Somasundaram K.C. v. M/S.Kotak Mahindra Prime Limited
Case brief
What is this about?
This National Lok Adalat award records a mutually agreed settlement between the appellant and the first respondent. The parties settled an arbitrator's award and the connected complaint by agreeing to a reduced lump sum payment and credit clearance.
What did the court decide?
Appellant directed to deposit Rs.5,00,000 with 1st Respondent bank on or before 15.12.2023; 1st Respondent to clear CIBIL entries post write-off.
What the court decided
1
HIGH COURT LEGAL SERVICES COMMITTEE, CHENNAI National Lok Adalat organised by the High Court Legal Services Committee Saturday, the 09th day of December 2023
LOK ADALAT AWARD
(Chapter VI and u/s 21 of Legal Services Authorities Act, 1987) Presided over by
The Hon'ble Mrs.JUSTICE K.GOVINDARAJAN THILAKAVADI and
Members
Mr.N.Balasubramanian District Judge (Retd.)
Mr.R.Ganesan Advocate
C.M.A.No.2895 of 2022 and
C.M.P.No.22396 of 2022
(Appeal against the order passed in I.A.No.1 of 2021 on 31.10.2022 Arbitration Case No.KMPL/FW/GVD/509/2021 by Mr.V.Pauldas, Arbitrator, Civil Judge SR.Division (Retd.), No.82/106, Perambur, High Road Lane, (South), Jamalia ,Chennai-600 012
Issues for consideration
2 issues framed by the court
Whether the terms of settlement reached by both parties in a Lok Adalat can be accepted as a final award.
Whether the appellant is directed to deposit the agreed settlement amount with the respondent bank.
Parties & counsel
- appellant
Somasundaram K.C.
- respondent
M/s.Kotak Mahindra Prime Limited
- respondent
Kanniappan A
Coram
Case details
As recorded by the court registry
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