B. Bhuvaneswari, W/O. Balasundaram, v. M/S. Shriram City Union Finance Ltd.,
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) THURSDAY, THE 29th DAY OF JULY 2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR O.P. No.937 of 2019 In the matter of the Arbitration and Conciliation Act 1996 & In the matter of the M/s Shriram City Union Finance Ltd., and Bhuvaneswari B and Karthick Raja B.
1.Mrs.Bhuvaneswari B, W/o Balasundaram, 32, Mullai Nagar, Nathamedu, Thirunindravur, Chennai - 602 024.
2.Karthick Raja B, S/o Balasundaram, 32, Mullai Nagar, Nathamedu, Thirunindravur, Chennai - 602 024.
:Petitioners -VsM/s Shriram City Union Finance Ltd., No.123, Angappa Naicken Street, Chennai - 600 001.
And inter Alia branch Sorrento Building 1 floor, No.6, L.B.Road, Adyar, Chennai - 600 020.
:Respondent Original Petition praying that this Hon'ble Court may be pleased to
a. to set aside the award dated 24.07.2019, passed by the Arbitrator, between the petitioners and the respondent in the matter of A.C.P(EF) No.CAR 187 of 2019 and in the matter of Arbitration and Conciliation Act 1996.
b. To order costs to the petitioners This Original Petition coming on this day before this court for hearing in the presence of Mr.P.D.Theyzovathi, Advocate for the Petitioners herein, and Mr.K.V.Ananthakrishnan, Advocate for the respondent herein and upon reading the petition and the award dated 24.07.2019 filed herein and the order herein dated 25.11.2019 and the learned counsel for both sides having admitted that the matter in dispute has been settled to the sum of Rs.8 Lakhs (Rupees Eight Lakhs only) and the Petitioners are willing to clear Rs.8 Lakhs (Rupees Eight Lakhs only) as a full and final settlement in three installments in two months period and, It is ordered as follows:
That the time is granted to pay the entire amount of Rs.8 lakhs (Rupees 8 Lakhs only) within a period of two months from this date in three installments.
2. That on payment of the entire amount, the respondent herein shall issue the discharge certificate and documents back to th petitioners.
3. That in default of paying the amount as mentioned in clause (1) supra, as agreed by the petitioners herein, the respondent herein is entitled to proceed as per the award.
WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 29th DAY OF JULY 2021.
Sd./- ASSISTANT REGISTRAR (O.S-II) //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.
KY 12.08.2021 O.P. No.937 of 2019
ORDER
DATED : 29.07.2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR FOR APPROVAL: 16.08.2021 APPROVED ON: 17.08.2021
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 29/7/2021 C O R A M THE HONOURABLE Mr.JUSTICE N.SATHISH KUMAR Arbitration O.P.No.937 of 2019
1. B. Bhuvaneswari
2. B. Karthick Raja ...
Petitioners Vs M/s.Shriram City Union Finance Ltd 123 Angappa Naicken Street Chennai 600 001.
Interalia branch: Sorrento Building I Floor, No.1 L.B.Road Adyar Chennai 600 020.
...
Respondent Arbitration Original Petition has been filed under Section 34 (a) (i) (ii) (b) (ii) of the Arbitration and Conciliation Act, 1996, to set aside the award, dated 24/7/2019, passed by the Arbitrator between the petitioners and the respondent, in the matter of A.C.P.(EF) No.CAR 187 of 2019, in the matter of Arbitration and Conciliation Act, 1996. For applicant ...
Mr.P.D.Theyzovathi For respondent ...
Mr.K.V.Ananthakrishnan - - - - - -
O R D E R
This Original Petition has been filed to set aside the award, dated
24/7/2019, passed by the Arbitrator between the petitioners and the respondent, in the matter of A.C.P.(EF) No.CAR 187 of 2019.
2. Heard Ms.P.D.Theyzovathi, learned counsel for the petitioner and Mr.K.V.Ananthakrishnan, learned counsel for the respondent.
3. It is admitted by both sides that the matter in dispute has been settled to the sum of Rs.8 lakhs (Rupees Eight lakhs only) and the petitioners are willing to clear Rs.8,00,000/- (Rupees Eight lakhs only) as a full and final settlement in three instalments in two months period.
4. Accordingly, time is granted to pay the entire amount of Rs.8 lakhs, within a period of two months, from today, in three instalments. On payment of the entire amount, the respondent shall issue the Discharge Certificate and documents back to the petitioners. In the event of failure to pay the amount, as agreed by the petitioners herein, the respondent is entitled to proceed as per the award.
5. With the above direction, this Original Petition is disposed of. Sd./-N.S.K.J 29.07.2021 //Certified to be true copy// Dated at Madras this the day of 2021.
COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.