Chandru Kapahi, et al. Vs. Gurmukh Mirpuri, et al.

[SEC-SICD * CASE NO. 08-97-5734. March 10, 1998.] CHANDRU KAPAHI, ET AL. , petitioners , vs . GURMUKH MIRPURI, ET AL. , respondents . D E C I S I O N A Compromise Agreement signed by the parties, assisted by their respective counsel, in their sincere desire to preserve the unity and promote harmonious relations with the Filipino-Indian Chamber of Commerce (Phil.), Inc. so that it may effectively achieve the objectives for its being and agreeing to cast aside their differences and to amicably end this legal dispute, was submitted to this Commission on March 6, 1998 for its consideration and approval the following stipulations: LLpr "1. They hereby agree to the creation of a Committee of Elders which shall be composed of the following: a. AILDAS GUNAMAL b. JIWANLAL DARGANI c. NARU SAMTANI 2. The aforenamed Committee of Elders shall assume, exercise, discharge and perform the functions and powers of the Board of Directors of the Filipino-Indian Chamber of Commerce (Phils.), Inc. with respect to the election process as provided in its Amended By-Laws. 3. The respondents, as members of the incumbent Board of directors, shall ratify all actions of the Committee of Elders in the exercise of the powers vested on them by virtue of item no. 2 above. 4. The said Committee of Elders shall give utmost priority to complete and put in proper order the credentials and other requirements for membership and representation of the members. 5. If any of the three chosen members of the Committee of Elders is unable for any reason to serve, the parties agree to jointly exert their effort to convince other suitable persons acceptable to both of them to act as substitute." WHEREFORE, it appearing that the aforesaid compromise agreement is not contrary to law, morals, public order and policy, the same is hereby APPROVED and JUDGMENT is hereby rendered in accordance with the aforequoted stipulations thereof which the parties herein are enjoined to strictly observe and comply with. LLpr SO ORDERED. (SGD.) JAMES K. ABUGAN Hearing Officer