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Madras High CourtOP/237/2021disposed of

Mr.K.Padmaraj, v. M/S.Apna Finance (India) Ltd

2023-08-22Honourable Mr Justice Abdul Quddhose4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 22.08.2023

CORAM

THE HONOURABLE MR.JUSTICE ABDUL QUDDHOSE O.P.No.237 of 2021 and A.No.1027 of 2021 1.Mr.K.Padmaraj 2.Ms.P.Rajalakshmi ..

Petitioners -vs1.M/s.APNA Finance (India) limited, No.1, Mangappan Street, Sowcarpet, Chennai - 79.

2.Mr.D.Hariharan ..

Respondents Petition under Section 34 of the Arbitration and Conciliation Act, 1996, has been filed seeking to set aside the arbitral award dated 07.06.2006 passed by the second respondent in Case No.AFL-114. For Petitioners : Mr.S.Ramajayam For R1 : Ms.C.Harini for M/s.Gopalan Associates For R2 : No Appearance

ORDER

Both the counsels, on instructions, have made an endorsement in the Court bundle as follows:- "We have settled entire amount for full and final settlement and award may be set aside and thus render justice."

2. When the matter was taken up on 09.08.2023, the learned counsel for the first respondent, on instructions, agreed to receive a sum of Rs.90,000/- from the petitioners towards full and final settlement of the claim.

3. Today, on instructions, the learned counsel for the petitioners would submit that a sum of Rs.20,000/- has been paid by the petitioners to the first respondent by way of cash, which is also acknowledged by the first respondent. He would further submit that in respect of the remaining amount of Rs.70,000/- payable by the petitioners towards full and final settlement, the first respondent may be permitted to withdraw the said sum of Rs.70,000/- lying to the credit of this OP.

4. In terms of the endorsement made by both the counsels, this petition is disposed of by directing the Registry to issue a cheque in favour of the first respondent for a sum of Rs.70,000/- with accrued interest after deducting necessary charges as per the Rules, within a period of two weeks from the date of receipt of a copy of this order. No Costs. Consequently, connected Application No.1027 of 2021 is closed. 22.08.2023 rkm

ABDUL QUDDHOSE, J.

rkm O.P.No.237 of 2021 and A.No.1027 of 2021 22.08.2023