Sicgilsol India Private Ltd. v. Mr.S.Alagappan
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY THE 23RD DAY OF JULY 2018 THE HON'BLE MRS. JUSTICE PUSHPA SATHYANARAYANA A.No.5540 of 2018 in A.No.8205 of 2017 In the matter of the Arbitration and Conciliation Act, 1996 And in the matter of Arbitration Disputes between
1. Sicgilsol India Pvt. Ltd., and
1. S.Alagappan, 2.A.Visalakshi Under the Share Purchase Agreement dated 15.10.2014 and the Escrow Agreement dated 27.11.2014.
Sicgilsol India Private Ltd., Represented by its Director, Mr.V.N.Vijaykumar th Floor, 827, Anna Salai, Chennai - 600 002. ...Applicant/Claimant -vs1. Mr.S.Alagappan S/o. Mr.N.Sivanadian G-18, Royal Castle, IV Cross, 1 st Main Road, Raja Colony, Cantonment, Trichy - 613402.
2. Ms.A.Visalakshi W/o. Mr.S.Alagappan G-18, Royal Castle, IV Cross, 1 st Main Road,
Raja Colony, Cantonment, Trichy - 613402.
3. Sicgilsol Gases Private Ltd., Formerly Known as Seva Gases Pvt. Ltd., SF No.29, Trichy, Tanjore Main Road, Pudukkudi Tanjore 613 402.
4. DBS Bank Ltd., rd Floor, Fort House, 221, Dr.D.N.Road, Fort Mumbai 400 001. ..Respondents/Respondents A.No.8205 of 2017 Application praying that this Hon'ble Court be pleased to extend the time period for the arbitral proceedings for a further period of 6 months in reference to the Arbitral Share purchase Agreement dated 15.10.2014 and the Escrow Agreement dated 27.11.2014.
A.No.5540 of 2018:
Application praying that this Hon'ble Court be pleased to extend the time period for completion of the arbitral proceedings by a further period of 6 months from the date of the order of this Hon'ble Court in the present application, between the applicant and the respondents arising out of the Share Purchase Agreement dated 15.10.2014 and the Escrow Agreement dated 27.11.2014.
This Application coming on this day before this Court
for hearing, the court made the following order:- This application is filed seeking to extend the time period for completion of the arbitral proceedings by a further period of 6 months from the date of the order of this Court in the present application between the applicant and the respondents arising out of the Share Purchase Agreement dated 27.11.2014.
2. Heard Mr.V.M.Kannan, learned counsel for the applicant and Ms.Madhuram, learned counsel for the respondents.
3. It is stated that the claimant's witnesses were cross examined and the cross examination was concluded on 07.09.2017. Further it is stated that this Court vide order dated 15.12.2017 in A.No.8205 of 2017 extended the mandate of the learned Arbitrator by six months from the date of receipt of the copy of the said order and the mandate of the Arbitral Tribunal was extended up to 17.06.2018. It is now stated that the cross examination of RW1 is in progress and it will require another six months to complete the proceedings and pass the award.
4. The learned counsel for the respondents has got serious objection for extending the mandate of the learned Arbitrator.
5. Accordingly, time is extended by six months from the date of receipt of a copy of this order for completion of the arbitration proceedings. The parties should endeavour to complete the arbitration proceedings within a period of six months stipulated above.
6. This application is ordered accordingly.
Sd/-P.S.N.J 23/07/2018 //Certified to be a true copy// Dated this the day of 2018 JJ 28.09.2018 COURT OFFICER From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.