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Madras High CourtOSA/55/2015disposed of

P. Lakshminarasimhamoorthy v. M/S. Shriram City Union

2015-03-12Honourable The Chief Justice,Honourable Mr Justice M.M.Sundresh2 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 12.03.2015

CORAM

THE HON'BLE MR.SANJAY KISHAN KAUL, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE M.M.SUNDRESH O.S.A.No.55 of 2015 and M.P.No.1 of 2015 R.Lakshmi Narsimha Moorthy ...Appellant -vs1. M/s.Shriram City Union Finance ltd.

Rep. by its Authorised Signatory, Mr.A.Vinolin.

2. M/s.Elait IT Technology Services Pvt. Ltd. Abiramapuram, Chennai-18.

3. M/s.Housing.com Locon Solutions Pvt. Ltd., Abiramapuram, Chennai-18.

4. Quantum Leap Performance Abiramapuram, Chennai.

...Respondents

Appeal filed under Order XXXVI Rule 9 of O.S. Rules against the order dated 18.12.2014 in A.No.4882 of 2014 on the file of original side of this Court.

For Appellant : Mr.S.Satish Chandrasekaran For Respondents : Mr.R.Umashankar for R-1 Mr.K.Shankar for R-2 https://hcservices.ecourts.gov.in/hcservices/

J U D G M E N T

(Judgment of the Court was delivered by The Hon'ble Chief Justice) Learned counsel for the first respondent fairly states that he would accept the proposal, which was recorded in the order dated 26.02.2015, i.e. that the impugned order is modified to the extent that instead of attaching the sum of Rs.5 lakhs, a sum of Rs.2.5 lakhs be attached, keeping in mind the liability of the appellant towards the secured creditors.

2.In order to ensure regular compliance, it is agreed that the third respondent would directly pay the amount to the first respondent of Rs.2,00,000/- (Rupees two lakhs only), as that is the amount payable and the balance amount of Rs.50,000/- (Rupees fifty thousand only) will be paid by the appellant to the first respondent towards the arrears.

3.We hope that the parties are able to resolve the disputes in the arbitration proceedings.

4.Original Side Appeal stands disposed of in terms aforesaid. No costs. Consequently, M.P.No.1 of 2015 stands closed. Sd/- Assistant Registrar(CO) //True Copy// Sub Assistant Registrar sra To The Sub-Assistant Registrar, Original Side, Madras High Court, Chennai.

2 CCs to M/s. Sri & Shankar Associates, Advocate SR.No. 14170 1 CC to Mr.S.Satish Chandrasekaran, Advocate SR.No. 14076 1 CC to Mr.D.Mukundan, Advocate SR.No. 14290 O.S.A.No.55 of 2015 KM (CO) and M.P.No.1 of 2015 PSI (26.03.2015) https://hcservices.ecourts.gov.in/hcservices/