Disposed

Vipin E.V. v. Shriram Transport Finance Company Ltd.

Kerala HC18 Mar 2022AR/37/2022

Case brief

AI extract

What is this about?

The High Court disposed of Arbitration Request AR No. 37 of 2022 wherein parties settled the dispute. The Court permitted petitioners to pay Rs.7 Lakhs in 18 monthly instalments, deferring coercive actions pending payment.

What did the court decide?

Petitioners permitted to pay Rs.7 Lakhs in 18 monthly instalments starting 15/04/2022; coercive action deferred pending payment; default provision recorded.

Vipin E.V. Vs Shriram Transport Finance Company Ltd. — Arbitration | Kerala HC (2022)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT

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THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN

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FRIDAY, THE 18^TH DAY OF MARCH 2022 / 27TH PHALGUNA, 1943

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AR NO. 37 OF 2022

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PETITIONERS:

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1 VIPIN E.V. S/O.A.B.VIJAYAN, ERIYATT HOUSE, KODUVAZHANGA, NEAR MARAYIL TEMPLE, NEERICODE P.O., ALANGAD, ERNAKULAM DISTRICT - 683 511.

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2 ANJALY M.NAIR D/O.MANIKANDAN, MAVELIL HOUE, IRINGOLE P.O., PERUMBAVOOR, KUNNATHUBAD, NEAR IRINJOLEKAVU TEMPLE, ERNAKULAM DISTRICT - 683 548. 3 SYAMALA VIJAYAN D/O.DAMODARAN, ERIYATT HOUSE, KODUVAZHANGA, NEAR MARAYIL TEMPLE, NEERICODE P.O., ALANGAD, ERNAKULAM DISTRICT - 683 511.

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BY ADVS. G.HARIHARAN PRAVEEN.H. K.S.SMITHA V.R.SANJEEV KUMAR SMT.ANJALI T.

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RESPONDENT:

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M/s.SHRIRAM TRANSPORT FINANCE COMPANY LTD., 1ST FLOOR IRIMPAN'S ANGEL RUDHI TOWER, OPP. ST.JOSEPH HIGH SCHOOL, ALUVA ROAD, ANGAMALY, ERNAKULAM DISTRICT - 683 572 REPRESENTED BY ITS SENIOR MANAGER.

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BY ADVS. HARIKUMAR C. - SC SANDRA SUNNY(K/926/2020) ARUN KUMAR M.A(K/1197/2021)

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THIS ARBITRATION REQUEST HAVING COME UP FOR ADMISSION ON 18.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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AR NO. 37 OF 2022 2

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ORDER

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Even though this Arbitration Request has been impelled with several allegations and averments, when this matter was called today, the learned Standing Counsel for the respondent - Shri.C.Harikumar, submitted that if the petitioners are interested in a full and final settlement, his client is willing to offer them a figure which they cannot refuse, namely Rs.7 Lakhs. He submitted that the actual amount due is more than Rs.14 Lakhs and he left it to this Court to fix the number of instalments to be offered to them for final payment.

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Smt.Anjali T. - learned counsel appearing

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for the petitioners, submitted that her clients are willing to accept the afore suggestion and prayed

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that at least 18 monthly instalments be afforded to

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them to pay off the afore mentioned amount of Rs.7 Lakhs.

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In the afore circumstances and writing down the appreciation of this Court for the stand taken

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AR NO. 37 OF 2022 3

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by the respondent, I dispose of this Arbitration Request, recording that parties have arrived at a settlement and thus permitting the petitioners to pay an amount of Rs.7 Lakhs in 18 equal monthly instalments, commencing from 15/04/2022.

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Needless to say, as along as the petitioners continues to make payment in the afore manner, all coercive action against them will stand deferred; but should they default any two of the instalments, then the respondent will be at liberty to recover the balance amount of Rs.7 Lakhs, after giving credit to the instalments paid, without having to obtain any further orders from this Court, as per law.

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Sd/-

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DEVAN RAMACHANDRAN JUDGE

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MC/19.3

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AR NO. 37 OF 2022 4

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APPENDIX OF AR 37/2022

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PETITIONER ANNEXURES

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Annexure	I TRUE COPY OF THE LETTER DATED 30/06/2016 ISSUED BY THE 1ST PETITIONER ADDRESSED TO THE RESPONDENT INTIMATING ABOUT THE SURRENDER OF VEHICLE NO.KL-07BJ-4006.
Annexure	II TRUE COPY OF THE RC STATUS RELATING TO VEHICLE NO.KL-07BJ-4006.
Annexure	III TRUE COPY OF THE COMMUNICATION DATED 25/08/2016 SENT BY THE RESPONDENT ADDRESSED TO THE 1ST PETITIONER.
Annexure	IV TRUE COPY OF THE LAWYER NOTICE DATED 20/06/2018 SENT ON BEHALF OF THE RESPONDENT ADDRESSED TO THE PETITIONERS AND TO THE GUARANTOR.
Annexure	V TRUE COPY OF THE NOTICE DATED 12/09/2018 SENT BY THE SOLE ARBITRATOR SRI.K.V.SACHIDANANTHAN IN CONNECTION WITH ARBITRATION CASE NO.1075/2018.
Annexure	VI TRUE COPY OF THE NOTICE DATED 01/04/2022 ISSUED BY THE RESPONDENT ADDRESSED TO THE PETITIONERS.
Annexure	VII TRUE COPY OF THE POSTAL COVER EVIDENCING RECEIPT OF ANNEXURE VI NOTICE ON 03/01/2022 SENT BY THE RESPONDENT.
Annexure	VIII TRUE COPY OF THE NOTICE DATED 17/01/2022 SENT BY THE PETITIONERS ADDRESSED TO THE RESPONDENT.
Annexure	IX TRUE COPY OF THE INTERIM ORDER PASSED IN CONNECTION WITH A.R.NO.7/2022 DATED 19/01/2022 BY THIS HON'BLE COURT.

Vipin E.V. v. Shriram Transport Finance Company Ltd.

Case brief

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Vipin E.V. v. Shriram Transport Finance Company Ltd.

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