The appeals arising from arbitration orders were disposed of based on a settlement where the respondent agreed to receive Rs. 18 lakh plus accumulated interest, and the registry directed the release of deposited funds.
Settlement allowed; Rs. 18 lakh plus interest to be released to respondent.
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) Nos.74, 151 & 153 of 2024
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 10.12.2024
CORAM :
THE HON'BLE MR.K.R.SHRIRAM, CHIEF JUSTICE
AND
THE HON'BLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY
OSA (CAD) Nos.74, 151 & 153 of 2024 & C.M.P.Nos.28502 & 13832 of 2024
OSA (CAD) Nos.74 of 2024
V.Shree Natraj .. Appellant Vs. M/s. Nviz Entertainment (OPC) Pvt. Ltd. Rep. by its Director Mrs.Anita Udeep No.5 & 7, 6th Cross Street Besant Nagar, Chennai 600 090. .. Respondent OSA (CAD) Nos.151of 2024
M/s. Nviz Entertainment (OPC) Pvt. Ltd. Rep. by its Director Mrs.Anita Udeep No.5 & 7, 6th Cross Street Besant Nagar Chennai 600 090. .. Appellant Vs. V.Shree Natraj .. Respondent
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OSA (CAD) Nos.74, 151 & 153 of 2024
OSA (CAD) Nos.153 of 2024 1. M/s. Nviz Entertainment (OPC) Pvt. Ltd. Rep. by its Director Mrs.Anita Udeep No.5 & 7, 6th Cross Street Besant Nagar Chennai 600 090. 2. Anita Udeep ... Appellants Vs. V.Shree Natraj .. Respondent
Prayer : OSA (CAD) Nos.74 & 151 of 2024 under Section Order XXXVI, Rule 9 of the Original Side Rules read with Clause 15 of Letters Patent and Section 37 of the Arbitration and Conciliation Act, 1996 read with Section 13 of Commercial Courts Act, 2013, against the order dated 29.04.2024 passed in Arb. OP (Comm. Div) No.190 of 2021; and
OSA (CAD) No.153 of 2024 under Section Order XXXVI, Rule 9 of the Original Side Rules read with Clause 15 of Letters Patent and Section 37 of the Arbitration and Conciliation Act, 1996 read with Section 13 of Commercial Courts Act, 2013, against the order dated 29.04.2024 passed in A.No.4967 of 2022 in A.No.2240 of 2022 in A.No.217 of 2021, E.P.(D.No.) 6411 of 2021.
For Appellant : Mr.K.V.Babu (OSA(CAD) No.74/24)
Mr.Madhan Babu For Mr.Ramesh Kumar Chopra (OSA(CAD) Nos.151 & 153/24)
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OSA (CAD) Nos.74, 151 & 153 of 2024
Mr.K.V.Babu (OSA(CAD) Nos.151 & 153/24)
JUDGMENT
(Judgment of the Court was delivered by the Hon'ble Chief Justice)
After the appeals were heard for some time, on the suggestion made by the Court, the parties agreed as under:
(a) V.Shree Nataraj be paid a sum of Rs.18.00 lakh (Rupees eighteen lakh only) in full and final settlement, in addition to Rs.7.00 lakh (Rupees seven lakh only) which has been paid before the commencement of the suit;
(b) This amount of Rs.18.00 lakh, which has been deposited by Nviz Entertainment (OPC) Pvt. Ltd. in O.A.Nos.570 & 571 of 2018 in A.No.4374 of 2018, shall be paid over to V.Shree Nataraj;
(c) The Registry is directed to pay over Rs.18.00 lakh together with accumulated interest, if any, to V.Shree Nataraj without any deductions.
Page 3 of 6
OSA (CAD) Nos.74, 151 & 153 of 2024
application from the advocate, enclosing a copy of this order or to act on the authenticated copy of this order to be authenticated by the Court Officer as true copy.
“3. At the same time, we are informed the amount was deposited by appellant on 21st September, 2023. If the amount is lying in non-interest bearing account, it is nothing but an avoidable loss of interest. If invested, the succeeding party may get the amount together with accumulated interest. We, therefore, direct the Registry that in every matter where amount is deposited in the Registry by any party, after one week, unless an order to the contrary is passed by the Court, the amount shall be automatically invested in fixed deposit with a Nationalised Bank for an initial period of at least 13 months to be renewed for like period unless otherwise ordered.
4. Copy of this order be circulated even to Madurai Bench of Madras High Court and to all concerned officers in the High Court.”
Page 4 of 6
OSA (CAD) Nos.74, 151 & 153 of 2024
well. Registry to take immediate action to have all amounts invested as per
the directions in paragraph 3 quoted above.
Consequently, the interim applications also stand disposed of.
(K.R.SHRIRAM, CJ) (SENTHILKUMAR RAMAMOORTHY,J.) 10.12.2024 Index : Yes/No Neutral Citation : Yes/No kpl
To
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OSA (CAD) Nos.74, 151 & 153 of 2024
THE HON'BLE CHIEF JUSTICE AND SENTHILKUMAR RAMAMOORTHY,J.
(kpl)
OSA (CAD) Nos.74, 151 & 153 of 2024
10.12.2024
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1 issue framed by the court
Whether the appeals should be disposed of based on a mutual settlement between the parties.
V.Shree Natraj
V.Shree Natraj
V.Shree Natraj
M/s. Nviz Entertainment (OPC) Pvt. Ltd.
M/s. Nviz Entertainment (OPC) Pvt. Ltd.
M/s. Nviz Entertainment (OPC) Pvt. Ltd.
K.R. Shriram
Senthilkumar Ramamoorthy
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
