K. Arumugam v. M/S. Venkatesh And Co., Represented By K.Venkatesh,
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated: 21/10/2021 C O R A M THE HONOURABLE MR.JUSTICE N. SATHISH KUMAR O.P. Nos. 392 of 2005 and 370 of 2007 O.P.No.392 of 2005 K. Arumugam ...
Petitioner Vs
1. M/s. Venkatesh & Co rep. By Mr.K.Venkatesh 98 A Kovai Road Karur 2.
2. M/s. Anush Shares and Securities Pvt Ltd No.59, I Floor Greenways Road Chennai.
3. Mr.K. Ramanujam Sole Arbitrator National Stock Exchange of India Ltd 7th Floor Arihant Nitco Park 90 Dr. Radhakrishnan Salai Mylapore Chennai 700 004.
...
Respondents Page No:1/6
a n d Arb.O.P.370 of 2007 Venkatesh & Co ...
Petitioner Vs
1. K. Arumugham
2. M/s. Anush Shares and Securities Pvt Ltd
3. K. Ramanujam ...
Respondents PRAYER in O.P.No.392 of 2005: Petition filed under Section 34 of Arbitration and Conciliation Act, 1996, to set aside the order passed by the third respondent in Review Application dated 21/6/2004 by directing the first respondent to deliver 4250 shares of Karur Vysya Bank to the applicant. PRAYER in O.P.No.370 of 2007: Petition filed under Section 34 of Arbitration and Conciliation Act, 1996, to set aside the award dated 18/4/2004.
For Petitioner ...
Mr.T.Mohan (O.P.No.392 of 2005) For respondents ...
Mr.M.S.Krishnan (O.P.No.392 of 2005) Senior Counsel Page No:2/6
for M/s. Sarvabhauman Associates for R.1 For petitioner ...
Mr.M.S.Krishnan (O.P.No.370 of 2007) Senior Counsel for M/s. Sarvabhauman Associates for R.1 For respondent ...
Mr.C.T.Mohan (O.P.No.370 of 2007) - - - - - C O M M O N O R D E R Original Petition No.392 of 2005 has been filed to set aside the order passed by the third respondent in Review Application dated 21/6/2004 by directing the first respondent to deliver 4250 shares of Karur Vysya Bank to the applicant.
2. Original Petition No.370 of 2007 has been filed to set aside the award dated 18/4/2004.
3. Heard the learned counsel appearing on either side. Page No:3/6
4. Today, when the matters are taken up for hearing, Mr.C.T.Mohan, learned counsel for the petitioner in O.P.No.392 of 2005, produced a Joint Memo of Compromise, dated 21st October 2021, wherein it is stated that matter has been settled between the parties. It is agreed that the first respondent in O.P.No.392 of 2005 (M/s. Venkatesh & Co) shall pay a sum of Rs.10,00,000/- (Rupees Ten lakhs only) to the petitioner in O.P.No.392 of 2005 (Mr.Arumugam) as full and final settlement of all the claims between both of them, within a period of one month.
5. It is further stated in the Joint Memo of Compromise that the petitioner in O.P.No.370 of 2007 (M/s.Venkatesh & Co) shall be entitled to withdraw the amount deposited by him with National Stock Exchange for paying the aforesaid sum of Rs.10,00,000/- towards full and final settlement to Mr.Arumugam. Petitioner in O.P.No.392 of 2005 Mr.Arumugam shall withdraw the petition in Crl.R.C(MD) No.139 of 2017, pending on the file of Madurai Bench of Madras High Court. In view of the settlement reached between that parties, National Stock Exchange shall realise the funds deposited in this regard to the petitioner in O.P.No.370 of 2007. Page No:4/6
6. It is further stated that in the Joint Memo of Compromise that after the payment of Rs.10,00,000/- towards full and final settlement by M/s. Venkatesh & Co to Mr.Arumugam, both the parties shall not have any right or claim against each other.
7. In view of the settlement arrived at between the parties, these Original Petitions are disposed of. Joint Memo of Compromise shall form part of the records.
21/10/2021 Index : Yes / No Internet: Yes Speaking/non speaking order mvs.
Page No:5/6
N. SATHISH KUMAR, J mvs.
O.P. Nos. 392 of 2005 and 370 of 2007 Page No:6/6
21/10/2021 Page No:7/6