Madras High CourtOP/1104/2018disposed of

State Industries Promotion Corporation Of Tamil Nadu Ltd. v. M/S.Aadhya Logistics Ltd.

2019-06-21Honourable Mr Justice N. Sathish Kumar2 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

Dated : 21.06.2019 Coram:

THE HONOURABLE MR.JUSTICE N. SATHISH KUMAR O.P.No.1104 of 2018 State Industries Promotion Corporation of Tamil Nadu Ltd 19/A, Rukmani Lakshmipathy Road Post Box No.7223 Egmore Chennai - 600 008 Petitioner Vs (*)M/s.Aadya Logistics Ltd Rep by its Proprietor Mr.Madhur Saha No.55, ASV Complex Chennai-Bangalore Highway Thandalam Sriperumbudur - 602 105 Respondent Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside the Award passed on 19.02.2018 by the learned Arbitrator.

For Petitioner :

Mr.Sudharshana Sundar For Respondent :

Mr.N.V.Srinivasan for M/s.NVS Associates

O R D E R

After hearing the matters in detail, when this Court is about to dispose of the Appeal, it is fairly https://hcservices.ecourts.gov.in/hcservices/ submitted by the learned counsel appearing for the

respondent that, if another Rs.50,00,000/- is paid, the matter can be settled. In reply, the learned counsel for the petitioner submitted that to pay a sum of Rs.50,00,000/- in full quit, he requires four weeks time. The said submission is recorded.

2. Accordingly, the petitioner shall pay a sum of Rs.50,00,000/- to the respondent on or before 26.07.2019. If such deposit is not made before the stipulated date fixed by this Court, the interest awarded by the Arbitrator in the impugned order shall apply. Further, it is directed that the respondent shall withdraw a sum of Rs.25,00,000/- already deposited by the petitioner.

3. With the above directions, the Original Petition is disposed of.

Sd./-N.S.K.J 21.06.2019 (*) Corrected as per order dated 30/08/2019 made in O.P.No.1104 of 2018.

Sd/-24/10/2019 ASSISTANT REGISTRAR(O.S.II) Certified to be true copy// Dated at Madras this the day of 2019. JJ 16/07/2019 COURT OFFICER(O.S.) From 25th day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

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