The Court dismissed an appeal filed against an arbitral award. The parties filed a joint memorandum of compromise stating the dispute was settled out of court, thereby extinguishing the cause of action.
Appeal dismissed; no order as to costs.
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HON’BLE SRI JUSTICE A. GOPAL REDDY AND HON’BLE SRI JUSTICE K.S. APPA RAO
C.M.A. No.793 of 2011
Dated: 20-10-2011
Between:
M/s.Omega Health I.T. Solutions Pvt. Ltd., Plot No.55, Krishna Mansion, Sagar Society, Street No.3, Road No.2, Banjara Hills, Hyderabad rep. by its Director B.V.S.Prasad Reddy
…Appellant
AND
P.Narsimha Reddy and another
Respondents
This Court made the following:
HON’BLE SRI JUSTICE A. GOPAL REDDY
AND HON’BLE SRI JUSTICE K.S. APPA RAO
C.M.A. No.793 of 2011
JUDGMENT: (Per Hon’ble Sri Justice A.Gopal Reddy)
This appeal is filed against the judgment of Principal District Judge, R.R.District dated 30.5.2011 dismissing A.O.P.No.874 of 2010 filed under Section 34 of the Arbitration and Conciliation Act, 1996 (for short ‘Act’) seeking to set aside the award of the Arbitrator dated 18.5.2010, whereunder the arbitrator directed the appellant for payment of an amount of Rs.20 lakhs with interest thereon at 24 per cent per annum from the date of filing of the petition under Section 11 of the Act i.e. 11.6.2009 till it is paid along with costs of the application quantified at Rs.80,000/-.
During the pendency of the present appeal, both the parties entered into a compromise and today filed a joint memorandum of compromise stating that the matter has been settled out of the Court for a sum of Rs.22,25,000/- after deducting Rs.25,000/- towards T.D.S. and that Rs.22 lakhs has been paid to the respondents by way of demand drafts bearing No.438511, 438512, 438514 and 438515, all dated 19.10.2011 drawn on City Bank payable at Hyderabad, which were acknowledged by the respondents towards full and final settlement against the award passed by the Arbitrator. That apart, some other terms, as mentioned in the joint memorandum of compromise, have been agreed between the parties.
Now, both the counsel represented that in view of the settlement arrived at by the parties, the cause in the appeal does not survive for adjudication.
Recording the said submission, the appeal is accordingly
dismissed. No order as to costs.
________________ A. GOPAL REDDY, J.
__________________ OCTOBER 20, 2011 K.S. APPA RAO, J. Tsr.
1 provisions across 1 enactments
M/s.Omega Health I.T. Solutions Pvt. Ltd.
P.Narsimha Reddy
A. GOPAL REDDY
K.S. APPA RAO
As recorded by the court registry
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