S.Gopinath v. M/S.Sundaram Finance Limited

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 20.04.2018

CORAM

THE HONOURABLE MR.JUSTICE M.M.SUNDRESH O.P.No.477 of 2013 S.Gopinath, S/o Late R.Sriramakrishnan, A-8, Palson Apartment, 21-C, Arunachalam Road, Saligramam, Chennai-600 093.

..Petitioner Vs.

1.M/s Sundaram Finance Limited, Rep., by its General Manager, No.21, Pattulos Road, Chennai-600 002.

2.M.B.Arumugam, No.29, Jarayajan Nagar, Guduvanchery, Chennai-603 202.

3.Mr.P.M.Ramani, Sole Arbitrator in Arbitration Matter PMR/SF/116 of 2012 M/s Sundaram Finance Limited, No.21, Pattulos Road, Chennai-600 002.

.. Respondents

Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside the Arbitration Award passed by the Sole Arbitrator (the third respondent herein) in Arbitration Case No. PMR/SF/116 of 2012 dated 22.01.2013 served on the applicant on 15.03.2013.

For Petitioners : Mr.Razhaq for M/s Razhaq Associates For Respondents : Mr.T.Srinivasaraghavan for M/s T.Srinivasaraghavan & Associates

ORDER

When the matter stands adjourned to resolve the dispute by the petitioner-guarantor as against the first respondent, it is agreed that the petitioner will pay a sum of Rs.30,000/- towards his part of the liability. The award amount is Rs.63,189/- with interest. It is also agreed that the said amount will be paid within a period of four weeks from the date of receipt of a copy of this order.

2. Accordingly, the original petition stands disposed of by directing the petitioner to pay a sum of Rs.30,000/- (Rupees

thirty thousand only) to the first respondent within a period of four weeks from the date of receipt of a copy of this order. However, for the remaining amount, the first respondent is at liberty to proceed against the principal borrower as this order will merely take care of the liability of the petitioner alone. No costs.

3. Post on 11.06.2018 for reporting compliance. 20.04.2018 raa

M.M.SUNDRESH,J.

raa O.P.No.477 of 2013 20.04.2018