Vermeer Manufacturing Company v. Worldwide Kachinery Solution Private Limited

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 18/9/2020 C O R A M THE HON'BLE MR.JUSTICE N.SATHISH KUMAR O.A.Nos.304 and 305 of 2019

1. Vermeer Manufacturing Company

2. Vermeer Credit Corporation

3. Vermeer Asia Pacific Private Limited

4. Vermeer Equipment India Private Limited ...

Applicants in both the applications VS

1. Worldwide Machinery Solutions Private Limited Opp. Kishangarh Kothi Jaipur Road Ajmer 305 001 Rajasthan, India.

2. Navneet Mathur.

...

Respondents in both the applications Application filed under XIV Rule 8 of Original Side Rules, 1956 r/w. Section 9 of the Arbitration and Conciliation Act, 1996.

For applicant ...

Mr.Chatti Srinivas for Mr.Cyril Amarchand Mangaldas For respondents ...

Mr.A.Lakshmi Narayanan for M/s. Cibi Vishnu - - - - - - C O M M O N O R D E R O.A.No.304 of 2019 has been filed to grant an order of interim injunction restraining the respondents either by themselves or through their employees, agents, assigns, officers, representatives and/or any other person claiming through them in any manner (directly and/or indirectly) from unilaterally converting or taking any steps towards alienating the assets of respondent No.1.

2. O.A.No.305 of 2019 has been filed to grant an order of interim injunction restraining the respondents either by themselves or through their employees, agents, assigns, officers, representatives and/or any other person claiming through them in any manner (directly and/or indirectly) from unilaterally converting or taking any steps towards alienating the equipment of applicant Nos.1 and 2 currently in their possession, as listed and annexed as Schedule A to the Judges

Summons.

3. Heard Mr.Chatti Srinivas, learned counsel for the applicants and Mr.A.Lakshminarayanan for the respondents.

4. Today, when the matters are taken up for hearing through Video Conferencing, learned counsel appearing for both sides submitted that the parties have entered into an agreement and the matters have been settled and agreement has also been signed by both the parties. They also placed e-mail copy of the settlement reached between them. Both sides are willing to go before the same Arbitrator.

5. In such a view of the matter, these applications are disposed of. E-copy filed before this Court shall form part of this common order. Hon'ble Mr.Ajit Prakash Shah (Retired Chief Justice of Madras and Delhi) has already been appointed as Arbitrator. Parties are at liberty to move Hon'ble Mr.Justice Ajit Prakash Shah for passing consent award basis on settlement. Till consent award is passed,

equipments N.SATHISH KUMAR,J mvs.

of the applicants 1 and 2 which were taken possession in pursuance to the order of this Court shall not be alienated by the respondents.

18/9/2020 mvs.

O.A.Nos.304 and 305 of 2019