Dismissed

Value Shipping Limited v. Owners and Parties Interested in the Vessel

Madras HC12 Aug 2024C.S(COMM DIV)/4/2024

Case brief

AI extract

What is this about?

An admiralty suit claiming USD 2,851,285.49 against the vessel MV Navdhenu Purna and seeking its arrest was withdrawn following a joint memorandum of compromise between the parties. The Court dismissed the suit as withdrawn without costs, directed refund of the court fee since withdrawal preceded evidence, and ordered return of the original bank guarantee.

What the court decided

AI extract

Value Shipping Limited Vs Owners and Parties… — Contract and Commercial Disputes | Madras HC (2024)

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C.S.(Comm.Div.) No.4 of 2024

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED : 12.08.2024

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CORAM

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THE HONOURABLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY

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C.S.(Comm.Div.) No.4 of 2024

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Value Shipping Limited Represented by its Constituted Attorney Mr.Ravi Meenakshisundaram Registration No.119522 A Company incorporated under the Laws of Marshall Islands Business Corporations Act and having its registered office at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 ... Plaintiff

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-vs-

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Owners and Parties interested in the Vessel MV Navdhenu Purna (IMO No.9339765) An Indian Flag Vessel registered at a Mumbai together with her hull, tackle, engines, machinery, boats, bunkers, equipment, paraphernalia and all other appurtenances Presently lying at V.O. Chidambaranar Port, Tuticorin, in Indian territorial Waters and represented by its Master ... Defendant

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1/5

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https://www.mhc.tn.gov.in/judis

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C.S.(Comm.Div.) No.4 of 2024

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PRAYER

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PRAYER : Civil Suit (Commercial Division) filed under Order VII Rule 1 of CPC Read With Order IV Rule 1 of the Madras High Court O.S.Rules Read With Sections 3 & 4 of the Admirality (Jurisdiction and Settlement of Maritime Claims) Act, 2017 and Section 7 of the Commercial Court Act, 2015, prays for a judgment and decree against the Defendant vessel as follows:

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(a) To direct the Defendant to pay a sum of USD 2,851,285.49/(USD Two Million Eight Hundred Fifty One Thousand Two Hundred Eighty Five and Forty Nine Cents Only) equivalent to INR Rs.23,66,56,696/- (Rupees Twenty Three Crores Sixty Six Lacs Fifty Six Thousand Six Hundred Ninety Six Only) (calculated @ Rs.83/USD) as per particulars of claim filed with the suit along with further intrest @ 8% p.a from the date of filing of the suit till the date of payment and / or realization;

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(b) For arrest and sale of the Defendant Vessel, MV Navdhenu Purna (IMO: 9339765) in as is where is condition, together with her hull, tackle, engines, machinery, boats, bunkers, equipment,

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2/5

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https://www.mhc.tn.gov.in/judis

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C.S.(Comm.Div.) No.4 of 2024

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paraphernalia and all other appurtenances presently lying at V.O. Chidambaranar Port, Tuticorin, in Indian territorial waters;

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For Plaintiff : Mr.Prathamesh Kamat for M/s.Rahul M.Shankhar

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For Defendant : M/s.Deepika Murali

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JUDGMENT

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The plaintiff and defendant have executed a joint

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memorandum of compromise dated 12.08.2024. Pursuant thereto, the plaintiff seeks to withdraw the suit and claims refund of Court

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fee. An endorsement has been made for withdrawal.

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By taking note of the endorsement C.S.(Comm.Div.) No.4 of

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3/5

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https://www.mhc.tn.gov.in/judis

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C.S.(Comm.Div.) No.4 of 2024

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2024 is dismissed as withdrawn without any order as to costs. Since such withdrawal is prior to recording evidence, Court fee is directed to be refunded. In view of the parties reaching a settlement, the Registrar General is directed to handover the original bank guarantee to the defendant.

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12.08.2024

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rna Index : Yes / No Internet : Yes / No Neutral Citation: Yes / No

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SENTHILKUMAR RAMAMOORTHY,J

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4/5

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https://www.mhc.tn.gov.in/judis

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C.S.(Comm.Div.) No.4 of 2024

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rna

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C.S.(Comm.Div.) No.4 of 2024

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12.08.2024

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5/5

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https://www.mhc.tn.gov.in/judis

Value Shipping Limited v. Owners and Parties Interested in the Vessel

Case brief

What is this about?

What the court decided

Value Shipping Limited v. Owners and Parties Interested in the Vessel

Case brief

What is this about?

What the court decided

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