Allowed

R.Kannan v. Infratech Constructions

Madras HC18 Dec 2017A/5274/2017

Case brief

AI extract

What is this about?

The Madras High Court granted an application seeking attachment of respondent's property or alternate security to secure the amount claimed pending arbitration proceedings arising from a Memorandum of Understanding.

What did the court decide?

Attachment of property at No.17/1, 7th Main road, Kasturba Nagar, Adyar, Chennai subject to Canara Bank attachment and arbitration outcome; alternate security not directed.

R.Kannan Vs Infratech Constructions — Arbitration | Madras HC (2017)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY, THE 18TH DAY OF DECEMBER 2017

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THE HON'BLE DR. JUSTICE ANITA SUMANTH

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A. No.5274 of 2017

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In the matter of Arbitration &
Conciliation Act, 1996
and
In the matter of concerning
the Memorandum of
Understanding dated May 30,
2014.
And
In the matter of Arbitration
of the dispute between
R.Kannan, Infratech
Constructions (India)
P.Ltd.and R.Kannan
R.Kannan
S/o.Late Sri.Ramanujam
5G, KG Srivatsa Gardens,
South Avenue, Srinagar Colony,
Saidapet, Chennai 600 015
...Applicant
-vs-
1.Infratech Constructions (India) P.Ltd.,
4A, 4 th Floor, Kasturi Apartments,
R.K.Salai 6 th Street,
Chennai 600 004.
2. R.Kannan
S/o.S.Ramaswamy
No.17/1, 7 th Main Road,
Kasturba Nagar, Adyar,
Chennai 600020. ...Respondents

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Application praying that this Hon'ble Court be pleased to attach the property located at No.17/1, 7^th Main road, Kasturba Nagar, Adyar, Chennai 600020 or direct the https://hcservices.ecourts.gov.in/hcservices/ Respondents to furnish other sufficient security for the value of Rs.1,09,02,441 pending disposal of the

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arbitration.

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This Application coming on this day before this court for hearing the court made the following order:

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This application is filed seeking attachment of property located at Kasturba Nagar, Adyar, Chennai or for a direction to the respondent to furnish alternate security to the value of Rs.1,09,02,441/- pending disposal of the proceedings for arbitration.

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Both learned counsel would agree with the position that proceedings for arbitration have been initiated and a letter has been sent to Mr.P.B.Ramanujam, who is named as Arbitrator in terms of Clause 11 of the Memorandum of Understanding dated 30.5.2014 entered into between the parties. The parties are awaiting a response from the Arbitrator in this regard. While this is so, disputes

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have admittedly arising between them out of the aforesaid memorandum of understanding and the attachment of the schedule mentioned property is sought to secure the interests of the applicant pending arbitration. No serious objection is made to the prayer except to state that the property is already under attachment with Canara Bank.

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In the light of the same, the attachment of the property as sought for is granted. The attachment shall be subject to the attachment by Canara Bank in respect of which proceedings are pending before the Debt Recovery Tribunal for recovery of a sum of Rs.1,81,53,277/-. The attachment shall also be subject to the result of arbitration.

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https://hcservices.ecourts.gov.in/hcservices/

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The application is disposed of in the above terms

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leaving the parties to bear their own costs.

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Sd/.Dr.A.S.M.J
18.12.2017
//Certified to be a true copy//
Dated this the th day of 2018.
KY/21.08.2018 COURT OFFICER
From 25.09.2008 the Registry is issuing certified copies of
the Order/Judgment Decree in this format.

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https://hcservices.ecourts.gov.in/hcservices/

R.Kannan v. Infratech Constructions

Case brief

What is this about?

What did the court decide?

R.Kannan v. Infratech Constructions

Case brief

What is this about?

What did the court decide?

What the court decided

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