Mr.C.P.Venkatasalam v. M/S.Kotak Mahindra Bank Ltd.,
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated : 03.12.2020
CORAM
THE HON'BLE MR.JUSTICE M.SUNDAR O.P.Nos.242 and 266 of 2015 O.P.No.242 of 2015 Mr.C.P.Venkatesan No.20, Nanjappa Nagar 2nd Street West Singanallur, Coimbatore Pin: 641 005 ... Petitioner Vs.
1. M/s.Kotak Mahindra Bank Ltd., Rep. By its Authorised Signatory 2nd Floor, 3 Dass India Tower 2nd Line Beach, Parrys Chennai - 600 001 2.D.Saravanan Sole Arbitrator Orient Chambers 4th Floor, No.90/73, Armenian Street Chennai - 600 001
3. Mr.N.Sathish Kumar .. Respondents Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside the ex parte award of the sole Arbitrator / 2nd Respondent passed in A.C.P (Kotak) No.301 of 2010 dated 15.12.2014 as against the Petitioner with cost and pass such further or other orders as this Court may deem fit and proper in the circumstances of the case.
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For Petitioner : Mr.P.Navaneetha Krishnan For Respondents : Mr.Kiran Krishnan for Mr.K.Moorthy for R1 No appearance for R3 O.P.No.266 of 2015 Ms.N.Sathish Kumar Sri Murugan Motors and Earth Movers No.593-1, NH 47, Gold Coins Avinashi Road Civil Airodrome Post, Coimbatore Pin: 641 014 ... Petitioner Vs.
1. M/s.Kotak Mahindra Bank Ltd., Rep. By its Authorised Signatory 2nd Floor, 3 Dass India Tower 2nd Line Beach, Parrys Chennai - 600 001 2.D.Saravanan Sole Arbitrator Orient Chambers 4th Floor, No.90/73, Armenian Street Chennai - 600 001
3. Mr.C.P.Venketasalam ... Respondents Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside the ex parte award of the sole Arbitrator / 2nd Respondent passed in A.C.P (Kotak) No.301 of 2010 dated 15.12.2014 as against the Petitioner herein with cost and pass such further or other orders as this Court may deem fit and proper in the circumstances of the case.
For Petitioner : Mr.S.Saravanan For Respondents : Mr.Kiran Krishnan 2/12
for Mr.K.Moorthy for R1 No appearance for R3 COMMON ORDER Mr.Navaneethakrishnan, learned counsel on record for petitioner in O.P.No.242 of 2015, Mr.S.Saravanan, learned counsel on record for petitioner in O.P.No.256 of 2015 and Mr.Kiran, learned counsel representing Mr.K.Moorthy, counsel on record for contesting first respondent Kotak Mahindra Bank Ltd., in both the captioned 'Original Petitions' ('OPs' in plural and ÓP'in singular for the sake of brevity) are before me in this web-hearing on a video-conferencing platform. To be noted, captioned OPs are listed under the cause list caption 'FOR REPORTING SETTLEMENT'.
2. The aforementioned three counsel make a common submission in unison that both captioned OPs have been filed challenging the same arbitral award, namely 'award dated 15.12.2014 bearing reference A.C.P (Kotak) No.301 of 2010', (hereinafter 'impugned award' for the sake of brevity and convenience). All the learned counsel submit that while O.P.No.242 of 2015 is at the instance of borrower, O.P.No.266 of 2015 is at the instance of guarantor. Two separate memos (one in each OP), but with the same terms and annexures have been filed. The scanned copy of 3/12
the memo and annexures is as follows:
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3. All the aforementioned three counsel submit in unison that captioned OPs can be closed by recording the aforementioned memos together with annexures evidencing settlement (scanned and reproduced above). Though obvious it is made clear that aforementioned memo and annex ures will stand substituted in place of the impugned award and govern the parties from hereon.
4. The memos, both dated 19.11.2020 filed in the captioend OPs and the annexurs evidencing settlement shall form part of this common order.
Both captioned OPs disposed of on above terms. There shall be no order as to costs.
03.12.2020 gpa 11/12
M.SUNDAR.J., gpa O.P.Nos.242 and 266 of 2015 03.12.2020 12/12