Disposed

K. Arumugam v. M/s. Venkatesh and Co., Represented by K.Venkatesh

Madras HC25 Oct 2021OP/392/2005

Case brief

AI extract

What is this about?

This court disposed of two arbitration-related original petitions on a settlement. The parties executed a Joint Memo of Compromise regarding the delivery of shares and refund of deposited funds, resolving all claims between them.

What did the court decide?

The petitions were disposed of based on a settlement agreement; M/s. Venkatesh & Co to pay Rs. 10 lakhs to K. Arumugam and release funds deposited by M/s. Venkatesh & Co to withdraw.

K. Arumugam Vs M/s. Venkatesh and Co., Represented by K.Venkatesh — Arbitration | Madras HC (2021)

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O.P.Nos.392/2005 and 370 of 2007

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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Dated: 21/10/2021

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C O R A M

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THE HONOURABLE MR.JUSTICE N. SATHISH KUMAR

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O.P. Nos. 392 of 2005 and 370 of 2007
O.P.No.392 of 2005
K. Arumugam ... Petitioner
Vs
1. M/s. Venkatesh & Co
rep. By Mr.K.Venkatesh
98 A Kovai Road
Karur 2.
2. M/s. Anush Shares and Securities Pvt Ltd
No.59, I Floor
Greenways Road
Chennai.
3. Mr.K. Ramanujam
Sole Arbitrator
National Stock Exchange of India Ltd
7 th Floor Arihant Nitco Park
90 Dr. Radhakrishnan Salai
Mylapore
Chennai 700 004. ... Respondents

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http://www.judis.nic.in

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O.P.Nos.392/2005 and 370 of 2007

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a n d

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Arb.O.P.370 of 2007

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Venkatesh & Co ... Petitioner Vs 1. K. Arumugham 2. M/s. Anush Shares and Securities Pvt Ltd 3. K. Ramanujam ... Respondents PRAYER in O.P.No.392 of 2005: Petition filed under Section 34 of Arbitration and Conciliation Act, 1996, to set aside the order passed by the third respondent in Review Application dated 21/6/2004 by directing the first respondent to deliver 4250 shares of Karur Vysya Bank to the applicant. PRAYER in O.P.No.370 of 2007: Petition filed under Section 34 of Arbitration and Conciliation Act, 1996, to set aside the award dated 18/4/2004.

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For Petitioner ... Mr.T.Mohan (O.P.No.392 of 2005) For respondents ... Mr.M.S.Krishnan (O.P.No.392 of 2005) Senior Counsel

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http://www.judis.nic.in

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O.P.Nos.392/2005 and 370 of 2007

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for M/s. Sarvabhauman Associates for R.1

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For petitioner ... Mr.M.S.Krishnan (O.P.No.370 of 2007) Senior Counsel for M/s. Sarvabhauman Associates for R.1

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For respondent ... Mr.C.T.Mohan
(O.P.No.370 of 2007)
- - - - -
C O M M O N O R D E R
Original Petition No.392 of 2005 has been filed to set aside the order
passed by the third respondent in Review Application dated 21/6/2004 by
directing the first respondent to deliver 4250 shares of Karur Vysya Bank to the
applicant.

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Original Petition No.370 of 2007 has been filed to set aside the award dated 18/4/2004.

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Heard the learned counsel appearing on either side.

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Page No:3/6

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http://www.judis.nic.in

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O.P.Nos.392/2005 and 370 of 2007

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Today, when the matters are taken up for hearing, Mr.C.T.Mohan, learned counsel for the petitioner in O.P.No.392 of 2005, produced a Joint Memo of Compromise, dated 21^st October 2021, wherein it is stated that matter has been settled between the parties. It is agreed that the first respondent in O.P.No.392 of 2005 (M/s. Venkatesh & Co) shall pay a sum of Rs.10,00,000/(Rupees Ten lakhs only) to the petitioner in O.P.No.392 of 2005 (Mr.Arumugam) as full and final settlement of all the claims between both of

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them, within a period of one month.

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It is further stated in the Joint Memo of Compromise that the petitioner in O.P.No.370 of 2007 (M/s.Venkatesh & Co) shall be entitled to withdraw the amount deposited by him with National Stock Exchange for paying the aforesaid sum of Rs.10,00,000/- towards full and final settlement to Mr.Arumugam. Petitioner in O.P.No.392 of 2005 Mr.Arumugam shall withdraw the petition in Crl.R.C(MD) No.139 of 2017, pending on the file of Madurai Bench of Madras High Court. In view of the settlement reached between that parties, National Stock Exchange shall realise the funds deposited in this regard to the petitioner in O.P.No.370 of 2007.

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http://www.judis.nic.in

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O.P.Nos.392/2005 and 370 of 2007

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It is further stated that in the Joint Memo of Compromise that after the

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payment of Rs.10,00,000/- towards full and final settlement by M/s. Venkatesh

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& Co to Mr.Arumugam, both the parties shall not have any right or claim
against each other.
7. In view of the settlement arrived at between the parties, these Original
Petitions are disposed of. Joint Memo of Compromise shall form part of the
records.
21/10/2021
Index : Yes / No
Internet: Yes
Speaking/non speaking order
mvs.

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O.P.Nos.392/2005 and 370 of 2007

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N. SATHISH KUMAR, J
mvs.
O.P. Nos. 392 of 2005 and 370 of 2007

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http://www.judis.nic.in

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O.P.Nos.392/2005 and 370 of 2007

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21/10/2021

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http://www.judis.nic.in

K. Arumugam v. M/s. Venkatesh and Co., Represented by K.Venkatesh

Case brief

What is this about?

What did the court decide?

K. Arumugam v. M/s. Venkatesh and Co., Represented by K.Venkatesh

Case brief

What is this about?

What did the court decide?

What the court decided

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