Value Shipping Limited vs Owners And Parties Interested In The ...
2024 Latest Caselaw 15649 Mad

Madras High Court

Value Shipping Limited vs Owners And Parties Interested In The ... on 12 August, 2024

Author: Senthilkumar Ramamoorthy

Bench: Senthilkumar Ramamoorthy

                                                                      C.S.(Comm.Div.) No.4 of 2024

                                  IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                DATED: 12.08.2024

                                                     CORAM

                        THE HONOURABLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY

                                           C.S.(Comm.Div.) No.4 of 2024


                     Value Shipping Limited
                     Represented by its Constituted Attorney
                     Mr.Ravi Meenakshisundaram
                     Registration No.119522
                     A Company incorporated under the Laws of
                     Marshall Islands Business Corporations Act
                     and having its registered office at
                     Trust Company Complex,
                     Ajeltake Road, Ajeltake Island, Majuro,
                     Republic of the Marshall Islands MH96960                      ...
                     Plaintiff
                                                       -vs-


                     Owners and Parties interested in the Vessel
                     MV Navdhenu Purna (IMO No.9339765)
                     An Indian Flag Vessel registered at a Mumbai
                     together with her hull, tackle, engines,
                     machinery, boats, bunkers, equipment,
                     paraphernalia and all other appurtenances
                     Presently lying at V.O. Chidambaranar Port,
                     Tuticorin, in Indian territorial
                     Waters and represented by its Master                       ... Defendant



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https://www.mhc.tn.gov.in/judis
                                                                            C.S.(Comm.Div.) No.4 of 2024




                     PRAYER: Civil Suit (Commercial Division) filed under Order VII

                     Rule 1 of CPC Read With Order IV Rule 1 of the Madras High Court

                     O.S.Rules Read With Sections 3 & 4 of the Admirality (Jurisdiction

                     and Settlement of Maritime Claims) Act, 2017 and Section 7 of the

                     Commercial Court Act, 2015, prays for a judgment and decree

                     against the Defendant vessel as follows:

                                  (a) To direct the Defendant to pay a sum of USD 2,851,285.49/-

                     (USD Two Million Eight Hundred Fifty One Thousand Two Hundred

                     Eighty Five and Forty Nine Cents Only) equivalent to INR

                     Rs.23,66,56,696/- (Rupees Twenty Three Crores Sixty Six Lacs Fifty

                     Six Thousand Six Hundred Ninety Six Only) (calculated @

                     Rs.83/USD) as per particulars of claim filed with the suit along with

                     further intrest @ 8% p.a from the date of filing of the suit till the date

                     of payment and / or realization;

                                  (b) For arrest and sale of the Defendant Vessel, MV Navdhenu

                     Purna (IMO: 9339765) in as is where is condition, together with her

                     hull, tackle, engines, machinery, boats, bunkers, equipment,


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https://www.mhc.tn.gov.in/judis
                                                                                   C.S.(Comm.Div.) No.4 of 2024

                     paraphernalia and all other appurtenances presently lying at V.O.

                     Chidambaranar Port, Tuticorin, in Indian territorial waters;

                                  (c) For costs of the suit.



                                  For Plaintiff        : Mr.Prathamesh Kamat
                                                         for M/s.Rahul M.Shankhar

                                  For Defendant        : M/s.Deepika Murali

                                                               **********


                                                           JUDGMENT

The plaintiff and defendant have executed a joint

memorandum of compromise dated 12.08.2024. Pursuant thereto,

the plaintiff seeks to withdraw the suit and claims refund of Court

fee. An endorsement has been made for withdrawal.

2. By taking note of the endorsement C.S.(Comm.Div.) No.4 of

https://www.mhc.tn.gov.in/judis

2024 is dismissed as withdrawn without any order as to costs. Since

such withdrawal is prior to recording evidence, Court fee is directed

to be refunded. In view of the parties reaching a settlement, the

Registrar General is directed to handover the original bank guarantee

to the defendant.

12.08.2024 rna Index : Yes / No Internet : Yes / No Neutral Citation: Yes / No

SENTHILKUMAR RAMAMOORTHY,J

https://www.mhc.tn.gov.in/judis

rna

12.08.2024

https://www.mhc.tn.gov.in/judis