Disposed

Tata Capital Financial Services Limited, Rep. herein by its Authorized Representative, v. Ashish Krishnaswamy

Madras HC15 Jun 2022OP/378/2020

Case brief

AI extract

What is this about?

The High Court at Madras disposed of five proceedings (one OP and four applications) relying on the uncontested submission by counsel that the parties had settled the dispute out of court.

What did the court decide?

The High Court disposed of all four applications and one arbitration order as closed/withdrawn having been settled out of court. No order as to costs.

Tata Capital Financial Services Limited… — Contract and Commercial Disputes | Madras HC (2022)

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O.P.No.378 of 2020 & O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED : 15.06.2022

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CORAM

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THE HON'BLE MR. JUSTICE M.SUNDAR

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O.P.No.378 of 2020

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& O.A.No.161 of 2020

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A.Nos.1122 to 1124 of 2020

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Tata Capital Financial Services Limited Represented herein by its Authorised Representative 1st Floor, Centennial Square, 6A, Dr.Ambedkar Salai Kodambakkam, Chennai - 600 024 having its registered office at Tower A, 1101 Peninsula Business Park Ganpatrao Kadam Marg, Lower Parel Mumbai - 400 013 ... Petitioner in

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... Petitioner in

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O.P.No.378 of 2020 /Applicant in O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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Vs.

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Ashish Krishnaswamy

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Deepa Krishnaswamy

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AFP Lakeside Homes LLP No.19, 33 'A' Cross, 11th Main, Jayanagar

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1/7

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https://www.mhc.tn.gov.in/judis

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O.P.No.378 of 2020 & O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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4th T Block, Bangalore - 560 041

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... Respondents in O.P.No.378 of 2020 /Respondents in O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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Prayer in O.P.No.378 of 2020 :Petition filed under Section 11(4) of the Arbitration and Conciliation Act, 1996 to appoint a sole Arbitrator to hear and decide the dispute amongst the parties arising out of the Letter of Guarantee dated 22.05.2018.

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Prayer in O.A.No.161 of 2020 : Original application filed under Section Order XIV Rule 8 of Original Side Rules read with Section 9 of the Arbitration and Conciliation Act, 1996 to pass an order of injunction restraining the respondents themselves or through their servants, assigns, agents, representatives, officers, trustees, beneficiaries, administrator/s or any other person claiming through or under them or under any instrument whatsoever from in any manner selling, alienating, transferring, parting with the possession of, dealing with, disposing of, inducting anyone into or developing or creating any third party right or interest of whatsoever nature and in any manner whatsoever in respect of the properties owned by the respondent.

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Prayer in A.No.1122 of 2020 : Application filed under Section Order XIV Rule 8 of Original Side Rules read with Section 9 of the Arbitration and Conciliation Act, 1996 to direct the respondents to forthwith file an affidavit disclosing the details of all the movable and immovable properties belonging to them with the details of the encumbrance if any as on the date of filing of the application, including the Books of Accounts/Last 3 years Balance Sheet, Bank accounts statement/fixed deposits maintained by them and balance available therein as on the date of filing of this application.

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Prayer in A.No.1123 of 2020 : Application filed under Section Order XIV Rule 8 of Original Side Rules read with Section 9 of the Arbitration and

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2/7

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https://www.mhc.tn.gov.in/judis

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O.P.No.378 of 2020 & O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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Conciliation Act, 1996 to direct the respondents to jointly and severely furnish security to the tune of Rs.3,48,99,339.36 (Rupees Three Crores Forty Eight Lakhs Ninety Nine Thousand Three Hundred and Thirty Nine Thirty Six Paise only) as on 10.01.2020 along with further interest, additional interest and cost, charges and expenses till payment and or realisation thereof.

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Prayer in A.No.1124 of 2020 : Application filed under Section Order XIV Rule 8 of Original Side Rules read with Section 9 of the Arbitration and Conciliation Act, 1996 to direct the 4th respondent to deposit the balance amounts realised out of sale of the property situated at 7th Cross Road, 1st Block Jayanagar, Bangalore more fully described in the Judge's summons after due realisation of their loan pending disposal of the arbitration proceedings.

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For Petitioner : Mr.J.R.Jayant For Respondents : Mr.Karthik Seshadri of M/s.Iyer and Thomas (Law Firm)

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O R D E R

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In the captioned matters Mr.J.R.Jayant, learned counsel on record for applicant in the captioned applications and petitioner in the captioned Arb.OP is before this Court. Mr.Karthik Seshadri, learned counsel of M/s.Iyer and Thomas (Law Firm), learned counsel on the other side is before this Court.

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3/7

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https://www.mhc.tn.gov.in/judis

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O.P.No.378 of 2020 & O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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Both learned counsel submit without any disputation or

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disagreement in one voice that the matter has been settled as between the parties. Mr.J.R.Jayant, who is for the applicant in all the four applications and petitioner in the Arb.OP, made endorsement in the case files, which

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read as follows:

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4/7

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https://www.mhc.tn.gov.in/judis

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O.P.No.378 of 2020 & O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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3. Learned counsel reiterates the aforesaid endorsement in the

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hearing.

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4. In the light of the narrative thus far, captioned four applications and one Arb.OP are disposed of as closed/withdrawn having been settled

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5/7

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https://www.mhc.tn.gov.in/judis

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O.P.No.378 of 2020 & O.A.No.161 of 2020 &

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A.Nos.1122 to 1124 of 2020

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out of Court. There shall be no order as to costs. Though obvious it is

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made clear that interim orders, if any, in the captioned matters will also

stand closed.

15.06.2022

gpa

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https://www.mhc.tn.gov.in/judis

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O.P.No.378 of 2020 & O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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M.SUNDAR.J.,

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gpa/nsa

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O.P.No.378 of 2020 & O.A.No.161 of 2020 & A.Nos.1122 to 1124 of 2020

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15.06.2022

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7/7

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https://www.mhc.tn.gov.in/judis

Tata Capital Financial Services Limited, Rep. herein by its Authorized Representative, v. Ashish Krishnaswamy

Case brief

What is this about?

What did the court decide?

Tata Capital Financial Services Limited, Rep. herein by its Authorized Representative, v. Ashish Krishnaswamy

Case brief

What is this about?

What did the court decide?

What the court decided

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