M/S.Vijay Tanks And Vessels Ltd v. M/S.Simplex Infrastructure Ltd
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 11.06.2025 CORAM :
THE HON'BLE MR.K.R.SHRIRAM, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE SUNDER MOHAN and C.M.P.Nos.1100 of 2021; 15889 of 2023 and 12973 of 2025 M/s.Vijay Tanks & Vessels Limited, Rep. by Its Managing Director Ranganathan Raghavan, NH No.8, Sankarda, Baroda 391350.
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Appellant Vs M/s.Simplex Infrastructure Limited, Rep. by Its Director Shankar Guha, No.21, Casa Major Road, Egmore, Chennai 600008.
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Respondent Prayer: Appeal filed under Section 37 of the Arbitration and Conciliation Act, 1996 read with Order XXXVI, Rule 9 of O.S. Rules and Clause 15 of the Amended Letters Patent against the judgment and decree dated 01.08.2019 made in O.P.No.117 of 2007.
For Appellant:
Mr.K.Harishankar For Respondent:
Mr.Thriyambak J.Kannan
JUDGMENT
(Delivered by the Hon'ble Chief Justice) Shri Harishankar and Shri Thriyambak J.Kannan, in unison, state that the parties have amicably settled the matter.
2. Shri Harishankar states that it is agreed between the parties that appellant would pay over to respondent a sum of Rs.1,14,87,440/- mentioned in C.M.P.No.12973 of 2025 and also the amount that was deposited by appellant in this Court together with accumulated interest.
3. Shri Harishankar undertakes on behalf of appellant that Rs.1,14,87,440/- will be paid within one week from today. Undertaking accepted.
4. With respect to the second part, this Court, by an order dated 27.01.2021, was pleased to grant interim stay on the condition that
appellant shall deposit 50% of the award passed by the Arbitrator with proportionate interest. Accordingly, appellant had deposited a sum of Rs.94,41,333/-, which has on 2nd April, 2025 [as per the certificate issued by the Joint Registrar (Original Side)] had increased to Rs.1,03,55,555/-. This amount has been invested in fixed deposit with Indian Bank, Madras High Court Branch, for a period of one year in a interest bearing account.
5. The amount would have certainly increased. Registry shall foreclose the fixed deposit and the entire amount received from the bank shall be paid over to respondent without any deductions within one week of receiving application from the advocate for respondent enclosing a copy of this judgment.
6. Appeal stands disposed of. There shall be no order as to costs. Consequently, interim applications are closed. (K.R.SHRIRAM, CJ.) (SUNDER MOHAN, J.) 11.06.2025 Index :
Yes/No :
Yes/No
bbr To:
1. The Sub Assistant Registrar, Original Side, Madras High Court.
2. The Registrar General, Madras High Court.
THE HON'BLE CHIEF JUSTICE AND SUNDER MOHAN,J.
bbr 11.06.2025