Green Signal Bio Pharma (P)Ltd v. M/S.Ticel Bio Park Ltd.,

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 31.01.2019

CORAM:

THE HONOURABLE MR. JUSTICE S.VAIDYANATHAN ORIGINAL PETITION NO.639 OF 2011 Green Signal Bio Pharma (P) Ltd., Rep. by its Authorised Signatory, E.Mullaivalavan, Old No.5, New No.13/A3 Sainikethan, Circular Road, United Indian Colony, Kodambakkam, Chennai-34.

... Petitioner -vs1.

M/s.TICEL BIO PARK LTD., Rep. by its Manager, (Administration & Company Secretary), Mr.R.Subramanian, Taramani Road, Taramani, Chennai-600 113.

2.

Mr.R.Mohandas, Sole Arbitrator, 253, Law Chambers, High Court, Chennai.

... Respondents PRAYER: Petition is filed under Section 34 of the Arbitration and Conciliation Act, 1996, seeking to set aside the Award dated 30.07.2011 in O.P.No.3 of 2008 passed by the 2nd respondent / Sole Arbitrator.

For Petitioner : Mr.R.Subramanian For R1 : M/s.King & Partridge *****

O R D E R

When the matter is taken up for hearing, it is represented by the learned counsel on either side that the matter has been amicably resolved between the parties and the petitioner has consented to pay a sum of Rs.20,41,118/- to the 1st http://www.judis.nic.in

S.VAIDYANATHAN, J.

ar respondent herein in full. Learned counsel for the petitioner has also produced a copy of the Full Satisfaction Memo dated 31.01.2019 before this Court in proof thereof, in which, it has been stated as follows: "It is submitted that the respondent filed E.P.No.175 of 2018 claiming a sum of Rs.20,41,118/- towards the award amount in the Arbitration award dated 30.07.2011. The petitioner is paying the said amount of Rs.20,41,118/- by way of Demand Draft drawn on Kotak Mahindra Bank, Kodambakkam dated 30.01.019 D.D.No.400761 in favour of the respondent (TICEL BIO PARK LTD) towards full satisfaction of the award amount. It is therefore prayed that this Hon'ble Court be pleased to record the payment of Rs.20,41,118/- towards full and final satisfaction of the Arbitration award dated 30.07.2011 in E.P.No.175 of 2018 and dismiss the E.P. and close the above O.P.No.639 of 2011 and thus render justice."

2. Recording the above submissions, this Original Petition is disposed of. The Full Satisfaction Memo dated 31.01.2019 shall form part of this order. No costs. Index : Yes / No 31.01.2019 Internet : Yes / No ar Note: Issue order copy on 06.02.2019 ORIGINAL PETITION NO.639 OF 2011 http://www.judis.nic.in