Mr.Gnanaiyan S/O Nesamani(Died) Mrs. Gerase W/O Mr..Gnanaiyan v. Equitas Small Finance Bank Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 06.12.2019

CORAM

THE HONOURABLE Ms.JUSTICE P.T.ASHA O.P.No.654 of 2019 in A.No.6067 of 2019 Gnanaiyan (Died) Gerase W/o.Gnanaiyan .. Petitioner -vsM/s.Equitas Small Finance Bank Limited, (Formerly known as M/s.Equitas Finance Ltd.) Rep by its A.L.M. Mr.Francies Rozario Arun Raj, Spencer Plaza, 4th Floor, Phase II, No.709, Mount Road, Annasalai, Chennai 600 002 .. Respondent Prayer: Petition filed under Section 34(2)(a)(iii) of the Arbitration & Conciliation Act, 1996 to set aside the award made in Arbitration Claim Petition No.VP/SME/447/2018 dated 06.05.2019 on the file of the Sole Arbitrator.

For Petitioner : Mr.K.A.Ravindran For Respondent : Mr.A.Damodaran

ORDER

The parties have resolved their disputes before the Mediation Centre and the Settlement Agreement dated 29.11.2019 signed by Gerase, W/o.Gnanaiyan and the respondent-Bank has been received and the same is taken on file. The order is passed in the Original Petition recording the above Settlement Agreement. The terms of the

Settlement Agreement shall form part of the order. 2.

It is also brought to the notice of this Court that one of the terms of the Agreement was that the respondent-Bank would cancel the memorandum of deposit confirming deposit of title deeds registered before the Sub Registrar Office, Walajabad in Document No.1536 of 2017 dated 10.05.2016. It is made clear that in the event of respondent-Bank not proceeding to cancel the above memorandum of deposit, it is open to the petitioner to produce a copy of the order of this Court and get the same cancelled.

3.

In view of the above Settlement Agreement, this Original Petition is disposed of. No costs. Consequently, connected miscellaneous application is closed.

06.12.2019 srn

P.T.ASHA.J srn O.P.No.654 of 2019 in A.No.6067 of 2019 06.12.2019