Aapico Hitech Public Company Limited And 2 Others v. Abt Auto Investment Limited And Another

A.Nos.1303 & 1304 of 2021 P.T.ASHA, J.

After extensive arguments were made by both sides and considering the fact that the arbitral tribunal viz; the Singapore International Arbitration Centre has reserved orders in the main Arbitration, both parties without prejudice to their respective case are agreeable for the following orders being passed in the respective applications.

A.No.1303 of 2021:

2. By order dated 24.03.2021, this Court had injuncted the respondents from taking any decision regarding reserved matters as directed under Schedule 2 of the Amendment and Restated Shareholders Agreement. This interim order shall continue till the passing of the Award by the Arbitral Tribunal. 1/4

A.No.1304 of 2021:

3. The application has been taken out by the applicants for appointing a retired judge of this Court to act as an Independent Observer to attend all the meetings to be held by the Shareholders/The Board of Directors. Both parties are agreeable for the appointment of Mr.Justice K.Kannan (Retd.), as the Observer. Therefore, Mr. Justice K. Kannan, (Retd.), New.22, Gilchrist Avenue, Off Harrington Road, Chetpet, Chennai- 600 033, Phone- 55475515, is appointed as the Independent Observer.

4. The Independent Observer shall attend all General Meetings of the Shareholders of the second respondent company, its Meeting of the Board of Directors and the Committees of the Board of Directors till the award is passed in the above matter. No costs. 31.03.2021 mrn Index : Yes/No Speaking order/non-speaking order 2/4

To Mr. Justice K. Kannan, (Retd.), New.22, Gilchrist Avenue, Off Harrington Road, Chetpet, Chennai- 600 033, Phone- 55475515 3/4

P.T.ASHA, J.

mrn A.Nos.1303 & 1304 of 2021 31.03.2021 4/4