M/S.Electronica Finance Limited v. Sri Ss Plastics And 3 Others
C.SARAVANAN, J.
In these applications, Advocate Commissioner were appointed on 20.11.2023 to seize the machineries from possession of the respondent. In the connected Arbitration Application No.584 of 2023, the Advocate Commissioner was appointed on 08.01.2024. However, the warrant was not executed.
2.In Arb.Appln.Nos.583, 585 & 586 of 2023, respective Advocate Commissioners have filed their reports. The reports filed by the Advocate Commissioners in Arb.Appln.Nos.583, 585 & 586 of 2023 are taken on record and are detailed as below:- Application No.
Date of appointment Date of report 20.11.2023 010224 20.11.2023 010224 20.11.2023 22/01/24 3.The respective Advocate Commissioners have prayed for additional remuneration to be paid to them. Having considered the report filed by them and the submissions made by the respective Advocate Commissioners, Court is inclined to order additional remuneration of Rs.25,000/- (Rupees Twenty Five Thousand Only) to be paid to each of the Advocate Commissioners appointed in these applications to be paid by the applicant.
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4.The learned counsel for the respondents submits that the 1st respondent is a Manufacturing Unit and is dependant on them and since they have been seized, the 1st respondent's operation have been crippled. It is submitted that the applicant will be unable to honor its commitments to other customers. Hence, prays for re-delivery of the seized machineries.
5.I have considered the arguments advanced by the learned counsel for the applicant and the learned counsel for the respondents. 6.The machineries having been seized pursuant to orders passed by this Court on 20.11.2023 cannot be ordered to be released straight away without further enquiry.
7.It is noticed that the dispute between the parties is arbitrable. Therefore, in the interest of justice it is advisable for the parties to approach the Arbitral Tribunal under the Agreements. 8.Therefore, Mr.T.V.Lakshmanan, Advocate, (Mobile No.: 98410 67991) residing at No.17, First Floor, Queens Court, 16th Street, Jai Nagar, Arumbakkam, Chennai - 600 106, is appointed as the Sole Arbitrator to resolve the interse dispute between the applicant and the respondents.
9.The learned Arbitrator appointed herein, shall after issuing notice to the parties and upon hearing them, endeavour to complete the 2/5
arbitral proceedings and pass an award strictly in accordance with the provisions of the Arbitration and Conciliation Act, 1996, as expeditiously as possible, preferably within a period of twelve months after the date of completion of pleadings under Sub-Section 4 to Section 23 as is contemplated in Section 29-A of the Arbitration and Conciliation Act, 1996, without getting influenced by any of the observations made by this Court in this order.
10.The learned Arbitrator appointed herein shall be paid fees and other incidental charges as may be fixed with the consent of parties or in accordance with the provisions of the Arbitration and Conciliation Act, 1996, and the same shall be borne by the parties equally. In case, the respondents remain ex parte, the applicant shall pay the entire fee and other incidental charges to the Arbitrator and later recover the same from the respondents.
11.The respondents are directed to move suitable applications under Section 17 of the Arbitration and Conciliation Act, 1996 for release of the goods.
12.With the above liberty, these applications are disposed of. 01.02.2024 (1⁄2) arb / krk 3/5
C.SARAVANAN, J.
arb / krk 4/5
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