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Judgment
P.N. Ravindran, J.—The Petitioners are guarantors to a loan availed by the 4thRespondent from the 3rd Respondent Bank. When the loan was notrepaid the Bank initiated arbitration proceedings, whichculminated in Ext.P1 award dated 11.12.2007. Even after theaward was passed the Petitioners and the 4th Respondent did notsatisfy the award. In such circumstances the Bank issued Ext.P5demand notice calling upon the Petitioners to pay the sum ofRs.20,27,172/-. The instant writ petition was thereupon filedchallenging Ext.P1 award and seeking consequential reliefs.
When the writ petition came up for hearing today Sri.P.V. Surendranath, learned standing counsel appearing for the 3rd Respondent Bank, submitted that the principal debtor, the 4th Respondent, has paid the entire amounts due under Ext.P1 award and that the Bank will therefore, not enforce the award against the Petitioners.
In the light of the said submission the Petitioners cannot W.P(C). No. 35190 of 2010 -:2: have any subsisting grievance. The writ petition is accordingly closed recording the submission made on behalf of the 3rd Respondent Bank that Ext.P1 award has been satisfied.