TaxTMI 
TaxTMI 
2025 (5) TMI 1445
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....ssed by the High Court of Judicature at Bombay dated 06th March, 2023 in Arbitration Petition No. 140 of 2022 by which the arbitration application filed by the petitioner herein under Section 11 of the Arbitration and Conciliation Act, 1996 came to be rejected. 2. On 3 March, 2025 this Court passed the following order:- "The petitioner herein is the licensor and the respondent a licensee. There is an agreement between the parties dated 10.09.2013. The leave and license agreement was for a period of 36 months i.e. from 15.10.2013 to 14.10.2016. The same has been renewed periodically. It is not in dispute that in accordance with the terms of the agreement the licensee has to hand over the possession of the premises on or before 14....
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.... the view, more particularly, having regard to the reasons assigned by the High Court while rejecting Section 11 petition, that the petitioner licensor may consider to accept the amount of Rs.2.59 crore as offered by the respondent licensee and put an end to this litigation for the present. We shall see to it that this amount of Rs.2.59 crore is paid to the petitioner within a period of four months from today. At this stage, the learned counsel appearing of the petitioner submitted that she will have to speak to her client in this regard. 5. Let instruction be taken accordingly. The matter to come up on 17.03.2025." 3. We are happy to note that the parties paid heed to our suggestion to resolve the dispute amicably. The dispute ....
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....nly) as detailed in serial no. 7 in the block hereunder. SR. NO. CHEQUE NO. BANK AMOUNT DATE 1 287552 Bank of India, Panvel Branch Rs. 50,00,000/- 03/04/2025 2 287553 Bank of India, Panvel Branch Rs. 50,00,000/- 03/05/2025 3 287554 Bank of India, Panvel Branch Rs. 50,00,000/- 03/06/2025 4 287555 Bank of India, Panvel Branch Rs. 50,00,000/- 03/07/2025 5 287556 Bank of India, Panvel Branch Rs. 50,00,000/- 03/08/2025 6 287557 Bank of India, Panvel Branch Rs. 50,00,000/- 03/09/2025 7 287558 Bank of India, Panvel Branch Rs. 33,60,000/- 03/10/2025 3) The Respondent through its Director Dr. Subhash Singh undertakes to th....
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....m April 2025 to 14th October, 2028 on payment of Rs. 3,30,000/- (Rupees Three Lakhs Thirty Thousand Only) plus GST per month towards the license fee/ compensation of the aforementioned licensed premises commencing from 1st April, 2025 to 14th October, 2028 payable by the Respondent on or before 15th of each succeeding month, without any default. 7) The Respondent through its Director Dr. Subhash Singh undertake and give an unequivocal undertaking to this Hon'ble Court that the Respondent shall without any default pay the license fees/ compensations of Rs. 3,30,000/- (Rupees Three Lakhs Thirty Thousand Only) plus GST per month to the Petitioners in respect of the said licensed premises aforementioned without any default on or before....
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.... per the valuation report (on or before 14th October 2028). If the parties are unable to agree on the appointment of a valuer, resulting in a stalemate, the parties shall be at liberty to move this Hon'ble Court for the limited purpose of appointment of such valuer for determining the fair market value of the amenities, fixtures, improvements and infrastructure installed/made by the Respondent at its own cost in the building 'Doctor House'. Notwithstanding any such application, the Respondent shall vacate the premises on or before 14th October 2028. 10) The Petitioner hereby gives its 'No Objection' for the Respondents to renew their hospital registration/ license relating to the eastern side of the said 'Doctor House' and the comp....