Disposed

Hiranandani Palace Gardens v. M/s Formoplastic Control Pvt.

Madras HC4 Nov 2020OP/305/2017

Case brief

AI extract

What is this about?

The High Court disposed of a petition under Section 34 of the Arbitration and Conciliation Act, 1996 to set aside an award. The court recorded a Memorandum of Compromise signed by the parties and held that it would substitute the impugned award.

What did the court decide?

The Memorandum of Compromise dated 29.10.2020 was recorded as part of the order and substituted in place of the impugned award; no order as to costs.

Hiranandani Palace Gardens Vs M/s Formoplastic Control Pvt. — Arbitration | Madras HC (2020)

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Order in O.P.No.305 of 2017 [Hiranandani Place Gardens Private Ltd., and another Vs. M/s.Formoplastic Control Pvt. Ltd., ]

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED:04.11.2020

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CORAM:

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THE HONOURABLE Mr.JUSTICE M.SUNDAR

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O.P.No.305 of 2017
1. Hiranandani Palace Gardens Private Limited
SIGMA, 6th Floor
Technology Street
HIRANANDANI Business Park
Powai, Mumbai - 400 076.
2. M/s.Hiranandani Palace Gardens Private Limited
514, Dalamal Towers
Nariman Point
Mumbai - 400 021. ... Petitioners
Vs.
M/s.Formoplastic Control Pvt. Ltd.,
3/534, 1 Kundrathur Main Road
Mandanandapuram
Chennai-600 116. ... Respondent

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Original Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 praying to set aside the award dated 27.12.2016 passed in O.P.No.MSEFC/CR/62/2014.

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For Petitioners : Mr.Sharath Chandran For Respondent : Mr.A.K.Sriram M/s.A.S.Kailasam Associates Mr.Prashant T.Rajagopal for Liquidator

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http://www.judis.nic.in

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Order in O.P.No.305 of 2017 [Hiranandani Place Gardens Private Ltd., and another Vs. M/s.Formoplastic Control Pvt. Ltd., ]

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O R D E R

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Captioned original petition has been listed under the cause list

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caption 'FOR REPORTING SETTLEMENT'.

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Today, Mr.Prashant T.Rajagopal, learned counsel on behalf of

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Ms.Chetna Paresh Sutaria (Liquidator), Mr.Sharath Chandran, learned

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counsel on behalf of petitioners and Mr.A.K.Sriram of M/s.A.S.Kailasam Associates (Law Firm) on behalf of lone respondent are before me in this

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web hearing on a video conferencing platform.

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All the 3 aforementioned learned counsel submit that the lis has

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been amicably settled and the parties have entered into a 'Memorandum of Compromise dated 29.10.2020' (hereinafter 'said MOC' for the sake of

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brevity, convenience and clarity).

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To be noted, said MOC duly signed by all the parties has been

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placed before me.

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http://www.judis.nic.in

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Order in O.P.No.305 of 2017 [Hiranandani Place Gardens Private Ltd., and another Vs. M/s.Formoplastic Control Pvt. Ltd., ]

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All the aforementioned counsel makes a request that said MOC

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may please be recorded in captioned OP and that the terms of said MOC will now stand substituted in the place of the impugned award.

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This Court is informed that the parties signed said MOC in the

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presence of one another. To be noted that said MOC is signed by the respective counsel also.

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Adverting to this factum, all the learned counsel also submitted that personal presence of all parties may please be dispensed with for recording of said MOC owing to the virtual hearing and the present obtaining scenario. This request is acceded to.

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Scanned reproduction of said MOC reads as follows:

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http://www.judis.nic.in

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Order in O.P.No.305 of 2017 [Hiranandani Place Gardens Private Ltd., and another Vs. M/s.Formoplastic Control Pvt. Ltd., ]

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http://www.judis.nic.in

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Order in O.P.No.305 of 2017 [Hiranandani Place Gardens Private Ltd., and another Vs. M/s.Formoplastic Control Pvt. Ltd., ]

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http://www.judis.nic.in

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Order in O.P.No.305 of 2017 [Hiranandani Place Gardens Private Ltd., and another Vs. M/s.Formoplastic Control Pvt. Ltd., ]

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The said MOC shall be appended to this order and the same

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shall form part of this order.

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http://www.judis.nic.in

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Order in O.P.No.305 of 2017 [Hiranandani Place Gardens Private Ltd., and another Vs. M/s.Formoplastic Control Pvt. Ltd., ]

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Captioned original petition disposed of recording said MOC

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and holding that the parties will now stand governed by said MOC, which will stand substituted in the place of the impugned award. There

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shall be no order as to costs.

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04.11.2020
Speaking order : Yes/No
Index : Yes/No
Internet : Yes/No
mk

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http://www.judis.nic.in

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Order in O.P.No.305 of 2017 [Hiranandani Place Gardens Private Ltd., and another Vs. M/s.Formoplastic Control Pvt. Ltd., ]

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M.SUNDAR, J.

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O.P.No.305 of 2017
04.11.2020

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http://www.judis.nic.in

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Hiranandani Palace Gardens v. M/s Formoplastic Control Pvt.

Case brief

What is this about?

What did the court decide?

Hiranandani Palace Gardens v. M/s Formoplastic Control Pvt.

Case brief

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