The Sharjah court hearing the case said today that it will receive pardon papers for the convicts next week.
"The Honourable Judge Abdullah Al Shamsi took note of this important development and ruled that the Court would now convene on 27th July to receive the pardon papers and meet other formalities," a statement from the Consulate General of India in Dubai said.
On March 18, 2010 the Sharjah Court of First Instance pronounced the death sentence on 17 Indian nationals, who were accused of killing Masri Khan in January 2009.
Khan was killed in a turf war over illegal liquor trade. Three others were injured in the fight.
Today's hearing was the 15th hearing in the case. S P Singh Oberoi, Founder President of the Indian Punjabi Society, who has offered to pay the blood money, said a letter has been produced in the court to confirm that an off-the-court settlement has been reached.
"I have handed over a letter that says a sum of Pakistani Rupees 8 crore will be paid and they are ready to pardon the Indian convicts in return.
"I have already paid a sum of Pakistani Rupees 1 crore during a previous hearing. The remaining amount will be paid before 27th July when the judgement will be pronounced," Oberoi told PTI.