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2011 (3) TMI 1456 - HIGH COURT OF MADRASDefault in payment of hire charges – allegation of cheating - criminal suit - It is alleged that there was default in payment of hire charges and the complainant company invoked the arbitration clause and obtained arbitration award. But while executing the award, they found that the machinery was hypothecated with the IDBI which had the first charge over the machinery. The allegation is that petitioners Nos. 1 to 3 have fraudulently represented and deceived the company that there was no charge over the machinery and the fourth petitioner issued a no lien certificate. Held that:- Whether the complainant had knowledge of the previous charge and whether the petitioner had fraudulent intention for cheating are the matters for trial. In such view of the matter, this court finds no reason, much less valid reason to interfere with the proceedings at this stage.
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