Madras High Court
M/S.Shriram City Union Finance ... vs Govindan on 20 March, 2023
CRP.No.475 of 2020
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 20.03.2023
CORAM:
THE HONOURABLE MRS.JUSTICE N.MALA
CMA.No.475 of 2020
M/s.Shriram City Union Finance Ltd.,
Rep. by their Authorised Signatory,
having office at
No.15, Rangapillai Street,
Puducherry-1 ... Appellant
Vs.
1.Govindan
2.Santhanam
3.K.Murugaiyan
4.M.Janagi
5.Prema ... Respondents
PRAYER:
Civil Miscellaneous Appeal is filed under Section 37 of Arbitration &
Conciliation Act of 1996 to set aside the order and decretal order dated
14.12.2015 passed by the Principal District Judge at Puducherry in Arbitration
OP.No.70 of 2014 in allowing the appeal.
For Appellant : Mr.K.V.Ananthakrushnan
For respondents : Mr.K.Sasindran
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Page 1 of 6
CRP.No.475 of 2020
JUDGMENT
This civil miscellaneous appeal has been filed to set aside the
order and decretal order dated 14.12.2015 passed by the Principal District
Judge at Puducherry in Arbitration OP.No.70 of 2014.
2. It is submitted by both the learned counsels that the parties have
entered into amicable settlement and a joint compromise memo dated
20.03.2023 has been filed by the appellant and the respondents, the terms of
which is extracted hereunder:
1) The appellant company has agreed to receive a sum
of Rs.7,40,000/- (Seven Lakhs Forty Thousand only) towards
full and final settlement of the award dated 10.09.2012 made
in ACP.No.175 of 2012 in respect of the loan account
No.KTKPMTF05300002 dated 27.05.2011 availed by the
respondents herein
2) The respondents namely the borrower and the co-
borrowers have agreed to pay a sum of Rs.7,40,000/- (Seven
Lakhs Forty Thousand only) towards full and final settlement
of the award dated 10.09.2012 made in ACP.No.175 of 2012 in
respect of the loan amount in three installments as scheduled
under:
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CRP.No.475 of 2020
(i) First instalment – Rs.2,40,000/- payable on or before
05.04.2023
(ii)Second instalment – Rs.2,50,000/- payable on or
before 05.05.2023
(iii)Third instalment – Rs.2,50,000/- payable on or
before 05.06.2023
3) On payment of the entire amount on or before
05.06.2023, and in one month from the said date the appellant
agreed to handover all the original documents of title deeds
relating to the property given as security by the respondents at
the time of availing the loan and clear the encumbrance
4) The appellant agreed to issue a No Due Certificate to
the respondents after the receipt of third and final installment
from the respondents.
5) The appellant agreed that except the above-
mentioned amount, they will not claim any amount in future
from the respondents in relation to the loan account in issue.
6) It is agreed by the respondents that if they failed to
pay the instalment amount, then the appellant is entitled to
recover the amount as per award dated 10.09.2012 made in
ACP.No.175 of 2012
7) Both the parties agreed to dispose off the
CMA.No.475 of 2020 on the file of this Hon'ble Court, in
terms of this compromise memo without cost.
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CRP.No.475 of 2020
3. Accordingly, this civil miscellaneous appeal is disposed of in terms
of the above joint compromise memo. The said joint compromise memo dated
20.03.2023 shall form part and parcel of the decree. There shall be no order as
to costs.
20.03.2023
Index :Yes/No
Internet : Yes/No
Speaking order/non-speaking order
lok
https://www.mhc.tn.gov.in/judis
CRP.No.475 of 2020
https://www.mhc.tn.gov.in/judis
CRP.No.475 of 2020
N.MALA, J.
lok
To
Principal District Judge at Puducherry
CMA.No.475 of 2020
20.03.2023
https://www.mhc.tn.gov.in/judis
