Madras High Court
Golden Harvest Shipping Service Co. Ltd vs Owners And Parties Interested In The ... on 5 March, 2021
Author: C.V.Karthikeyan
Bench: C.V.Karthikeyan
C.S.No.222 of 2009
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 05.03.2021
CORAM:
THE HON'BLE JUSTICE C.V.KARTHIKEYAN
C.S.No.222 of 2009
Golden Harvest Shipping Service Co. Ltd.,
No.1405 Yixian Road, Shanghai 200439,
P.R.China Represented by its Power Agent
Mr.Stanislaus Samuel having office at
New No.32, Old No.16, First Floor
Erra Balu Chetty Street
Chennai 600 001. ... Plaintiff
..Vs..
Owners and Parties interested in the Vessel
MV SUPRAMAX VIVI
now lying at the Port of Chennai,
Tamil Nadu, Represented by its Master. ... Defendant
PRAYER : Plaint filed under and Order XLII Rule 1, 2 and 3 of the
Original Side Rules read with Order VII Rule 1 of CPC, prayed for a
Judgment and Decree:-
(a) For a sum of US Dollars 75,958.56 equivalent to
Rs.38,73,887/- calculated as per the prevailing exchange rate at 1 US Dollars
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C.S.No.222 of 2009
= INR 51/- Indian Rupees together with interest at the rate of 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 SUPRAMAX
VIVI, in as is where is condition, presently in Indian Waters at Port of
Chennai, Tamil Nadu.
(c) For a direction to adjust the sale proceeds of the Defendant
Vessel MV SUPRAMAX VIVI against the suit claim as well as for actual
cost of repatriation with interest and costs.
(d) For costs of this Suit.
For Plaintiff : M/s.S.Vasudevan
For Defendant : M/s.S.Ragunathan
*******
JUDGMENT
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https://www.mhc.tn.gov.in/judis/ C.S.No.222 of 2009 Heard the learned counsel for the plaintiff and Ms.Sharanya Vaidhiyanthan, learned counsel for the defendant.
2. Very appreciably the parties had entered into the Memorandum of Compromise assisted and guided by the learned counsels. The Memorandum of Compromise envisages as follows:
"NOW THEREFORE THIS JOINT MEMORANDUM OF COMPROMISE (JMOC) WITNESSETH AS FOLLOWS:
1. The Parties herein state that a sum of Rs.38,73,887/- (Rupees Thirty Eight Lakhs Seventy Three Thousand Eight Hundred and Eighty Seven only) towards the Suit claim and a sum of Rs.1,00,000/- (Rupees One Lakh only) towards costs of the suit have been deposited by the Defendant pursuant to a common order dated 17.08.2009 in Application No. 1038 of 2009 and Application No. 1581 of 2009 in C.S.No.222 of 2009, passed by this Hon'ble Court, together with the accrued interest thereon with the Ashok Nagar Branch of Indian Bank.3/8
https://www.mhc.tn.gov.in/judis/ C.S.No.222 of 2009
2. It is submitted that this Hon'ble Court may be pleased to direct the Registrar General to discharge the Fixed Deposit Receipt lying to the credit of the above suit and further direct the Registrar General to pay the Settlement amount of the Rupee equivalent of US Dollar 28,000/-, as it stands on the date of the said Order, in the name of Mr.S.VASUDEVAN, Counsel for Plaintiff.
3. The payment of United States Dollars 28,000/- at the Exchange Rate prevailing on the day on which the Settlement is recorded by an Order of the Court, from and out of the Security amount shall be paid to be Suppliers, free of Bank Charges, in full and final settlement of the Supplier's claim (Plaintiff) and the respective disputes (the Settlement sum).
4. The Counsel for Plaintiff shall, on receipt of the funds from Court, pay the same after deducting the expenses of Chartered Accountant for obtaining the Certificate of remittance and after deducting TDS and Bank Charges and at the prevailing Exchange Rate on the date of transfer, through his Bankers M/s.Bank of Baroda, International Business Branch, Chennai 600 001 to the Plaintiff's Account, the details of which is as follows:-
4/8https://www.mhc.tn.gov.in/judis/ C.S.No.222 of 2009 HSBC (HONGKONG) LTD OCEAN CENTRE BRANCH, KOWLOON, HONGKONG Account No.053 - 151726 - 838 BENEFICIARY: GOLDEN HARVEST SHIPPING SERVICE CO. LTD SWIFT: HSBCHKHHHKH
5. The balance of the amounts lying with the Indian Bank, Ashok Nagar Branch, after paying the Plaintiff, in a manner set out in Clause 2 supra shall be paid to M/s.James Mackintosh, with which Company, the Power of Attorney Agent of the Defendant Mr.Murali Rao is employed, and which Company shall on receipt of the same transfer the funds to the Account designated by the Defendant, the details of which as follows:-
Beneficiary's Name: CHAIN SPIRIT MARITIME ENTERPRISES INC.
Beneficiary's Bank: BERENBERG BANK, NEUER JUNGFERNSTIEG 20203545 HAMBURG / GERMANY SWIFT BIC: BEGODEHH Account currency : USD Account number : 05-26604-004 IBAN : DE22 2012 0000 0526 6040 04 5/8 https://www.mhc.tn.gov.in/judis/ C.S.No.222 of 2009
6. The payment of the sum in rupee equivalent of US Dollar 28,000 to the Plaintiff, at the exchange rate prevalent on the date of passing of an order by this Hon'ble Court on this Joint Memorandum of Compromise, shall be in full and final settlement of the all the Plaintiff's claim in the above suit.
7. Neither party will have any claim against each other upon the respective being paid the respective amount as per the terms of this Memorandum either in relation to the said Suit of any amount in relation thereof, whatsoever.
8. The terms and conditions herein contained herein shall be final and binding as between the Parties herein.
9. The Plaintiff prays that consequent to the settlement of the above Suit, the Plaintiff may be granted refund of the appropriate amount of Court Fee paid on the Plaint and a direction in relation to the same may be passed by this Hon'ble Court.
10. The Parties shall bear their respective costs.
Dated at Chennai this the 22nd day of December 6/8 https://www.mhc.tn.gov.in/judis/ C.S.No.222 of 2009 2020."
3. In view of the same, suit is decreed in accordance with the terms of Memorandum of Compromise. No order as to costs. The Memorandum of Compromise dated 22.12.2020 shall form part of the decree.
05.03.2021 Index : Yes / No Web : Yes / No rna C.V.KARTHIKEYAN, J 7/8 https://www.mhc.tn.gov.in/judis/ C.S.No.222 of 2009 rna C.S.No.222 of 2009 05.03.2021 8/8 https://www.mhc.tn.gov.in/judis/