Sri Kesineni Srinivas v. Shriram Transport F C L
Case brief
What is this about?
Compromise closure of arbitration appeal: I.A. 1/2024 in C.M.A. 96/2019, AP High Court Amaravati, order dated 24.01.2025 per Ninala Jayasurya J. (bench with Sumathi Jagadam J.). Appeal under sec.37(1)(c) Arbitration and Conciliation Act 1996 by Kesineni Srinivas and Tatineni Rambabu against confirmation by II Addl. District Judge, Vijayawada (ARB.O.P.No.172 of 2016, order 12.12.2018) of sole arbitrator Justice Y Venkatachalam's award dated 20.09.2016 in Arbitration O.P. 129 of 2014; claimant M/s Shriram Transport Finance Co. Ltd. Joint petition under Section 151 CPC / Order 23 Rule 3 CPC to record compromise memo dated 04.11.2024; Rs. 3,50,00,000 full-and-final settlement via two cheques (Rs. 50,00,000 Indian Bank; Rs. 3,00,00,000 ICICI Bank); I.A. allowed, appeal closed as compromised, no costs, compromise memo to be annexed; connected C.M.A.s of 2019 (Nos. 86-127 series) also settled; counsel: S.S. Prasad, Senior Counsel (appellants), C. Sindhu Kumari, O. Udaya Kumar (respondent No.1).