VEDANTH EXIM Vs. AMERICAN PRESIDENT LINES LTD

JUDGEMENT

(1.) We have heard the learned counsel appearing for the appellant and the learned counsel appearing for the sole respondent.

(2.) A Statement is made by the learned counsel appearing for the parties that their respective clients after negotiation have amicably settled the matter so as to end the ongoing litigation.

(3.) Learned counsel appearing for the sole respondent states that his client is agreed to pay an amount of USD 40,000 in Indian currency as the prevailing rate of dollar today, to the appellant towards the full and final settlement of all the disputes between them.