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Ast Enterprises Ic. v. Qualit Agro Processors

Madras HC26 Mar 2026A/1444/2026

Case brief

AI extract

What is this about?

Madras High Court, Senthilkumar Ramamoorthy J., 26-03-2026; consent/unopposed application for withdrawal of court deposit; execution of foreign-seated arbitral award recognised as decree (Arb.O.P.No.117 of 2021); decree holder AST Enterprises IC; judgment debtor Qualit Agro Processors; amounts Rs.40,00,000/- deposited and Rs.42,49,752.30/- with interest; direction to Registry to disburse within two weeks; E.P.DR.No.120185 of 2022.

What did the court decide?

Permission granted to the applicant/decree holder to withdraw the deposited sum along with accrued interest; the Registry directed to transfer the amount lying to the credit of E.P.DR.No.120185 of 2022 to the Decree Holder/Applicant within two weeks. ¶25

Ast Enterprises Ic. Vs Qualit Agro Processors — Madras HC (2026) — LawSathi Research

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A No. 1444 of 2026

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED: 26-03-2026

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CORAM

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THE HON'BLE MR JUSTICE SENTHILKUMAR RAMAMOORTHY

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A No. 1444 of 2026 in E.P.DR.No.120185 of 2022

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AST Enterprises IC, Represented by its Authorised Signatory 34th Floor, BB2 Tower, Mazaya Business Ave., PO Box 31489, Jumeriah Lake Towers, Dubai, UAE.

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Also at 98 Dariya Mahal B Wing, 80 Napean Sea Road, Mumbai-400006.

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..Applicant(s)

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Qualit Agro Processors K.Valliyinselvan - Sole Proprietor Plot No.82, CCCL Peral City Foodport, SEZ Ltd., Vadakkukaraseri, Sekkarakudi, PO Tuticorin-628 002.

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..Respondent(s)

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PRAYER: To permit the Applicant herein to withdraw the sum of Rs.42,49,752.30/- (Rupees forty two lakhs forty nine thousand seven hundred and fifty two thirty paise only) along with interest accrued till the date of disbursement, deposited by the Respondent herein to the credit of E.P.DR.No.120185 with this Hon'ble Court with a direction to transfer the said amount to the Decree Holder/Applicant.

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

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A No. 1444 of 2026

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SENTHILKUMAR RAMAMOORTHY, J.

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RNA

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For Applicant(s): M/s. Surya Teja SS Nalla

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For Respondent(s): Ms.L.Sweety

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ORDER

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An arbitral award dated 12.10.2018 in Arbitration No.17-299 was issued in favour of the applicant. Said award was recognised as a decree of this Court by order dated 20.10.2021 in Arb.O.P.No.117 of 2021.

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During the course of execution proceedings, the judgment debtor had deposited a sum of Rs.40,00,000/- to the credit of the execution petition. Along with accrued interest, the amount available as on date is said to be about Rs.42,49,752.30/-. The applicant has applied for permission to withdraw this amount by way of a credit to the bank account described in the schedule to the Judge's summons.

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Learned counsel for the respondent / judgment debtor has no objection to this application being allowed.

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Considering the facts and circumstances outlined above, this application is allowed as prayed for. The Registry shall take necessary steps to transfer the amount lying to the credit of this execution petition along with interest accruals thereon up to the date of transfer within a period of two weeks from the date of receipt of a copy of this order.

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26-03-2026

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RNA

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A No. 1444 of 2026 in E.P.DR.No.120185 of 2022

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__________ Page2 of 2

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