Changshu Wealthy Science And Technology Co. Ltd v. Oren Hydrocarbons Pvt Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS

Dated : 10.01.2020

CORAM:

THE HONOURABLE DR. JUSTICE G.JAYACHANDRAN and A.Nos.2104 & 3284 of 2019 M/s.CHANGSHU WEALTHY SCIENCE AND TECHNOLOGY CO. LTD., 8, Jiyu Road, Jiangsu Changshu Advanced Material Industrial Park, Changshu City, Jiangsu Provine, China Represented by its Sales Director Mr.Bai Jishuai .. Plaintiff /versus/ M/s.OREN HYDROCARBONS PRIVATE LIMITED, 28/2B, Saravana Street, T.Nagar, Chennai-600 017 Tamilnadu Represented by its Managing Director, Mr.Rizwan Ahmad .. Defendant This Civil Suit is filed under Order IV Rule 1 Original Side Rules read with Order VII Rule 1 of CPC and under Section 7 of the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act No.

4 of 2016 prayed for (a) Against the defendant, directing it to pay to the plaintiff a sum of USD 1,54,891 (US dollars One Lakh Fifty Four Thousand Eight Hundred and Ninety One Only) which is equivalent to Rs.1,04,68,315/- (Rupees One Crore Four Lakh Sixty Eight Thousand Three Hundred and Fifteen Only) along with interest of 18% p.

Twenty Only), which is approximately equivalent to Rs.83,30,850/- (Rupees Eighty Three Lakh Thirty Thousand Eight Hundred and Fifty Only) from the date of the present suit till the date of realization; (b) directing the defendant to pay the costs of the suit.

For plaintiff : Mr.A.V.B.Krishnakanth For Defendant : Mr.Subhang P.Nair

JUDGMENT

The learned counsel appearing for the plaintiff as well as the sole defendant report that the parties have entered into settlement.

2. Pending suit, the parties have entered into settlement on 28.11.2019 and a Memo of Settlement has been filed by the the plaintiff, which has been signed and produced before this Court.

3. Recording the same, the suit is dismissed as settled out of Court. The Registry is directed to refund the Court fee as per law to the plaintiff. Consequently, the connected applications are also closed. 10.01.2020 Speaking Order / Non-Speaking Order Index : yes/no rpl 2/3

Dr.G.JAYACHANDRAN,J.

rpl and A.Nos.2104 & 3284 of 2019 10.01.2020 3/3