R.Vasantharaj v. Sundaram Finance Limited

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 21.08.2024

CORAM

THE HONOURABLE THIRU JUSTICE A.D.JAGADISH CHANDIRA and CMP No.12382of 2024 1.R.Vasantharaj

2. R.Eswaran .... Petitioners vs M/s Sundaram Finance Limited.

Represented by its Assistant Manager (Legal), A.Dharmaraj, 21, Pattullos Road, Chennai-600 002.

..... Respondent Civil Revision Petition filed under Article 227 of the Constitution of India against the docket order dated 29.04.2024 passed in E.P.No.5 of 2022 in Arb.Case No.SF/PG/88/18 on the file of I Additional District Judge, Tiruppur. For Petitioners : Ms.R.Hemalatha For Respondent : Ms.B.Narmadha For Mr.M.Arunachalan

O R D E R

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Learned counsel on both sides submit that the parties have entered into compromise and a true copy of Memorandum of Understanding dated 30.07.2024 has been placed before this Court.

2. The petitioners have offered to pay a sum of Rs.63,00,000/-(Rupees Sixty three lakhs only) to the respondent as against the claim amount of Rs.2,43,06,710/- as on 30.07.2024. for discharging their liability. The petitioners have agreed to settle the amount by way of three instalments. The first instalment of Rs.13,00,000/- was paid by way of RTGS dated 18.06.2024 and 06.07.2024; a sum of Rs.27,07,024/- on or before 30.09.2024 and the balance amount of Rs.22,87,626/- on or before 31.12.2024. The Memorandum of Understanding reads as follows:

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3. The Civil Revision Petition is closed in terms of the Memorandum Understanding. The Memorandum of Understanding dated 30.07.2024 shall form part of this order. No costs. Consequently, connected miscellaneous petition is closed.

21.08.2024 sr Index:no website:yes To The I Additional District Judge, Tirupur 7/8

A.D.JAGADISH CHANDIRA,J,.

sr CRP No.2366 of 2024 21.08.2024 8/8