Extraco Composites India Private Limited v. Bgr Energy Systems Limited,
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 31-10-2025
CORAM
THE HONOURABLE MR JUSTICE N. ANAND VENKATESH in Arb O.P(Com.Div.) No. 54 of 2023 Extraco Composites India Private Limited having CIN U25209TN2006PTC061025, Registered office at 2nd Floor, 995-P Diamond Plaza, 12th Main Road, Anna Nagar, Chennai- 600 040.
Petitioner(s) Vs BGR Energy Systems Limited, (CIN L40106AP1985PLC005318) Having Registered Office at Plot No.5, Pannamgadu Industrial Estate, Ramapuram Post, Sullurpet Taluk, Nellore District, Andhra Pradesh - 524 401.
Having Branch Office at EED Factory - Panjetty Village, Ponneri Taluk, Thiruvallur District.
Corporate Office at No.443, Anna Salai, Teynampet, Chennai-600 018.
Respondent(s)
PRAYER Attachment of Immovable Properties as against the JD may be ordered by way of issuance of Precepts through the District Munsif Court, Ponneri. For Petitioner(s):
Ms.S.Meenakshi for Mr.M.Vijayanand Counsel for Decree Holder For Respondent(s):
Mr.C.P.Prasanth Gopal
ORDER
This execution petition has been filed to execute the award passed by the sole Arbitrator dated 23.07.2024, wherein the judgment debtor was directed to pay a sum of Rs.62,56,681/- with interest at the rate of 18% per annum from 01.06.2020 till the date of realisation and also costs.
2. Heard both sides.
3. This Court gave an opportunity to the judgment debtor to compromise the case and till date, the parties were not able to reach any settlement.
4. It is brought to the notice of this Court that the award has become final and the same has not been put to challenge.
5. The present petition has been filed to order issuance of Precept to the District Munsif Court at Ponneri, in order to attach the immovable properties.
6. The learned counsel for the judgment debtor submitted that the property is already under mortgage with the Bank and the judgment debtor is trying his best to settle the dispute.
7. In the considered view of this Court, if the Bank already has a charge over the property, the second charge can be created in favour of the petitioner/decree holder. Hence, to enable the attachment of the immovable property under Section 46 of CPC, this Court orders attachment of the immovable property by way of issuance of Precept through the District Munsif Court, Ponneri. This order shall be forwarded and the second charge shall be created on the immovable property and necessary entry shall be made in the encumbrance certificate by the concerned Sub Registrar Office.
8. This execution petition is allowed in the above terms. 31-10-2025 Index:Yes/No Speaking/Non-speaking order Internet:Yes ss
N.ANAND VENKATESH J.
ss in Arb O.P(Com.Div.) No.54 of 2023 31-10-2025