Madras High CourtArb O.P(COM.DIV.)/5/2024decree in terms of memo of comprom

K.Bharathi v. Shri.Gurushanthi Agencies

2024-01-09Honourable Mr Justice C. Saravanan4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 09.01.2024 CORAM :

THE HONOURABLE MR.JUSTICE C.SARAVANAN Arb.O.P.(Com.Div.)No.5 of 2024 and A.No.85 of 2024 K.Bharathi ... Petitioner Vs.

1.M/s.Gurushanthi Agencies, Represented by its Managing Partner, No.9, GST Road, Sothupakkam, Kanchipuram District - 603 309.

2.J.Poornachandran 3.M/s.Hindustan Petroleum Corporation Limited, Represented by its Deputy General Manager - Retail Petro Bhavan, II Floor, No.82, TTK Road, Alwarpet, Chennai - 600 018.

... Respondents Prayer: Original Petition is filed under Section 34 of the Arbitration and Conciliation Act, 1996, praying to set aside the arbitral award dated 26.08.2023 passed by Learned Sole Arbitrator and to direct the 2nd Respondent to pay the costs.

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For Petitioner : Mr.K.Chandrasekaran For Respondents : Mr.J.Poornachandran for R2 Party in Person

ORDER

This Arbitration Original Petition has been filed to set aside the arbitral award dated 26.08.2023 passed by the Learned Sole Arbitrator and to direct the 2nd Respondent to pay the costs.

2. The petitioner and the first and second respondents are present before this Court. The petitioner is also represented by her counsel. The first respondent is represented by the second respondent Mr.J.Poornachandran. Mr.J.Poornachandran is present as party in person. They have entered into the Memorandum of Understanding dated 13.12.2023. Parties agree with the terms of the Memorandum of Understanding dated 13.12.2023. It is signed by the petitioner and the respondents and is also counter signed by the counsel for the petitioner. The petitioner herein has decided to sell her shares from the partnership firm to a third party whose name is not found in the agreement. However, it is informed by the learned counsel for the petitioner that the name of the third party viz., Mr.Dhandapani.

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3. Since the parties have arrived at a settlement and have filed a Joint Memo of Compromise before this Court.

4. In view of the above, this Arbitration Original Petition stands closed. The terms of Memorandum of Understanding dated 12.12.2023 shall form part and parcel of this order. No costs. Consequently, connected Application is also closed.

09.01.2024 Index : Yes/No Internet : Yes/No jas 3/4

C.SARAVANAN, J.

jas Arb.O.P.(Com.Div.)No.5 of 2024 and A.No.85 of 2024 09.01.2024 4/4