M/S. Johnson Lifts Private Limited, Rep.By Its Authorised Signatory Mr.Rose Blessed King, v. M/S.Kopar Enterprises, Rep.By Its Partner Mr.Sarabjit Singh,
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated : 25.02.2021 Coram THE HONOURABLE MR. JUSTICE M.SUNDAR M/s.Johnson Lifts Private Limited Rep. By its Authorised Signatory Mr.Bose Blessed King No.1, East Main Road Anna Nagar West Extension Chennai - 600 101 .. Petitioner vs.
M/s.Kopar Enterprises Represented by its partner Mr.Sarabjit Singh No.SCF, No.413, Motor Market Complex Manimanjra Chandigargh - 160 101 ... Respondent Petition filed under Section 34 (2)(b)(ii) of Arbitration and Conciliation Act, 1996 to set aside the award dated 13-06-2020 passed by the Hon'ble Arbitrator in the matter of Arbitration disputes between M/s.Kopar Enterprises and M/s.Johnson Lifts Private Limited with costs. For Petitioner : Mr.K.Newlin Frederick Assisted by Mr.Benjamin E Moses For Respondents : Mr.T.Gowthaman 1/8
ORDER
Read this in conjunction with and in continuation of earlier proceedings made in the previous listing on 18.02.2021.
2. Pursuant to earlier proceedings, captioned OP is listed under the cause list caption 'FOR REPORTING SETTLEMENT'. Mr.K.Newlin Frederick assisted by Mr.Benjamin E Moses, counsel on record for sole petitioner and Mr.T.Gowthaman, learned counsel on record for lone respondent are before me. Learned counsel on both sides submit that captioned matter has been settled, the terms of settlement have been reduced to writing by way of a Joint Memorandum of Compromise dated 25.02.2021. This Joint Memorandum of Compromise has been signed by counsel on record for both sides and petitioner, but with regard to signature of the respondent, one has to turn to a memo dated 23.02.2021 filed by the respondent.
3. The aforementioned memo filed by the respondent and the Joint Memorandum of Compromise read as follows:
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4. In the light of the Joint Memorandum of Compromise, more particularly paragraph 3(a) thereat, learned counsel for respondent requests that payment out of Rs.40,80,000/- (Rupees Forty Lakhs Eighty Thousand only) which is lying in deposit to the credit of captioned matter may please be ordered. This request is acceded to. Registry to treat this order inter alia as a payment out order, process payment out of entire money lying in deposit with Registry qua captioned matter and issue an instrument drawn in the name of the respondent.
5. Be that as it may, this Court is informed that today the petitioner has handed over a Demand Draft dated 24.02.2021 bearing No.264121 and a scanned reproduction of the same is as follows:
6. Registry to process the payment out and an instrument to be issued in the name of the respondent within four weeks from today i.e., 6/8
on or before 25.03.2021. Both learned counsel, on instructions, submit that both parties have no claims whatsoever against each other under any head in this matter. This submission is recorded. Captioned OP disposed of as closed in the aforesaid manner. Consequently, captioned application also stands closed. There shall be no order as to costs.
25.02.2021 Speaking order: Yes / No Index: Yes / No gpa 7/8
M.SUNDAR.J., gpa 25.02.2021 8/8