Pls explain the meaning of the context.....
Amandeep Singh
(Querist) 20 June 2010
This query is : Resolved
An arbitration award passed by the district court but later on challenged by one of the party to the award claiming false claims in addition to what is awarded in the award to that party. In order to avoid litigation & to buy peace of mind the other party entered into a compromise to settle the false claims and some amount is decided among the parties to be given to the party who had challenged the award. Now my question is whether this decided amount is the only amount to be given to that party i.e the amount of the false claims made or that amount to be given in addition to what is already awarded in the award.The statement in the Compromise deed goes like this:
"On the receipt of Rs549000 all the claims of Mr X (who had challenged the award)in respect of the movable & immovable estate of Mr.Y will be fully settled and nothing shall remain due after that."
The compromise is part & parcel to the arbitration award.
Pls answer that only these accepted false claims to be fulfilled or the thing already awarded in the award along with these false claims to be met.Because the property awarded to that party in the award has not yet transferred to that person's favour in the govt records.
G. ARAVINTHAN
(Expert) 20 June 2010
It seems all the disputes were given quietus by awarding Five Lakhs Forty Five Thousand
