Madras High CourtArb O.P(COM.DIV.)/37/2025disposed of

M/S.Mercedes Bank Fiancial Services India Pvt Ltd., v. Sreenivasulu Reddy Gangalpaudi

2025-04-02Honourable Mr Justice Abdul Quddhose2 pages

Arb.O.P.(Com.Div.)37 of 2025 and Arb.Appln.No.816 of 2024

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 02-04-2025

CORAM

THE HONOURABLE MR JUSTICE ABDUL QUDDHOSE Arb.O.P.(Com.Div.)No.37 of 2025 and Arb Appln No. 816 of 2024 Arb.O.P.(Com.Div.)No.37 of 2025 M/s. Mercedes -Benz Financial Services india Pvt.Ltd., (formerly known as M/s. Daimler Financial Services India Private Limited) 5th Floor, Plot 8, Baashyam Willow Square, 9 & 10, First Street, Thiru Vi Ka Industrial Estate, Guindy, Chennai - 600 032 Tamil Nadu, India represented by its Authorised Signatory

...Petitioner in Arb.O.P.

& Applicant in O.A.

Vs Sreenivasulu Reddy Gangalapudi, Proprietor of Aparna Automotives 4-10, Pallam Yerpedu, Chittoor, Andhra Pradesh - 571 620 Also at Sreenivasulu Reddy Gangalapudi, Aparna Automotives 91/51/15-A-5-6, Ner Hanuman Weigh Bridge, Rajeev Nagr, Kurnool, Andhra Prdesh - 518003 ..Respondent in Arb.O.P.

& Applicant in O.A.

For Petitioner: Mr.M.Arunachalam For Respondent: Mr.P.M.Bakthavatsalam https://www.mhc.tn.gov.in/judis

Arb.O.P.(Com.Div.)37 of 2025 and Arb.Appln.No.816 of 2024 ABDUL QUDDHOSE,J.

COMMON ORDER Both the parties have arrived at an amicable settlement. A Memorandum of Understanding/Settlement dated 02.04.2025 has been entered into between the parties to the dispute. The same has been signed by both the parties and it has been duly witnessed. In terms of the Memorandam of Understanding/Settlement dated 02.04.2025, Arbitration O.P.No.37 of 2025 and O.A.No.816 of 2024 are disposed of. The Memorandum of Understanding /Settlement dated 02.04.2025 shall form part of this order. As agreed upon, in case, the respondent commits default in the repayment of the dues as per the Memorandum of Understanding/ Settlement, the petitioner is granted liberty to file a fresh application under Section 11 of the Arbitration and Conciliation Act seeking for appointment of an Arbitrator by this Court. 02.04.2025 vsi Arb.O.P.(Com.Div.)No.37 of 2025 and Arb Appln No. 816 of 2024 https://www.mhc.tn.gov.in/judis