Dismissed

Mr.N.Sathish Kumar v. M/S.Kotak Mahindra Bank

Madras HC27 Nov 2020OP/247/2015

Case brief

AI extract

What is this about?

Original Petition under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside an ex-parte award filed by a borrower against a bank and sole arbitrator. The petition was disposed as closed because the petitioner satisfied the award through a One Time Settlement offer.

What did the court decide?

Captioned Original Petition disposed of as closed. No order as to costs.

Mr.N.Sathish Kumar Vs M/S.Kotak Mahindra Bank — Arbitration | Madras HC (2020)

¶1

O.P.No.247 of 2015

¶2

IN THE HIGH COURT OF JUDICATURE AT MADRAS

¶3

Dated : 27.11.2020

¶4

Coram

¶5

THE HONOURABLE MR. JUSTICE M.SUNDAR

¶6

O.P.No.247 of 2015

¶7

Ms.N.Sathish Kumar

¶8

Sri Murugan Motors and Earth Movers
No.593-1, NH 47, Gold Coins Avinashi Road
Civil Airodrome Post, Coimbatore
Pin- 641 014. ... Petitioner
vs.
1. M/s.Kotak Mahindra Bank Ltd.,
Rep. by its Authorised Signatory
2nd Floor, 3 Dass India Tower
2nd Line Beach, Parrys
Chennai-600 001.
2. D.Saravanan
Sole Arbitrator
Orient Chambers
4th Floor, No.90/73, Armenian Street
Chennai-600 001.

¶9

Mr.D.Ravindhar No.23A, East Car Street Senda Palayam Post Veerakeralam, Coimbatore Pin-641 007.

¶10

Mr.S.C.Doraiswamy No.23A, East Car Street Senda Palayam Post Veerakeralam, Coimbatore Pin-641 007. ... Respondents

¶11

http://www.judis.nic.in

¶12

Page No.1/4

¶13

O.P.No.247 of 2015

¶14

Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside the ex-parte award of the sole Arbitrator / 2nd respondent passed in A.C.P.(Kotak) No.301 of 2011 dated 15.12.2014 as against the petitioner herein with costs.

¶15

For petitioner : Mr.S.Saravanan For Respondents : Mr.Kiran Manokaran for Mr.K.Moorthy for R1

¶16

O R D E R

¶17

Captioned 'Original Petition' ('OP' for the sake of brevity) has

¶18

been listed under the caption 'FOR REPORTING SETELEMENT'.

¶19

Mr.S.Saravanan, learned counsel on record for sole petitioner

¶20

and Mr.Kiran Manokaran, learned counsel representing Mr.K.Moorthy,

¶21

counsel on record for contesting first respondent are before me in this web hearing on a video conferencing platform.

¶22

Learned counsel for petitioner has filed a memo dated

¶23

19.11.2020 enclosing 'One Time Settlement offer' ['OTS' for the sake of

¶24

convenience and clarity] from contesting first respondent, photo copies

¶25

of demand draft paid by sole petitioner pursuant to OTS and more importantly, a communication dated 19.11.2020 from the contesting first respondent wherein, contesting first respondent has confirmed that

¶26

payment pursuant to OTS has been received by way of demand draft towards full and final settlement of the loan account. This memo with

¶27

http://www.judis.nic.in

¶28

Page No.2/4

¶29

O.P.No.247 of 2015

¶30

enclosures shall be annexed to this order and shall form part of this order. Scanned copy of letter/receipt dated 19.11.2020 of contesting first respondent is as follows:

¶31

http://www.judis.nic.in

Page No.3/4

O.P.No.247 of 2015

M.SUNDAR.J.,

Aforementioned learned counsel on both sides submit in

¶37

unison that the impugned award now stands fully satisfied in terms of OTS and therefore, nothing survives in captioned OP. This common submission of both learned counsel is recorded and captioned OP is disposed of as closed recording the above narrative. There shall be no order as to costs. 27.11.2020 Speaking/Non-speaking order Index : Yes / No Internet : Yes / No mk

¶38

O.P.No.247 of 2015

¶39

http://www.judis.nic.in

¶40

Page No.4/4

Mr.N.Sathish Kumar v. M/S.Kotak Mahindra Bank

Case brief

What is this about?

What did the court decide?

Mr.N.Sathish Kumar v. M/S.Kotak Mahindra Bank

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

M/s Roman Tarmat Ltd, Rep. by its General Manager, Mr.N.v.Natarajan, Vs The Chief Engineer Highway, Metro/Employer

M/s Elysium Properties India Pvt. Ltd, Vs M/s Potential Engineers and Contractors, Rep.by its Proprietor

The Official Liquidator, High Court, Madras Vs nil

M/S.Keerti Shoes India Pvt. Ltd. Vs M/S.Shriram City Union Finance

Ms.N.Sathish Kumar Vs M/S.Kotak Mahindra Bank Ltd.

Sacred Heart Educational Trust, Rep by its Rex Abraham Managing Trustee, Vs M/s.Idfc First Bank Ltd. Rep by its Authorised Signatory, Mr.Gaurav Chordia