Pending suit for recovery of money was closed after a separate application was allowed to refer the parties to arbitration under Section 8 of the Arbitration and Conciliation Act, 1996.
Suit closed; no order as to costs. Connected pending applications closed.
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Civil Suit (COMM DIV)No.332 of 2023
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated : 30.07.2024
CORAM
THE HONOURABLE Mr. JUSTICE P.VELMURUGAN
Civil Suit (COMM DIV)No.332 of 2023
Vishal Krishna, Prop. M/s.Vishal Film Factory, No.73, 1st Street, Kumaran Colony, Vadapalani, Chennai - 600 026.
... Plaintiff
Vs.
M/s.Lyca Productions Private Limited, Rep. by its Authorized Signatory Mr.Neelkant Narayanpur, No.55, Vijayaraghava Road, T.Nagar, Chennai - 600 017.
... Defendant
Prayer:-
Civil Suit has been filed under Order VII Rule 1 C.P.C. r/w IV Rule 1 of Madras High Court O.S.Rules and Section 7 of the Commercial Courts Act IV of 2016 as amended, prays for a judgment and decree against the defendant on the following terms :
(i) To direct the defendant to pay to the plaintiff a sum of Rs.5,24,10,423/- together with further interest at 18% per annum on the principal sum of Rs.3,50,57,142/- from the date of plaint till the date of realization;
(ii) To award the costs of the suit.
For Plaintiff : Mr.A.Chidambaram For Defendant : M/s.Hema Srinivasan --------
Civil Suit (COMM DIV)No.332 of 2023
J U D G M E N T
The application A.No.1881 of 2024 in C.S.(COMM DIV) No.332 of 2023, filed by the defendant to refer the parties to arbitration in terms of Section 8 of the Arbitration and Conciliation Act, 1996, in accordance with Clause 11 of the Assignment Agreement dated 02.05.2018, was allowed on 19.06.2024.
30.07.2024
Index: Yes/No. Speaking Order : Yes/No. Neutral Citation Case : Yes/No.
r n s
Copy to: The Sub Assistant Registrar, (Original Side), Madras High Court, Chennai.
Civil Suit (COMM DIV)No.332 of 2023
P.VELMURUGAN, J
r n s
Civil Suit (COMM DIV)No.332 of 2023
30.07.2024
1 issue framed by the court
Whether an application referred to arbitration by a separate order under Section 8 of the Arbitration and Conciliation Act, 1996, dictates the closure of the pending suit.
3 provisions across 3 enactments
P.Velmurugan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
