Madras High CourtOA/1054/2017disposed of in memo of compromise

M/S.Abb India L v. M/S.Kvk Nilachal Power P L

2017-10-25Honourable Dr Justice Anita Sumanth2 pages

/ 1 /

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) WEDNESDAY, THE 25TH DAY OF OCTOBER 2017 THE HON'BLE MR. JUSTICE ANITA SUMANTH O.A. No.1054 of 2017 In the matter of Arbitration and Conciliation Act, 1996 And In the matter of the Letter of intent dated 22.12.2011 and Agreement dated 10.09.2015.

M/s.ABB India Limited, Represented by its authorized signatory Mr.Sridhar Thiagarajan, 21, World Gateway No.1, 26/1, Rajkumar Road, Malleswaram West, Bangalore-560 001.

...Applicant -Versus1.M/s.KVK Nilachal Power (P) Ltd., 6-3-1109/A/1,2,Second Floor, Navabharath Chambers, Raj Bhavan Road, SomajiGuda, Hyderabad-500 082.

2.M/s.EDAC Engineering Limited, Represented by its Managing Director, R.Varadharajan, SPIC House, 88, Mount Road, Chennai-600 032.

3.M/s.Axis Bank Limited, II Floor, Exprees Building, No.1, Greams Road, Bangalore-560 001.

... Respondents Original Application praying that this Hon'ble Court be pleased to pass or issue an order of ad-interim injunction restraining the 1st Respondent or its men or

/ 2 / servant or its representatives or any person claiming through them from invoking or encashing or receiving any monies under the Bank Guarantee bearing No.15410100000363 dated 30.12.2011, for a sum of Rs.6,00,00,000/- (Six Crores Only) periodically extended, issued by the 3rd Respondent until disposal of arbitral proceedings and pass such or other orders as this Hon'ble Court may deem fit in the circumstances of the case.

These Original Applications coming on this day before this court for hearing the court made the following order:

Mr.P.J.Rishkesh, learned counsel for the applicant and Mr.Elambharathi, learned counsel for the first respondent would circulate a copy of the minutes of the meeting held on 24.10.2017 at Hyderabad bearing Ref: KNPL -01, duly signed by all three parties, based on which, disputes inter se the parties stand settled.

2.Recording the same, the application stands closed. The aforesaid minutes are made part of this order. Sd/-A.S.M.J 25.10.2017 //Certified to be a true copy// Dated this the th day of 2017. EM/30/10/2017 COURT OFFICER From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.