Madras High Court
Ms.N.Sathish Kumar vs M/S.Kotak Mahindra Bank Ltd on 27 November, 2020
Author: M.Sundar
Bench: M.Sundar
O.P.No.247 of 2015
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated : 27.11.2020
Coram
THE HONOURABLE MR. JUSTICE M.SUNDAR
O.P.No.247 of 2015
Ms.N.Sathish Kumar
Sri Murugan Motors and Earth Movers
No.593-1, NH 47, Gold Coins Avinashi Road
Civil Airodrome Post, Coimbatore
Pin- 641 014. ... Petitioner
vs.
1. M/s.Kotak Mahindra Bank Ltd.,
Rep. by its Authorised Signatory
2nd Floor, 3 Dass India Tower
2nd Line Beach, Parrys
Chennai-600 001.
2. D.Saravanan
Sole Arbitrator
Orient Chambers
4th Floor, No.90/73, Armenian Street
Chennai-600 001.
3. Mr.D.Ravindhar
No.23A, East Car Street
Senda Palayam Post
Veerakeralam, Coimbatore
Pin-641 007.
4. Mr.S.C.Doraiswamy
No.23A, East Car Street
Senda Palayam Post
Veerakeralam, Coimbatore
Pin-641 007. ... Respondents
http://www.judis.nic.in
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O.P.No.247 of 2015
Original Petition filed under Section 34 of the Arbitration and
Conciliation Act, 1996, to set aside the ex-parte award of the sole
Arbitrator / 2nd respondent passed in A.C.P.(Kotak) No.301 of 2011
dated 15.12.2014 as against the petitioner herein with costs.
For petitioner : Mr.S.Saravanan
For Respondents : Mr.Kiran Manokaran
for Mr.K.Moorthy for R1
ORDER
Captioned 'Original Petition' ('OP' for the sake of brevity) has been listed under the caption 'FOR REPORTING SETELEMENT'.
2. Mr.S.Saravanan, learned counsel on record for sole petitioner and Mr.Kiran Manokaran, learned counsel representing Mr.K.Moorthy, counsel on record for contesting first respondent are before me in this web hearing on a video conferencing platform.
3. Learned counsel for petitioner has filed a memo dated 19.11.2020 enclosing 'One Time Settlement offer' ['OTS' for the sake of convenience and clarity] from contesting first respondent, photo copies of demand draft paid by sole petitioner pursuant to OTS and more importantly, a communication dated 19.11.2020 from the contesting first respondent wherein, contesting first respondent has confirmed that payment pursuant to OTS has been received by way of demand draft towards full and final settlement of the loan account. This memo with http://www.judis.nic.in Page No.2/4 O.P.No.247 of 2015 enclosures shall be annexed to this order and shall form part of this order. Scanned copy of letter/receipt dated 19.11.2020 of contesting first respondent is as follows:
http://www.judis.nic.in Page No.3/4 O.P.No.247 of 2015 M.SUNDAR.J., mk
4. Aforementioned learned counsel on both sides submit in unison that the impugned award now stands fully satisfied in terms of OTS and therefore, nothing survives in captioned OP. This common submission of both learned counsel is recorded and captioned OP is disposed of as closed recording the above narrative. There shall be no order as to costs.
27.11.2020 Speaking/Non-speaking order Index : Yes / No Internet : Yes / No mk O.P.No.247 of 2015 http://www.judis.nic.in Page No.4/4