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Madras High CourtOA/579/2021disposed of

M/S. Sundaram Finance Limited v. M/S. Srivalli Shipping And Transport Pvt, Ltd.

2022-07-20Honourable Mr Justice M. Sundar4 pages

and Arb Appln.Nos.246 to 249 of 2021 M.SUNDAR, J., This common order will govern the captioned eight applications.

2. Read this in conjunction with and in continuation of earlier proceedings made in the captioned 8 applications in the previous listing on 06.07.2022 which reads as follows:

'Matter mentioned at half past ten.

2. Mr.R.Umashankar of M/s.Sri and Shankar Associates (Law Firm) and Mr.K.V.Sundararajan, learned counsel on either side are before this Court.

3. Both learned counsel submit that settlement talks were progressing and settlement is in the anvil. Both learned counsel submit that they are hopeful of concluding the matter and request for rescheduling of the matter.

4. List under the same cause list caption i.e., FOR REPORTING SETTLEMENT a fortnight hence. List on 20.07.2022.'

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3. Today, Mr.R.Umashankar of M/s.Sri and Shankar Associates (Law Firm) on behalf of applicant and Mr.K.V.Sundararajan, learned counsel on record for respondent in all the eight captioned applications are before this Court.

4. Both the learned counsel submit that 'Arbitral Tribunal' [hereinafter 'AT' for the sake of convenience and clarity] have since been constituted in the captioned matters.

5. In this view of the matter, learned counsel for the applicant in all the eight captioned applications has made identical endorsement in all the eight case file and one typical endorsement in O.A.No.579 of 2021 reads as follows:

'The applicant has initiated arbitration proceedings. Hence may be permitted to approach the Arbitral Tribunal with similar or other reliefs under Section 17 of the Act, 1996.'

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6. In the light of the narrative thus far, captioned eight applications are disposed of as closed albeit preserving the rights of both sides to pursue their remedies before AT either under Section 17 of A and C Act or in any other manner if so advised and if so desired. If such a course is adopted, though obvious it is made clear that AT shall deal with the pleas on its own merits and in accordance with law notwithstanding this judicial proceedings. There shall be no order as to costs. 20.07.2022 mk Page No:3/4

M.SUNDAR, J., mk and Arb Appln.Nos.246 to 249 of 2021 20.07.2022 Page No:4/4