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Madras High CourtOSA/14/2016disposed of

M/S. Parkerford Garments v. India Growth Fund, Through Its

2016-02-03Honourable The Chief Justice,Honourable Mr Justice M.M.Sundresh5 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 03.02.2016

CORAM

THE HON'BLE MR.SANJAY KISHAN KAUL, CHIEF JUSTICE and THE HON'BLE MR. JUSTICE M.M.SUNDRESH M.P.No.1 of 2013 in OSA.No.SR 103664 of 2013 and CMP.No.1740 of OSA.No.SR 103664 of 2013 and O.S.A.No.14 of 2016 and CMP.Nos.1814 & 1815 of 2016 M/s.Parkerford Garments Private Limited, No.36, B-2, Balaji Colony, 3rd street, Ramanathapuram, Coimbatore-641 005.

... Petitioner/Appellant Vs

1. India Growth Fund through its Trustee Kotak Mahindra Trusteeship Services Limited, A unit scheme of Kotack SEAF India Fund, a trust which is registered as a venture capital fund under the Securities and Exchange Board of India (Venture Capital Fund) Regulations, 1996 and having its registered office at 36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai-400 021.

2. M.Thiagarajan

3. Lakshmi Murugesan

4. Paramount Mills Pvt. Ltd., a company registered under The Companies Act, 1956 and having its registered office at Rajapalayam Road, N.H.208, T.Pudapatti Post, Thirumangalam-635 704.

5. Paramount Airways Private Limited, a company registered under the Companies Act, 1956 and having its registered office at Alexander Square, C.Wing, II Floor, No.34/35, Sardar Patel Road, Guindy, Chennai-600 032.

6. Paramount Flight Services Private Limited, (name changed to Paramount Airways (India) Private Limited), A company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram Street, Thirunagar, Madurai-625 006.

7. Paramount Freight Private Limited, a company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram street, Thirunagar, Madurai-625 006.

8. Paramount Legacy Fashions Private Limited, a company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram street, Thirunagar, Madurai-625 006.

9. Paramount Foundations Private Limited, a company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram street, Thirunagar, Madurai-625 006.

10. Bluebird Publications Private Limited, a company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram street, Thirunagar, Madurai-625 006.

11. Paramount Holdings Private Limited, a company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram street, Thirunagar, Madurai-625 006.

12. Paramount Beverages Private Limited, a company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram street, Thirunagar, Madurai-625 006.

13. Paramount Rewards Private Limited, a company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram street, Thirunagar, Madurai-625 006.

14. Paramount Textile Mills Private Limited, a company registered under the Companies Act, 1956 and having its registered office at A21, Lankaram street, Thirunagar, Madurai-625 006.

15. Colour Yarns Limited, a company registered under the Companies Act, 1956 and having its registered office at Thiagarajar Mills Premises, Kappalur, Madurai-625 008.

... Respondents M.P.No.1 of 2013 in OSA.No.SR 103664 of 2013 filed praying to grant leave to the appellant to prosecute the appeal against the order and decreetal order dated 20.03.2013 passed in Application No.5740 of 2011 on the file of this Court. CMP.No.1740 of 2016 in OSA.No.SR 103664 of 2013 filed praying to condone the delay of 223 days in filing the above appeal OSA SR 103664 of 2013 against the order and decreetal order dated 20.03.2013 passed in Application No.5740 of 2011 on the file of this Court.

Appeal filed under Order XXXVI, Rule 9 of Original Side Rules read with Clause 15 of Letters Patent against the order made in A.No.5740 of 2011, dated 20.03.2013 on the file of this Court.

For Appellant : Mr.G.Ashokapathy for M/s.Pass Associates For Respondents : Mr.Vijayakumar for M/s.Iyer & Thomas for R1

JUDGMENT

(Judgment of the Court was delivered by The Hon'ble Chief Justice) The arbitration proceedings are pending, as initiated by the first respondent against respondent Nos.2 to 5 in pursuance to the order passed in February, 2015 appointing the Arbitrator. In order to protect its interest, the first respondent had filed an application under Section 9 of the Arbitration and Conciliation Act, 1996 in which orders have been passed qua the property which the appellant claims to be owning.

2. M.P.No.1 of 2013 in OSA.SR.No.103664 of 2013 was filed seeking leave to file the appeal and almost for the last three years, the appellant has failed to complete the service, as respondent No.5 is stated to be still unserved.

3. CMP.No.1740 of 2016 in OSA.SR.No.103664 of 2013 was filed to condone the delay of 223 days in filing the aforesaid appeal SR.

4. We are of the view that if for any reason the appellant feels that its property is attached, it may move the Arbitrator, who can examine the issue, rather than keeping this appeal pending, especially in view of the inaction of the appellant in taking necessary steps.

5. We, thus, grant leave to appeal, condoned the delay of 223 days in filing the appeal, direct the appeal to be numbered and dispose of the appeal with the aforesaid directions. No costs. Consequently, CMP.Nos.1814 and 1815 of 2016 are closed. Sd/- Assistant Registrar(CS II) //True Copy// Sub Assistant Registrar

bbr To The Sub Assistant Registrar, Original Side, High Court, Madras.

O.S.A.No.14 of 2016 TEJ(CO) CA(15/02/2016)