TECPRO SYSTEMS LIMITED Vs. BHARAT HEAVY ELECTRICALS LIMITED

JUDGEMENT

(1.) At the outset learned counsel for the petitioner states that there is an arbitration proceeding pending between the parties as is evident from a bare reading of para 5 of the reply to the demand notice in respect of alleged unpaid operational debt.

(2.) The aforesaid para 5 of the demand notice reads as under:-

(3.) In view of the above, learned counsel has applied for withdrawal of the petition. We ordered accordingly. Consequently, the petition is dismissed as withdrawn.