CLARIFICATION IN THE VGP MATTER In an interesting turn of events in the matter concerning VGP Group Companies and Firms, a challenge to the Interim Award dated 18.03.2021 was preferred by way of a four Section 34 Petitions (O.P. 310-313/2021) under the Arbitration and Conciliation Act, 1996 by senior Partners of the Group namely, Mr. V.G. Santosham, V.G.P Ravidas, V.G.P Rajadas and V.G.P. Babudas. This matter was heard by Hon’ Justice N. Satish Kumar of the Madras High Court on 16.04.2021 and an interim order was passed stating that the Award dated 18.03.2021 shall only be operative on the assets of the Partnership firms, and as far as the Companies are concerned, the existing arrangement before the NCLT shall continue to take effect. The matter is put up for final hearing shortly.

CLARIFICATION IN THE VGP MATTER
In an interesting turn of events in the matter concerning VGP Group Companies and Firms, a challenge to the Interim Award dated 18.03.2021 was preferred by way of a four Section 34 Petitions (O.P. 310-313/2021) under the Arbitration and Conciliation Act, 1996 by senior Partners of the Group namely, Mr. V.G. Santosham, V.G.P Ravidas, V.G.P Rajadas and V.G.P. Babudas. This matter was heard by Hon’ Justice N. Satish Kumar of the Madras High Court on 16.04.2021 and an interim order was passed stating that the Award dated 18.03.2021 shall only be operative on the assets of the Partnership firms, and as far as the Companies are concerned, the existing arrangement before the NCLT shall continue to take effect. The matter is put up for final hearing shortly.

With regards to the various public notices issued by Mr.V.G.Selvaraj, V.G.S. Vinod Raj, V.G.S. Rajesh that appeared in papers last week, the senior members involved in the day to day running of the Group have published their reply on 26.05.2021 stating that the various public notices in relation with the three partnership firms namely V.G. Panneerdas & Company, VGP Investments and VGP Beach Housing and certain private and public limited companies are motivated with malafide intention to cause grave injury to the brand name and reputation to the VGP Group. Appropriate civil and criminal proceedings have been initiated for the same.

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