THE HON'BLE SRI JUSTICE T. VINOD KUMAR
AND
THE HON'BLE SMT. JUSTICE P.SREE SUDHA
I.A.No.1 of 2022
in/and
Civil Miscellaneous Appeal No.847 of 2018
COMMON JUDGMENT:(per PSS,J)
The present CMA is filed aggrieved by the order dt.25.04.2017
in O.P.(Arbitration) No.211 of 2015 passed by the learned III additional
District Judge, Rangareddy District at L.B.Nagar, in confirming the
Award of the learned Arbitrator dt.12.07.2014 passed in Arbitration
Case No.380 of 2012.
2. Heard learned counsel for the appellants and learned counsel
appearing for the 1st respondent and perused the record.
3. Initially, pursuant to the direction of this Court in I.A.No.1 of 2018 in C.M.A.No.847 of 2018 dt.29.08.2018 for deposit of 50% of the awarded amount to the credit of A.O.P.No.211 of 2015 before the learned III Additional District Judge, Ranga Reddy District at L.B.Nagar, the appellants have deposited a sum of Rs.5,12,603/- before the Court below on 01.01.2018 and after that, the appellants have paid a sum of Rs.3,42,397.50 to the 1st respondent. In view of the payment of above amount, both the parties have amicably settled the matter and the same was reduced into writing, vide Joint Compromise Memo dt.11.06.2022.
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4. In that regard, I.A.No.1 of 2022 is filed seeking to dispose of the CMA in terms of the compromise entered into between the parties, enclosing therewith, the said Joint Memorandum of Compromise.
5. Today, both the parties are present in person before this Court and they have been identified by their respective counsel.
6. The terms of Compromise arrived at by both the parties are that the appellants have agreed to pay a total sum of Rs.8,55,000/- to the 1st respondent towards full and final settlement; that out of the said amount, Rs.5,12,602.50 was already deposited by the appellants before the Court below; that the balance sum of Rs.3,42,397.50 was received by the 1st respondent; that the 1st respondent is entitled to withdraw the said sum of Rs.5,12,602.50 with accrued interest from the Court below; and that the 1st respondent has no further claim from the appellants and accordingly, prays for disposal of the CMA in terms thereof.
7. In view of the above, I.A.No.1 of 2022 is allowed and consequently, the CMA is disposed of in terms of the compromise.
8. Pending miscellaneous petitions, if any, shall stand closed in the light of this final order. No order as to costs.
__________________ T. VINOD KUMAR, J Date:19.01.2023 ________________ P.SREE SUDHA, J GJ 3 THE HON'BLE SRI JUSTICE T. VINOD KUMAR AND THE HON'BLE SMT. JUSTICE P.SREE SUDHA I.A.No.1 of 2022 in/and Civil Miscellaneous Appeal No.847 of 2018 (per Hon'ble Smt. Justice P.Sree Sudha) 19.01.2023 GJ 4