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2014 DIGILAW 431 (MAD)

Srinivasa Enterprises v. Standard Chartered Bank

2014-02-21

M.JAICHANDREN

body2014
JUDGMENT 1. This Civil Suit has been filed praying to pass a judgment and decree directing the defendants to jointly and severally pay the plaintiff, a sum of Rs.One Crore, together with interest at the rate of 24% per annum, from the date of the plaint, till the date of actual realization, towards damages, and further to grant a permanent injunction restraining the defendants from demanding any amount, as due from the plaintiff, in respect of its Loan Account No.242616, with defendants 1 to 3, said to have been assigned in favour of defendants 4 and 5 and from re-possessing the Maruti Esteem Car, bearing Registration No.TN 07 F 6939. 2. The matter was referred for mediation to the Tamil Nadu Mediation and Conciliation Centre, High Court, Madras, by the order of this Court, dated 17.7.2013. 3. A communication, dated 17.2.2014, of the Tamil Nadu Mediation and Conciliation Centre, High Court, Madras, has been received, enclosing a copy of the Mediation Report, dated 31.1.2014, stating that the matter has been settled between the parties concerned, as per the terms cited in the Mediation Agreement, dated 31.1.2014. 4. As the parties have arrived at a settlement, in terms of the Mediation Agreement, dated 31.1.2014, this Civil Suit is listed for passing orders. 5. The Mediation Agreement, dated 31.1.2014, signed by the parties, as well as their respective counsels, reads as follows:- "Both sides, out of their own volition and without any pressure or coercion from any side have agreed as follows: 1. The Defendants have paid a sum of Rs.5,00,000/- (Rupees five lakhs only) by way of Demand Draft bearing No.581490, dated 29.01.2014 in the name of the Plaintiff towards full and final settlement and the Plaintiff acknowledges the receipt of the same. 2. The Defendant has also tendered an unconditional apology letter to the Plaintiff. 3. Both parties agrees that they have no further claim against each other with regards to the above suit." 6. In terms of the settlement arrived at between the parties, which is recorded under the Mediation Agreement, dated 31.1.2014, this Civil Suit is disposed of. There shall be a Decree, in terms of the Mediation Agreement, dated 31.1.2014. The terms of the Mediation Agreement, dated 31.1.2014, shall form part of the record. No costs. All the connected Applications are closed. The original documents filed by the plaintiff, in the Suit, shall be returned to it. There shall be a Decree, in terms of the Mediation Agreement, dated 31.1.2014. The terms of the Mediation Agreement, dated 31.1.2014, shall form part of the record. No costs. All the connected Applications are closed. The original documents filed by the plaintiff, in the Suit, shall be returned to it. The plaintiff is also entitled to refund of the entire court fee.