Tata Capital Limited vs. Surat Singh
Background
The petitioner had filed a Section 11 petition seeking appointment of an arbitrator for a dispute with the respondent. At the hearing, the petitioner's counsel informed the Court that the matter had since been settled between the parties.
Decision Breakdown
On this submission, the Court granted leave to withdraw the petition, and it was dismissed as withdrawn; no arbitrator was appointed and the underlying dispute was not adjudicated.
Lesson Learnt
Parties remain free to settle a commercial dispute directly even after initiating court proceedings for arbitrator appointment, and a simple withdrawal is available once a genuine settlement is reached.