M/S. Vanguard India Pvt. Ltd vs The National Small Industries ...
2021 Latest Caselaw 578 Gua

                                                                     Page No.# 1/3

GAHC010026112017




                              THE GAUHATI HIGH COURT
   (HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)

                                   Case No. : Arb.A./9/2017

            M/S. VANGUARD INDIA PVT. LTD.
            A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956, HAVING
            ITS CORPORATE OFFICE AT SADILAPUR PANDU ROAD, GUWAHATI-1,
            GUWAHATI-1, DIST. KAMRUPM, ASSAM, REPRESENTED BY ITS
            MANAGING DIRECTOR SRI K.K. BORA.



            VERSUS

            THE NATIONAL SMALL INDUSTRIES CORPORATION LTD. and ANR
            A GOVT. OF INDIAN UNDERTAKING HAVING ITS REGISTERED OFFICE AT
            LAGHU UDYOG BHAVAN, NEAR OKHAL INDUSTRIES ESTATE, NEW
            DELHI-110020 AND ITS ONE OF THE REGIONAL OFFICE AT D.S. MANSION,
            R.G. B. ROAD, GUWAHATI-24, DIST. KAMRUPM, ASSAM.

            2:INDRA KALITA

            SUB-REGISTRAR OF COOPERATIVE SOCIETIES
            OFFICE OF THE DEPUTY REGISTRAR OF COOPERATIVE SOCIETIES
            JORHAT
            OLD CIRCUIT HOUSE ROAD
            JORHAT
            ASSAM
            PIN 785001 SINCE M/S UDDYOGIK SAMABAY BANK LTD. A CO-
            OPERATIVE BANK
            REGISTERED UNDER ASSAM CORPORATIVE SOCIETIES ACT
            1949 HAVING ITS REGISTERED OFFICE AT JORHAT 785001
            DIST. JORHAT
            ASSAM IS UNDER LIQUIDATION

Advocate for the Petitioner   : MR.P P DUTTA

Advocate for the Respondent :
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                                   BEFORE
                   HONOURABLE MR. JUSTICE KALYAN RAI SURANA

                                           ORDER

Date : 19.02.2021

Heard Mr. P.S. Deka, learned counsel for the appellant and Mr. J. Deka, learned counsel for the respondents.

This appeal has been filed under section 37(1)(b) of the Arbitration and Conciliation Act, 1996 to assail the judgment dated 28.06.2016, passed by the learned Additional District Judge No. 2, Kamrup (M), Guwahati, thereby dismissing the application filed under section 34 of the said Act.

The appeal is listed for admission hearing.

At this stage, the learned counsel for the respondents has opposed the admission of the appeal on the ground that in connection with an arbitration proceeding, which was numbered as Arb. Case No. 1/2002, the Arbitral Tribunal had passed an award for Rs.1,18,68,411.00, with interest @ 18% from the date of an award till the date of recovery along with cost of Rs.40,000.00. There were six respondents in the arbitration proceeding and the liability to satisfy the aforesaid part of the award was on the respondent nos. 1 to 5 of the said arbitration proceedings, out of which only the appellant had preferred this appeal. It is submitted that in view of the provisions of Order XLI, Rule 1(3) CPC, it was obligatory on part of the Court to direct the appellant to either deposit a part of the award or to furnish security for such money. It is submitted that for compliance of the provisions of Order XLI, Rule 1(3) CPC, the appellant may be granted time for compliance and that pending compliance, this appeal may not be admitted at this stage.

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This aforesaid plea of the respondents has been dealt with in the connected IA(C) 1930/2017, which is a connected application filed by the appellant under the provisions of Order XLI, Rule 5 CPC. For the reasons assigned therein, the appeal is admitted for hearing.

Call for the records of (i) Misc. (Arb.) Case No. 77/2009 from the Court of learned Additional District Judge No.2, Kamrup (M), Guwahati, and (ii) from the Arbitral Tribunal of A.B. Banerjee, sole arbitrator through the office of the respondent no.1.

Issue notice returnable in 6 (six) weeks. As the learned counsel for the respondents has accepted notice, requisite additional copies of the memo of appeal be furnished to him within 4 (four) days.

List after 6(six) weeks, awaiting receipt of records.

JUDGE

Comparing Assistant