K.Hari Krishnan v. Tata Motirs Finance Limited

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 13.02.2018

CORAM

THE HONOURABLE MR.JUSTICE M.M.SUNDRESH O.P.No.43 of 2012 K.Hari Krishnan residing at No.158/1, K.v.B. Garden, R.A.Puram, Mandhaveli, Chennai-600 028.

..Petitioner Vs.

1.Tata Motors Finance Limited, a Company incorporated under the provisions of Companies Act, 1956, having its registered office at Nanvati Mahalaya, 3rd floor, 18, Homi Mody Street, Fort, Mumbari-400 001.

and also at Cybertech House, Plot No.B-63/65 Road No.21/24, J.B. Sawant Marg, Wagle Estate, Thane, West Mumbai-400 604.

2.Mr.Nitin Chadha, Arbitrator, Having his office at Prashant Apartment, Opp IIT Main Gate, Shop No.3, Adishankracharya Marg, Powai, Mumbai-400 076.

.. Respondents Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside the impugned Award dated 22.06.2011 duly passed by the second respondent in ARB/LSA/Lot 2/A19/A-39 of 2010 in respect of the petitioner and for costs.

For Petitioner : Mr.V.Rameshvel For Respondents : Mr.K.R.Ramesh Kumar for R1 No appearance for R2

ORDER

Today, the matter stands resolved between the parties. Accordingly, the following terms have been arrived at. (i) The petitioner shall pay a sum of Rs.1,00,000/- (Rupees one lakh only) to the first respondent .

(ii) The said sum of Rs.1,00,000/- shall be paid in five equal instalments i.e., Rs.20,000/- each. The first instalment shall be paid or or before 28.02.2018. The remaining instalments shall be paid by the petitioner at the end of every month starting from March, 2018. (iii) The failure to pay the instalment will revive the award.

2. The original petition stands disposed of accordingly. No costs. 13.02.2018 Note: Issue order copy on 16.02.2018 raa

M.M.SUNDRESH,J.

raa O.P.No.43 of 2012 13.02.2018