M/S.Mercedes Bank Fiancial Services India Pvt. Ltd., v. Sreenivasulu Reddy Gangalpaudi
Case brief
What is this about?
Madras High Court, Abdul Quddhose J., 02.04.2025; Mercedes-Benz Financial Services India Pvt Ltd (formerly Daimler Financial Services India Pvt Ltd) v. Sreenivasulu Reddy Gangalapudi (Proprietor, Aparna Automotives); Arb.O.P.(Com.Div.)No.37 of 2025 and Arb.Appln/O.A.No.816 of 2024; amicable settlement; Memorandum of Understanding/Settlement dated 02.04.2025 forming part of order; conditional liberty to petitioner to seek appointment of arbitrator under Section 11 of the Arbitration and Conciliation Act on respondent's default; both matters disposed of; counsel M. Arunachalam for petitioner, P.M. Bakthavatsalam for respondent.
What did the court decide?
Arb.O.P.(Com.Div.)No.37 of 2025 and O.A./Arb.Appln.No.816 of 2024 disposed of in terms of the Memorandum of Understanding/Settlement dated 02.04.2025 (made part of the order); petitioner granted liberty to file a fresh Section 11 application seeking appointment of an Arbitrator in the event the respondent defaults in repayment of dues.