M/S. Essar Shipping Limited, v. Poompuhar Shipping Corporation Ltd.,

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 30.04.2024 CORAM :

THE HONOURABLE MR.JUSTICE KRISHNAN RAMASAMY M/s.Essar Shipping Limited, (Formerly Known as M/s.Essar Shipping Ports and Logistics Limited) Rep. by its Authorised Representative, Ranjith Singh "Essar House"

11, Keshavrao Khadye Marg, Mahalaxmi, Mumbai 400 034.

... Decree Holder/Claimant ..Vs..

Poompuhar Shipping Corporation Ltd., No.692 (Old No.473), Anna Salai, 4th Floor, Nandanam, Chennai- 600 035.

... Judgement Debtor/Respondent Prayer: Execution Petition is filed under Order XXIX of the Madras High Court Original Side Rules, 1956, praying to issue a Warrant of Arrest and Detention of Prison of the Judgment-Debtor under Order XXI Rule 37 r/w Section 55 of Cr.P.C, 1908 for such period as determined fit and necessary by this Court. 1/4

For Petitioner : Mr.P.T.Geotom For Respondent : Mr.A.Edwin Prabakar ***

O R D E R

Today, when this matter is taken up for hearing, the learned counsel for the petitioner submits that the matter has been settled out of Court amicably between the parties and nothing survives for further adjudication. He has filed a Joint Memo dated 20.01.2024, which has been signed by both counsel to that effect, which is extracted hereunder:

"1. It is respectfully submitted that the above Execution Petition was filed by the Decree Holder to execute the arbitral award dated 29.12.2009.

2. It is respectfully submitted that the Decree Holder and the officials of the Judgment Debtor met on 07.02.2024 to negotiate an amicable settlement. 3.It is respectfully submitted that the parties arrived at a settlement amount of Rs.1,80,00,000/-. The Judgment Debtor after due approval from the Board Committee paid an amount of Rs.1,76,40,000/- (after TDS) to the Decree Holder on 23.04.2024 through RTGS Payment.

4.It is respectfully submitted that the Decree Holder acknowledged the payment vide their communication dated 23.04.2023 towards full satisfaction of the award amount and submitted that they have no objection to close the Execution Petition."

Under the above circumstances, it is humbly prayed that this Hon'ble Court may take this on record and close the Execution petition in E.P.No.39 of 2022 by recording the sand thus render justice."

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2. Recording the submission and the Joint Memo dated 30.04.2024, this Execution Petition is closed in terms of the aforesaid Memo. The Joint Memo dated 30.04.2024 shall form part of the order. No costs. 30.04.2024 Index : Yes/No Internet : Yes/No Speaking Order/Non-Speaking Order arr 3/4

KRISHNAN RAMASAMY, J.

arr 30.04.2024 4/4