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Chairman & Managing Director, The Kamarajar Port Limited, Chennai v/s HCC Van Oord ACJ Joint Venture, Hincon House, LBS Marg, Vikhroli (West), Mumbai

Company & Directors' Information:- KAMARAJAR PORT LIMITED [Active] CIN = U45203TN1999GOI043322

Company & Directors' Information:- MARG LIMITED [Active] CIN = L45201TN1994PLC029561

Company & Directors' Information:- VAN OORD INDIA PRIVATE LIMITED [Active] CIN = U79210MH1997PTC111700

Company & Directors' Information:- B B VENTURE PRIVATE LIMITED [Active] CIN = U52209CT2008PTC020645

Company & Directors' Information:- S A R VENTURE PRIVATE LIMITED [Active] CIN = U70102DL2015PTC275704

Company & Directors' Information:- N J VENTURE PRIVATE LIMITED [Strike Off] CIN = U70101MH2008PTC186387

    O.S.A.No. 51 of 2015

    Decided On, 23 February 2015

    At, High Court of Judicature at Madras


    For the Appellant: G. Rajagopal, Additional Solicitor General for Krishna Ravindran, Advocate. For the Respondent: Subramanian, Advocate.

Judgment Text

(Prayer: Appeal filed under Order 36 Rule 1 of Original Side Rules read with Clause 15 of the Letters Patent Act, against the fair and decretal order dated 30.10.2014 passed in A.Nos.5838 and 5839 of 2014 in E.P.No.1871 of 2010.)

The Hon'ble Chief Justice.

Learned Additional Solicitor General has obtained instructions and with his assistance, most issues stand resolved. It is thus agreed that the appeal be disposed of in the following terms:

(i) The appeal is withdrawn leaving the parties to bear their own costs except to the extent provided hereinafter.

(ii) The learned Master will verify the exact amount payable to the respondents.

(iii) The amount already deposited in Court with the Indian Bank, High Court Branch, Chennai, be released to the respondents.

(iv) The learned Master will examine the issue of accrued interest for the period from 25.03.2014 to 23.04.2014 on the principal outstanding amount of Rs.23,58,27,128/- amounting to Rs.19,38,305/-, as according to the appellant, the principal amount was withheld, as there was share of the joint-venture company for the withdrawal of which the respondents had to obtain authorisation and there was delay in obtaining the authorisation which resulted in delay in payment.

The fair stand taken by the respondents on the advise of the Additio

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nal Solicitor General is appreciated. The Original Side Appeal accordingly stands dismissed as withdrawn in the aforesaid terms. No costs.