ARKAY ENERGY RAMESWARAM LTD Vs. MADURA COAST PVT LTD

JUDGEMENT

(1.) These two intracourt appeals have arisen from the common order of the learned Single Judge of this Court allowing the applications in Application Nos.4782 and 4835 of 2009 and prohibiting the second respondent garnishee therein from paying the first respondent, the appellant herein, a sum of Rs.26.67 crores and also from disbursing the amount under the agreement on account of the purchase of electrical energy from the appellant and direct the said garnishee to deposit the said amount into the Court pending disposal of the arbitral proceedings.

(2.) These appeals have arisen under the following circumstances:

(3.) Advancing arguments on behalf of the appellant, the learned Senior Counsel Mr.AR.L.Sundaresan in OSA 450/2009 and the learned Senior Counsel Mr.R.Muthukumarasamy in OSA No.2/2010 would submit that when the earlier orders passed by the learned Single Judge granting interim injunction were challenged before this Court, this Court had an occasion to consider all the submissions made and pointed out in paragraph 26 of the order that the arbitral proceedings are pending and the questions as to whether the respondents continue to be the captive consumers and whether they are entitled to have supply of electrical energy continuously and whether they are entitled for damages, and if to be so, what is the quantum are to be decided in the arbitral proceedings; and that under the circumstances, the amount is not at all quantified and it remains unascertained.