National Highways and Infrastructure Development Corporation Limited vs. Gayatri Projects Ltd.
Background
The petitioner (a highways infrastructure corporation) had filed a commercial petition against the respondent contractor. At the hearing, counsel for the petitioner informed the Court that the underlying dispute had been settled between the parties.
Decision Breakdown
Since the matter had been settled and the respondent's counsel raised no objection, the Court permitted withdrawal of the petition. It was dismissed as withdrawn, and the pending application was also disposed of.
Lesson Learnt
When commercial parties settle their dispute outside court, they can simply withdraw pending litigation rather than proceeding to a contested judgment: a quick and common resolution for settled commercial disputes.