Somasundaram K.C. v. M/S.Kotak Mahindra Prime Limited

HIGH COURT LEGAL SERVICES COMMITTEE, CHENNAI National Lok Adalat organised by the High Court Legal Services Committee Saturday, the 09th day of December 2023 LOK ADALAT AWARD (Chapter VI and u/s 21 of Legal Services Authorities Act, 1987) Presided over by The Hon'ble Mrs.JUSTICE K.GOVINDARAJAN THILAKAVADI and Members Mr.N.Balasubramanian District Judge (Retd.) Mr.R.Ganesan Advocate C.M.A.No.2895 of 2022 and C.M.P.No.22396 of 2022 (Appeal against the order passed in I.A.No.1 of 2021 on 31.10.2022 Arbitration Case No.KMPL/FW/GVD/509/2021 by Mr.V.Pauldas, Arbitrator, Civil Judge SR.Division (Retd.), No.82/106, Perambur, High Road Lane, (South), Jamalia ,Chennai-600 012 Somasundaram K.C .. Appellant Vs.

1.M/s.Kotak Mahindra Prime Limited, Rep. by its Authorised Signatory, MR.Muruganandham, ''Samsun Towers"

6th Floor, 402-L, Pantheon Road, Egmore, Chennai-600 008 2.Kanniappan A .. Respondents

This case came up for settlement before the National Lok Adalat. Both the parties are present. The learned counsel for the appellants Mr.S.Jayakumar and the learned counsel for the 1st respondent, Mr.Rajeni Ramadass are present. After mutual discussion, negotiation, mediation and conciliation between both parties, they arrived at a compromise to settle the matter as follows:

TERMS OF SETTLEMENT Both the parties and their respective counsel are present.

2. The Arbitrator has awarded a sum of Rs.9,27,012/-(Rupees Nine Lakhs Twenty Seven Thousand and Twelve only) with interest at 18% p.a. from the date of petition till the date of deposit as compensation.

3. Not satisfied with the award amount, the appellant has preferred the present appeal. After due deliberations, both parties have agreed to settle the award amount at Rs.5,00,000/-(Rupees Five Lakshs only) in full quit. The 1st respondent has agreed to clear all the CIBIL score post write-off.

4. The appellant is directed to deposit the said sum of Rs.5,00,000/-(Rupees Five Lakhs only), on or before 15.12.2023 before

the 1st respondent-Bank.

5.The award is passed accordingly. Connected MP is closed. Somasundaram K.C Counsel for the appellant 1.M/s.Kotak Mahindra Prime Limited, Rep. by its Authorised Signatory, MR.Muruganandham, ''Samsun Towers"

6th Floor, 402-L, Pantheon Road, Egmore, Chennai-600 008 2.Kanniappan A Counsel for the 1st respondent This National Lok Adalat award is passed in terms of the above settlement.

The Court fee paid shall be refunded to the parties in the manner provided under the Court Fees Act, 1870 as provided for under sub Sec.1

of Section 21 r/w 25 of LSA Act 1987 as amended in 1994. Judge Member Member To The parties/Advocate concerned Copy to:

1.Mr.V.Pauldas, Arbitrator, Civil Judge SR.Division (Retd.), No.82/106, Perambur, High Road Lane, (South), Jamalia ,Chennai-600 012 2.The Secretary, High Court Legal Services Committee, Chennai. 3.The Section Officer, V.R.Section, High Court, Madras. 4.The Section Officer, Lok Adalat Section, High Court, Madras.

K.GOVINDARAJAN THILAKAVADI, J.

vsn C.M.A.No.2895 of 2022 and C.M.P.No.22396 of 2022 09.12.2023