1 mst IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ADMIRALTY SUIT NO.8 OF 2011 Universal Marine and another Plaintiffs versus m.v.`MORAYU' and others Defendants Mr.Ajay K. Rao for plaintiffs. Mr.Rashmin Khandekar i/by A.Mehta Laljee & Co. for defendants. CORAM : S.J.KATHAWALLA, J. DATE : 14th June 2011 PC : 1. The plaintiffs have filed the above suit against the defendants in respect of their claim in the sum of USD 52,411.50 along with interest @ 18% from 01.08.2010 till 31.08.2010 on USD 47,688.50 in the sum of USD 739 and further interest @ 18% on USD 47,688.50 from the date of filing the suit till payment and realization and sheriff's poundage. 2. By an order dated 16th September 2011 this Court was pleased to order arrest of the 1st defendant vessel. 3. The defendants have agreed to settle the suit claim for USD 60,000 (UNITED STATES DOLLARS SIXTY THOUSAND ONLY). Out of the said sum of USD, the defendant no.4 has already paid to the Plaintiffs an amount of USD 30,000 (receipt whereof the plaintiffs do hereby admit and acknowledge). The defendants agree and undertake to pay to the plaintiffs the balance amount of USD 30,000 in 3 installments, the first installment of USD 10,000 to be paid on or before 30th June, 2011; the 2nd installment of USD 10,000 on or before 31st July 2011 and the last 2 installment of USD 10,000 on or before 31st August 2011. The undertaking is accepted. 4. In view thereof, the Order of Arrest of the 1st defendant vessel dated 16th September 2001 passed by this Court to stand vacated and the vessel forthwith be released from arrest and the suit to stand disposed of as withdrawn. 5. Instrument of release to be dispensed with. Port, Customs and all concerned are directed to act on a copy of the order duly authenticated by the Associate of this Court. 6. Liberty to the defendants to serve a copy of the order directing release of the 1st defendant vessel by e-mail, fax at their cost to all concerned. 7. All concerned authorities to act on e-mail/fax copy of the order directing release of the 1st defendant vessel m.v. MORAYO. 8. Plaintiffs undertake to pay poundage as applicable. 9. Subject to payment of the balance amount of USD 30,000 in installments as aforesaid, the plaintiffs shall have no claim of any nature whatsoever against any of the defendants. In case of default in payment of any installment, plaintiffs shall be at liberty to apply for further orders. 10. The suit is accordingly disposed of as withdrawn. 11. Certified copy expedited. 12. Refund of court-fees as per rules. (S.J.KATHAWALLA, J.)