JUDGMENT :

(Prayer: Civil Suit is filed under Order IV Rule 1 of Original Side Rule read with Order VII Rule 1 of C.P.C.,

(a). Directing the defendant to pay a sum of Rs.11,10,28,317/- (Rupees Eleven Crores Ten Lakhs Twenty Eight Thousand Three Hundred and Seventeen Only) as on 08.05.2018 on the Principal sum of Rs.5,68,15,877/- (Rupees Five Crores Sixty Eight Lakhs Fifteen Thousand Eight Hundred and Seventy Seven only) together with interest at the rate of 18% per annum from the date of plaint till the day of payment in full to the plaintiff.

(b). For the Costs of the suit.)

1. The plaintiff is a Private Limited Company having its registered Office at Chennai. According to the plaintiff, it is trading in coal for past several years and during the month of October -2014, the defendant approached the plaintiff for supply of Steaming, Non Coking Coal inbulk of Indonesian Origin. Pursuant to that, the plaintiff and defendant executed the following documents at Chennai.

2. As per trade practice, the High Seas Sale agreement and connected documents in original were handover to the defendant for Custom Clearance. As per the terms of the High Seas Sale agreement and purchase order, the invoice amount should be paid within 60 days. In the instant case, the coal was discharged on 16.10.2014 at Tuticorin Port, from the vessel MV. LMZ PLUTO. The plaintiff raised debit notes for the difference in foreign exchange and interest on Letter of Credit discounting charges. On 02.06.2016, the plaintiff sent a e-mail to the defendant enclosing the statement of accounts and sought for confirmation of balance. The defendant confirmed the balance of Rs.7,18,07,342/- payable to the plaintiff. After giving credits to various payments made by the defendant as on 08.05.2018, the sum due is Rs.11,10,28,317/-. Several meetings took place between the plaintiff and the defendant at Chennai Office, for payment, but did not yield any result. The settlement agreement dated 16.10.2017 was entered between the defendant, plaintiff and M/s.Star Thermal Power Private Limited., as against the total liability of Rs.5,68,15,877/-. The plaintiff agreed for a sum of Rs.4,54,52,701/- towards the full satisfaction. M/s.Star Thermal Power Private Limited, had agreed to pay the said amount on or before 25.12.2017, but failed to settle the amount and therefore, by efflux of time, the settlement agreement has come to an end. Hence, suit for recovery of Rs.11,10,28,317/- due as on 08.05.2018 and 18% interest on the Principal sum of Rs.5,68,15,877/- and costs.

3. The defendant has not filed any written statement. However, two applications (A.Nos.7970 of 2019 & 7971 of 2019) filed for rejecting the plaint and refer the matter to arbitrator.

4. Pending these two applications, the plaintiff witness was examined. 12 Exhibits were marked. The defendant cross examined the plaintiff witness.

5. The Learned Counsel appearing for the plaintiff would submitted that the suit transactions took place within the jurisdiction of this Court where the defendant having its Office. The coal was delivered to the defendant at Tuticorin as per the High Seas Invoice (Ex.P.2). The defendant confirmed the balance of Rs.17,19,07,342/- as on 31.12.2014 and same is marked as Ex.P.3. Thereafter, various payments were made by the defendant and statement of accounts (Ex.P.9