Hiranandani Palace Gardens v. M/S Formoplastic Control Pvt.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED:04.11.2020

CORAM:

THE HONOURABLE Mr.JUSTICE M.SUNDAR O.P.No.305 of 2017

1. Hiranandani Palace Gardens Private Limited SIGMA, 6th Floor Technology Street HIRANANDANI Business Park Powai, Mumbai - 400 076.

2. M/s.Hiranandani Palace Gardens Private Limited 514, Dalamal Towers Nariman Point Mumbai - 400 021.

... Petitioners Vs.

M/s.Formoplastic Control Pvt. Ltd., 3/534, 1 Kundrathur Main Road Mandanandapuram Chennai-600 116.

... Respondent Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 praying to set aside the award dated 27.12.2016 passed in O.P.No.MSEFC/CR/62/2014.

For Petitioners :

Mr.Sharath Chandran For Respondent :

Mr.A.K.Sriram M/s.A.S.Kailasam Associates Mr.Prashant T.Rajagopal for Liquidator 1/8

O R D E R

Captioned original petition has been listed under the cause list caption 'FOR REPORTING SETTLEMENT'.

2. Today, Mr.Prashant T.Rajagopal, learned counsel on behalf of Ms.Chetna Paresh Sutaria (Liquidator), Mr.Sharath Chandran, learned counsel on behalf of petitioners and Mr.A.K.Sriram of M/s.A.S.Kailasam Associates (Law Firm) on behalf of lone respondent are before me in this web hearing on a video conferencing platform.

3. All the 3 aforementioned learned counsel submit that the lis has been amicably settled and the parties have entered into a 'Memorandum of Compromise dated 29.10.2020' (hereinafter 'said MOC' for the sake of brevity, convenience and clarity).

4. To be noted, said MOC duly signed by all the parties has been placed before me.

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5. All the aforementioned counsel makes a request that said MOC may please be recorded in captioned OP and that the terms of said MOC will now stand substituted in the place of the impugned award.

6. This Court is informed that the parties signed said MOC in the presence of one another. To be noted that said MOC is signed by the respective counsel also.

7. Adverting to this factum, all the learned counsel also submitted that personal presence of all parties may please be dispensed with for recording of said MOC owing to the virtual hearing and the present obtaining scenario. This request is acceded to.

8. Scanned reproduction of said MOC reads as follows: 3/8

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9. The said MOC shall be appended to this order and the same shall form part of this order.

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10. Captioned original petition disposed of recording said MOC and holding that the parties will now stand governed by said MOC, which will stand substituted in the place of the impugned award. There shall be no order as to costs.

04.11.2020 Speaking order : Yes/No Index : Yes/No Internet : Yes/No mk 7/8

M.SUNDAR, J.

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