Madras High CourtArb Appln/196/2021closed

Mr.Praveen Reddy Charuku v. M/S.Ggs Information Services Inc And 2 Others

2021-10-07Honourable Mr Justice N. Sathish Kumar8 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) THURSDAY, THE 7TH DAY OF OCTOBER 2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR Arb. Appln. No.196 of 2021 In the matter of Arbitration & Conciliation Act, 1996 and In the matter of Disputes between Mr.Praveen Reddy Charuku and M/s. GGS Information Services Inc. and its Affiliates and In Respect of the amended and restated joint venture Agreement dated July 24, 2015.

Mr.Praveen Reddy Charuku, Mahendra Hills, Secundrabad - 500 026.

... Applicant Vs.

1.M/s. GGS Information Services Inc.

Represented by its CEO Mr. Paul Kilker, 3265 Farmtrail Road, York, Pennsylvania - 17406 United States of America.

2. M/s. GGS Information Services India Pvt. Inc. K-4, South Extention Part II,

New Delhi - 110 049.

3.M/s. GGS Information Services India Pvt. Ltd. Mahendra Hills, East Maredpally Secundrabad, Hyderabad, Telengana - 500 026.

... Respondents Application praying that this Hon'ble Court be pleased to direct the 1st/2nd Respondent to furnish security in the form of Bank Guarantee for a sum of Rs.8,56,16,889/- being the entire amount admitted by the Respondent herein bearing Invoice Numbers CAT 19 20/007, CAT 19-20/013, CAT 19-20/016 dated 18.07.2019, 21.08.2019 and 20.09.2019 respectively and have the same renewed and in force until the completion of the arbitration proceedings. This application coming on this day before this court for hearing in the presence of Mr.Sriram Venkatavaradan, Advocate for the Applicant herein, and Mr.K.Harishankar, Advocate for the Respondents 1 & 2 herein and upon reading the Judge's Summons and the affidavit of Mr.Praveen Reddy Charuku and the counter affidavit of Rajiv Bhandari filed herein and the learned counsel appearing for the respondents having submitted that the respondents are ready to make the payment of Rs.8,56,16,889/- by way of Fixed Deposit in the name of the second respondent and the receipt of such Fixed Deposit so made by the

respondents will be handed over to the learned Arbitrator the Hon'ble Mr.Justice K.Govindarajan (Retd.) and the learned counsel for the applicant also has no issue in this regard and this Court doth recording the same, it is ordered as follows:- That the respondents herein be and are hereby directed to make the payment of Rs.8,56,16,889/-(Rupees Eight Crores Fifty Six Lakhs Sixteen Thousand Eight Hundred and Eighty Nine Only) by way of Fixed Deposit in the name of the second respondent and the receipt for such Fixed Deposit shall be presented before the learned Arbitrator the Hon'ble Mr.Justice K.Govindarajan Judge (Retd.), High Court, Madras within a period of four weeks from this date i.e on or before 04.11.2021.

2. That the Arb. Appln. No.196 of 2021 do stand closed. WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 7TH DAY OF OCTOBER 2021.

Sd/- ASSISTANT REGISTRAR (Comm. Cases) //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

EVK 27/10/2021 Arb. Appln. No.196 of 2021

ORDER

DATED : 07.10.2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR FOR APPROVAL: 27/10/2021 APPROVED ON: 28/10/2021 Copy to:- The Hon'ble Mr.Justice K.Govindarajan, (Retd.), High Court, Madras, New No.8, Old No.5, Justice Ramanujam Road, Malaviya Avenue, Sastri Nagar, Chennai -41.

With Covering Letter

IN THE HIGH COURT OF JUDICATURE AT MADRAS

Mr.Praveen Reddy Charuku, Mahendra Hills, Secundrabad - 500 026.

... Applicant Vs.

1.M/s. GGS Information Services Inc.

Represented by its CEO Mr. Paul Kilker, 3265 Farmtrail Road, York, Pennsylvania - 17406 United States of America.

2. M/s. GGS Information Services India Pvt. Inc. K-4, South Extention Part II, New Delhi - 110 049.

3.M/s. GGS Information Services India Pvt. Ltd. Mahendra Hills, East Maredpally Secundrabad, Hyderabad, Telengana - 500 026.

... Respondents Application praying that this Hon'ble Court be pleased to direct the 1st/2nd Respondent to furnish security in the form of Bank Guarantee for a sum of Rs.8,56,16,889/- being the entire amount admitted by the Respondent herein bearing Invoice Numbers CAT 19 20/007, CAT 19-20/013, CAT 19-20/016 dated 18.07.2019, 21.08.2019 and 20.09.2019 respectively and have the same renewed and in force until the completion of the arbitration proceedings. This Arbitration Application coming on this day before this court for hearing, the court made the following order:- This application has been filed to furnish security in the form of a Bank Guarantee for a sum of Rs.8,56,16,889/- being the entire amount admitted by the respondent, as per the invoices, until the completion of the arbitration proceedings.

2. While the case was listed on 06.10.2021, the learned counsel

appearing for the respondents submitted that they are ready and willing to deposit a sum of Rs.8,56,16,889/- in escrow account.

3. Already, counter affidavit filed, wherein, it is stated that the parties are agreed to appoint Hon'ble Mr.Justice K.Govindarajan (Retd.) as the Sole Arbitrator to adjudicate the disputes between the parties. This fact is not denied by the counsel for the applicant also.

4. Today, the learned counsel appearing for the respondents submitted that, the respondents are ready to make the payment of Rs.8,56,16,889/- by way of Fixed Deposit in the name of the second respondent and the receipt of such Fixed Deposit so made by the respondents will be handed over to the learned Arbitrator the Hon'ble Mr.Justice K.Govindarajan (Retd.).

5. The learned counsel appearing for the applicant also has no issues in this regard.

6. The above submissions so made by the learned counsel appearing for the respondents and the applicant is recorded.

7. Accordingly, the respondents are directed to make the payment of Rs.8,56,16,889/- by way of Fixed Deposit in the name of the second respondent and the receipt for such Fixed Deposit shall be presented before the learned Arbitrator the Hon'ble Mr.Justice K.Govindarajan (Retd.), within a period of four weeks from today.

8. Inview of the above, no further order is required in this application and hence, the application is closed. Sd./-N.S.K.J.

07.10.2021 //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.