Appeal under Section 37 of the Arbitration and Conciliation Act settled between the parties for Rs.65 lakhs in full and final satisfaction. The court noted the settlement, directed the bank to release frozen funds to respondent No.1 and disposed of the appeal.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
OSA(CAD) No.102 of 2021
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 16.12.2024
CORAM :
THE HON'BLE MR.K.R.SHRIRAM, CHIEF JUSTICE
AND
THE HON'BLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY
O.S.A.(CAD) No.102 of 2021 and C.M.P.No.17724 of 2021
Tamil Nadu Civil Supplies Corporation, rep. by its Managing Director, No.12, ThambuSamy Road, Kilpauk, Chennai-600 010.
.. Appellant
Vs
1.M/s. A1 Champdany Industries Limited, No.25, Princep Street, Kolkatta-700 072.
2.T.Vijayalakshmi No.13, 3rd Street, Malangandapuram, Pallavaram, Chennai-600 043.
.. Respondents
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Prayer : Appeal under Section 13(1) of the Commercial Courts Act read with Section 37 of the Arbitration and Conciliation Act, 1996 read with Clause 15 of the Letters Patent to set aside the decree and judgment dated 21.2.2019 in O.P.No.730 of 2015 and allow the Original Side Appeal.
For Appellant : Mr.M.K.Kabir Senior Counsel for Mr.K.Raghuraman For Respondents : Mr.S.Raghunathan for M/s.B.Giridhar Rao
: Mr.A.Annadurai Managing Director Tamil Nadu Civil Supplies Corporation
[Present in Court]
JUDGMENT
(Delivered by the Hon'ble Chief Justice)
Further to the orders passed by this Court, the last one being on 9th
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December, 2024, the parties have amicably settled the matter. Appellant has agreed to pay, in full and final settlement of all claims of respondent No.1, a sum of Rs.65.00 lakhs, which respondent No.1 has agreed to accept.
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Beneficiary's Name: A1 Champdany Industries Ltd Account No. : 60120668677 Bank Name : Bank of Maharashtra N S Road Branch Kolkata-700 001 IFSC Code : MAHB0000455
The balance amount of Rs.624/- be released to appellant. The amount
shall be released within one working day of receiving a copy of this order from advocate for respondent No.1. The bank shall act on the copy of this order authenticated as true copy by the Court Master of this Court.
(K.R.SHRIRAM, C.J.) (SENTHILKUMAR RAMAMOORTHY,J.) 16.12.2024 Index : Yes/No NC : Yes/No bbr
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To
The Sub-Assistant Registrar (OS) High Court, Madras.
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THE HON'BLE CHIEF JUSTICE AND SENTHILKUMAR RAMAMOORTHY,J.
bbr
O.S.A.(CAD) No.102 of 2021
16.12.2024
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1 issue framed by the court
Whether the appeal could be resolved on the parties' amicable settlement of Rs.65 lakhs in full and final settlement.
2 provisions across 2 enactments
Tamil Nadu Civil Supplies Corporation
M/s. A1 Champdany Industries Limited
T.Vijayalakshmi
K.R.Shriram
Senthilkumar Ramamoorthy
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
