Chari), sought permission to withdraw the application with liberty to file an appropriate application permissible under law.
• Counsel for the respondent, Mr. Pralhad Paranjape (a/w Ms. Shubhra Swami, Mr. Rahul Punjabi, Ms. Vaishnavi Bansfore), opposed the withdrawal.

Final Outcome

• Justice Amit Borkar ordered the arbitration application withdrawn with liberty as prayed.
• The court directed that appropriate proceedings be filed, expressly excluding proceedings under Section 11.

Topics: Arbitration Withdrawal, Court Order