Madras High CourtOP/707/2016disposed of in memo of compromise

M/S.Madhav Structural v. M/S.India Cements Capital

2020-09-17Honourable Mr Justice M. Sundar13 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED:17.09.2020

CORAM:

THE HONOURABLE Mr.JUSTICE M.SUNDAR 1.M/s.Madhav Structural Engineering Ltd., represented by its Director Laxman Mahadev Chavan having its registered office at 29/1, Juhu Supreme Shopping Centre JVPD Scheme, Mumbai - 400 049

2. M/s. Yogesh Construction P.Ltd.

Represented by its Director Yoyesh R.Chavan having its registered office at 29/1. Juhu Supreme Shopping Centre JVPD Scheme, Mumbai - 400 049 3.Mr.Laxman Mahadev Chavan Adult Mumbai Indian Inhabitant having address at 29/1. Juhu Supreme Shopping Centre JVPD Scheme, Mumbai - 400 049

4. Mr.Ramesh Mahadev Chavan Adult Mumbai Indian Inhabitant having address at 29/1. Juhu Supreme Shopping Centre JVPD Scheme, Mumbai - 400 049

5. Mr.Arun Mahadev Chavan Adult Mumbai Indian Inhabitant having address at 29/1. Juhu Supreme Shopping Centre 1/13

JVPD Scheme, Mumbai - 400 049

6. Mr.Ram Mahadev Chavan Adult Mumbai Indian Inhabitant having address at 29/1. Juhu Supreme Shopping Centre JVPD Scheme, Mumbai - 400 049 ... Petitioners Vs.

M/s.India Cements Capital Ltd., having its registered Office at Dhun Building 3rd and 4th Floor, 827, Anna Salai Chennai - 600 002 ... Respondent Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 to set aside the impugned award passed by the learned Sole Arbitrator dated 27.01.2016 in proceedings bearing ACP No.7 of 2008 and to order costs of the present petition.

For Petitioners : Ms.Deepika Murali For Respondent : Mr.Aravind Subramaniam

ORDER

Ms.Deepika Murali, learned counsel on record for six petitioners and Mr.Aravind Subramaniam, learned counsel for sole respondent are before me in this web-hearing on a video-conferencing platform. 2.Captioned Original Petition is listed under the cause list caption 'FOR REPORTING SETTLMENT', pursuant to earlier proceedings dated 2/13

03.08.2020, 24.08.2020 and 07.09.2020, which read as follows: 'Proceedings dated 03.08.2020 'Ms.Deepika Murali, learned counsel for six petitioners and Mr.Aravind Subramaniam, learned counsel for sole respondent are before me in this web-hearing on a video-conferencing platform.

2.Adverting to earlier proceedings dated 25.02.2020 made by Hon'ble Predecessor Judge, both the learned counsel submit that the matter is heading for settlement, but both learned counsel request for some time. At request, adjourned by three weeks. List under the caption 'FOR REPORTING SETTLEMENT' on 24.08.2020.'

'Proceedings dated 24.08.2020 Mr.Aravind Subramaniam, learned counsel for sole respondent, adverting to earlier proceedings dated 03.08.2020 submits that settlement is in the anvil and requests for a week's time.

List under the same caption on 07.09.2020. '

'Proceedings dated 07.09.2020 It is submitted by both sides that the settlement has been concluded, but learned counsel on both sides seek ten days time to file Memorandum of Compromise in the Registry and bring it on Board.

List under the same caption on 17.09.2020.'

3. Today, aforementioned two learned counsel on record submit that the six petitioners and the sole respondent have arrived at a settlement and have 3/13

reduced the same into writing by way of a document in the name and style 'MEMORANDUM OF SETTLEMENT dated 19.08.2020' (hereinafter 'said settlement memorandum' for the sake of convenience and clarity).

4. Scanned reproduction of said settlement memorandum is as follows: 4/13

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5. Aforementioned learned counsel on record on both sides make a request that captioned OP can be disposed of by holding that said settlement memorandum will substitute the impugned arbitral award dated 27.01.2016. In other words, instead of impugned award dated 27.01.2016, said settlement memorandum will operate as the award between the parties, is the common say of both sides. Considering that this is a virtual hearing, both sides make a joint request for dispensing with the presence of the parties and this request is acceded to.

6. Captioned OP is disposed of on following terms: a) Said settlement memorandum i.e., MEMORANDUM OF SETTLEMENT dated 19.08.2020 (scanned copy reproduced supra) shall substitute / replace impugned award dated 27.01.2016 made in ACP No.7 of 2008;

b) On and from today, said settlement memorandum will govern the parties instead of impugned award dated 27.01.2016. c) There shall be no order as to costs.

17.09.2020 gpa 12/13

M.SUNDAR.J., gpa 17.09.2020 13/13