Madras High Court
Alltran Worldwide Logistics vs Owners And Parties Interested on 20 September, 2024
Author: Senthilkumar Ramamoorthy
Bench: Senthilkumar Ramamoorthy
C.S.No.960 of 2001
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 20.09.2024
CORAM
THE HONOURABLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY
C.S.No.960 of 2001
and A.Nos.34, 35, 36, 47, 48 & 49 of 2002
1.Alltran Worldwide Logistics
No.54, III Floor, Coral Merchant Street
Chennai 600 001
Represented by its Partner Mr.Sanjay Sethu
2.Hind Shipping Agencies
(Proprietor Tulsi Shipping Pvt. Ltd.)
201, Janmaboomi Chambers
29, Walchand Hirachand Marg
Ballard Estate
Mumbai 400 038
Represented by its Power of Attorney Holder
V.Balasubramani ...
Plaintiffs
-vs-
Owners and Parties Interested
In the Vessel MV Banglar Kakoli
Now Lying at the Port of Chennai
By its Master ... Defendant
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C.S.No.960 of 2001
PRAYER: Civil Suit filed Order XLII Rule III of O.S.Rules, praying to
grant a judgment and decree on the following terms:-
(a) For a sum of US Dollars 21,519.50 equivalent to
Rs.10,32,936/- calculated as per the prevailing exchange rate of 1
USD = 48 Indian Rupees, together with interest at 24% p.a., from the
date of this plaint till date of realization or such higher sum of Indian
Rupees equivalent to the exchange rate prevailing on the date of the
judgment whichever is higher.
(b) For arrest and sale of the defendant Vessel MV Banglar
Kakoli in as is where is condition, presently in Indian Waters at the
Port of Chennai.
(c) For a direction to adjust the sale proceeds against the suit
claim with interest and costs of the suit.
(d) For costs of this suit.
For Plaintiff 1 : Mr.M.B.Gopalan
For Plaintiff 2 : Mr.S.Vasudevan
for Mr.V.Manisekaran
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C.S.No.960 of 2001
For Defendant : Mr.R.Premkumar
for M/s.King and Partridge
**********
JUDGMENT
The suit was originally field by Compass Shipping and Trading
Private Limited as an admiralty action for recovery of a sum of US
Dollars 21,519.50, which is equivalent to Rs.10,32,936 at the exchange
rate of 1 USD is equal to 48 INR. Subsequently, by order dated
04.04.2024 in A.Nos.35 and 48 of 2002, Alltran Worldwide Logistics
and Hind Shipping Agencies, who were intervenors, were
substituted as plaintiffs.
2. Pursuant to negotiations between the present plaintiffs and
the defendant, the said parties have executed a joint Memorandum of
Compromise and placed the same on the file of this Court. No other
party has intervened in this suit. The said joint Memorandum of
Compromise has been executed by the first plaintiff, the second
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plaintiff, the defendant and their respective counsel. Clause 5 thereof
is as under:
“5. The plaintiffs and the defendant agree that this
Hon'ble Court may direct the Registrar General of this
Hon'ble Court to invoke the Bank Guarantee (original
guarantee filed along with this compromise memo) by
making a suitable endorsement with a direction of this
Honourable Court to the HSBC Bank as follows:
i. Out of the amount so invoked from the Guarantee, a
sum of Rs.12,59,550/- shall be paid to the 1 st plaintiff by
issuing a Demand Draft in the name of the 1st plaintiff.
ii. And sum of Rs.1,67,940/- shall be paid to the 2 nd
plaintiff by issuing a Demand Draft in the name of 2 nd
plaintiff.
iii. On settlement of the above sum as mentioned in
sub-clauses (i) & (ii), the remaining entire balance amount
shall be paid to the owners of the Defendant vessel viz
Bangladesh Shipping Corporation having address at BSC
Bhaban, Saltgola Road, Chattogram – 4100 Bangladesh.”
3. Upon examining the materials on record, I find no legal
impediment to the disposal of the suit in terms of the Memorandum
of Compromise.
4. Consequently, C.S.No.960 of 2001 is decreed in terms of the
joint Memorandum of Compromise dated 20.09.2024, which shall
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form an integral part of the decree. Consequently, the Registrar
General is directed to invoke the bank guarantee executed and
renewed periodically by the Hongkong and Shanghai Banking
Corporation Limited so as to make disbursements in terms of clause
5, which has been extracted above. The Registrar General is further
directed to make payments through electronic fund transfer in
accordance with particulars provided by the respective party to the
Registry. The parties shall bear their own costs. Consequently,
A.Nos.34, 35, 36, 47, 48 and 49 of 2002 are closed.
20.09.2024
rna
Index : Yes / No
Internet : Yes / No
Neutral Citation: Yes / No
SENTHILKUMAR RAMAMOORTHY,J
rna
https://www.mhc.tn.gov.in/judis
and A.Nos.34, 35, 36, 47, 48 & 49 of 2002
20.09.2024
https://www.mhc.tn.gov.in/judis
