M/S.Daimler Financial Services India Private Ltd v. M/S. Transcar India Private Limited, Reg Office At 355 A, Gst Road, Chennai 16rep.By Its Directors

Application No.7477 of 2019 in O.A.No.49 of 2019 PUSHPA SATHYANARAYANA , J.

This Application has been filed to direct the Registrar General of this Court to release the payment of Rs.27.50 crores in favour of the Applicant.

2. Before the Arbitrator, in A.F.No.68 of 2019, the claimant/applicant has filed an interlocutory application in I.A.No.2 of 2019 for payment out of the deposited sum of Rs.33,50,00,000/- (Thirty Three Crores Fifty Lakhs only) towards dues pending arbitration. It seems that the Joint Memo was filed by the parties stating that out Rs.33.50 crores deposited on 19.06.2019 by the third respondent to the credit of O.A.No.49 of 2019 on the file of this Court, the applicant shall be entitled to the payment out of a sum of Rs.27,50,00,000/- (Rupees Twenty Seven Crores and Fifty Lakhs only) and such payment shall be subject to the parties rights and contentions and orders in the arbitrar proceedings. Based on the said Memo, the learned Arbitrator had passed an order stating that on the production of the order copy, the learned Registrar General, High Court Madras is directed to issue a cheque for a sum of Rs.27.50 crores to the Claimant subject to satisfaction of other requirements prescribed by the Registry

PUSHPA SATHYANARAYANA, J.

arr of the High Court, Madras. Based on the same, the present application is filed.

3. The learned counsel for the applicant also produced the fund certificate issued by the Joint Registrar (Original Side) of this Court on 27.09.2019 stating that there is a deposit of Rs.33,50,00,000/- (Rupees Thirty Three Crores Fifty Lakhs only) standing to the credit of O.A.No.49 of 2019 as Court deposit, which bears no interest. The learned counsel for the respondent also has no objection for the said amount being withdrawn.

4. Considering the facts and circumstances of the case, as per the said directions given by the learned arbitrator, the applicant shall be issued a cheque of Rs.27.50 crores in his favour on complying with the usual formalities.

5. This Application is ordered accordingly.

03.10.2019 arr Note: Registry is directed to issue order copy on 04.10.2019 Application No.7477 of 2019 in O.A.No.49 of 2019

PUSHPA SATHYANARAYANA , J.

arr Application No.7401 of 2019 01.10.2019