Mr.S.Thanigaivel And Another v. M/S.Galada Finance Limited
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) FRIDAY, THE 30TH DAY OF JULY 2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN Arb.A.No. 27 of 2021 In the matter of Arbitration and Conciliation Act, 1996 And In the matter of Agreement dated 27.01.2017 between M/s. Galada Finance Limited & S.Thanigaivel and another.
1. Mr.S.Thanigaivel S/o. M.Srinivasan No.4/324-A, Anna Salai, Palavakkam, Chennai 600 041.
2. Mrs.Revathi W/o. Thanigaivel No.4/324-A, Anna Salai, Palavakkam, Chennai 600 041.
...Applicants -VersusM/s. Galada Finance Limited, Represented by its Manager G.Ramesh Old No.4, New No.7, Shafee Mohammed Road, Thouand Lights, Chennai 600 006.
...Respondent
Application praying that this Hon'ble Court be pleased to raise the order of attachment dated 06.06.2019 in arbitration Case No. KSG 07 of 2018 which was effected by an order of attachment dated 03.08.2019 in Sub Registrar, Mylapore, in respect of the schedule property.
This application coming on this day before this court for hearing in the presence of Mr.S.Dharmakkan, Advocate for the applicants herein and the respondent herein not appearing in person or by advocate and upon reading the judges summons and the affidavit of Thanigaivel, filed herein, and the order dated 06.06.2021 made in Arb.Case No.KSG/7/2018 and the joint compromise memo signed by the applicants and the respondent herein and their respective advocates and the said advocates for the parties hereto, praying this court to record the joint compromise memo more fully set out in the schedule hereunder, and raise the order of attachment, it is ordered as follows:- That the order of attachment granted in pursuance of the order dated 06.06.2019 made in Arbitration Case No. KSG 07 of 2018, attaching the immovable property morefully set out in the schedule hereunder, be and is hereby raised.
Schedule All that is piece and parcel of 1/4th share of UDS of land measuring 2600 sq.ft and building constructed there on bearing Old Door No.7, New Door No.11/25, plot No.14, Bheemanna Mudali Garden Street, Sri Ram Colony, Chennai - 600 018 comprised in R.S.No.3638/8 and 3638/4 as per patta New R.S.No.3638/26 & 3638/25 Block No.72 of Mylapore Revenue Village, Mylapore - Triplicane Taluk, Chennai District registered as
Documents bearing No. 1478/2014 in the office of the Sub Registrar of Mylapore.
On the North by : Plot No.13 belonging to Sri Sundararajan On the South by : Plot No.15, being part of R.S.No.3638/8 & 3638/4 On the East by : Street, On the West by : Plot & House No.11 being part of R.S.No.3638/4 & belonging to Dr.Ramadurai.
Joint Compromise memo
SK 04.08.2021 Arb.A.No. 27 OF 2021
ORDER
DATED:30.07.2021 THE HON'BLE MR.JUSTICE V.PARTHIBAN FOR APPROVAL: 04.08.2021 APPROVED ON:04.08.2021 Copy to:
The Sub Registrar Sub Registrar Office, Mylapore, Chennai.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) FRIDAY, THE 30TH DAY OF JULY 2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN Arb.A.No. 27 of 2021 In the matter of Arbitration and Conciliation Act, 1996 And In the matter of Agreement dated 27.01.2017 between M/s. Galada Finance Limited & S.Thanigaivel and another.
1. Mr.S.Thanigaivel S/o. M.Srinivasan No.4/324-A, Anna Salai, Palavakkam, Chennai 600 041.
2. Mrs.Revathi W/o. Thanigaivel No.4/324-A, Anna Salai, Palavakkam, Chennai 600 041.
...Applicants -VersusM/s. Galada Finance Limited, Represented by its Manager G.Ramesh Old No.4, New No.7, Shafee Mohammed Road, Thouand Lights, Chennai 600 006.
...Respondent
Application praying that this Hon'ble Court be pleased to raise the order of attachment dated 06.06.2019 in arbitration Case No. KSG 07 of 2018 which was effected by an order of attachment dated 03.08.2019 in Sub Registrar, Mylapore, in respect of the schedule property.
This application coming on this day before this court for hearing the court made the following order:
When the matter is taken up for hearing today, a joint memo of compromise has been filed by the parties dated 22.07.2021. As per the Joint Compromise memo, a sum of Rs.35,50,000/- has been paid as full and final settlement in regard to the subject matter of arbitration. The learned counsel for the respondent would submit that the respondent is not having any objection for raising the order of attachment in respect of the schedule property. The terms of joint compromise memo are extracted hereunder; " 1. The Applicants have paid the amount due Rs.35,50,000/- to the respondent as full and final settlement of arbitration claim.
2. The respondent submits the respondent does not have any objection to raise the order of attachment made in respect of the schedule property". In view of the Joint memo of compromise filed, the order of attachment in Arb.Case No. KSG 07 of 2018 dated 06.06.2019 is ordered to be raised and the present Application is allowed accordingly. Sd./-(V.P.N.J.,) 30.07.2021 //Certified to be true copy// Dated at Madras this the day of 2017. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.