M.V. UMANG vs KAMLA KANT DUBE(DEAD) THR. LRS.

The Supreme Court acknowledged the settlement agreement reached between the parties in mediation, wherein the appellants agreed to pay Rs. 11,20,000 to the respondent, thereby resolving the Admiralty Suit No. 33/1997. The Court noted that both parties confirmed no outstanding claims against each other, leading to the disposal of the appeal. The question of territorial jurisdiction raised by the appellants was left open for future consideration, and the bank guarantee of Rs. 45,00,000 was ordered to be discharged and returned to the appellants.