HP High Court to PNB: Stop transactions from Kerala Medical Corp account
Shimla, November 27
The HP High Court has issued a warrant of attachment by sealing the bank account of Kerala Medical Services Corporation Limited of the Kerala Government on an execution petition filed by a Baddi-based pharma company, seeking the implementation of court orders.
The court issued the warrant of attachment and directed Punjab National Bank (PNB), Thiruvananthapuram, to stop transactions from the account of Kerala Medical Service Corporation.
Justice Ranjan Sharma issued the warrant last week on a petition filed by M/s Biogenetic Drugs Pvt. Ltd.
The Baddi firm alleged in the petition that an arbitral had on June14, 2022, ruled in its favour and directed Kerala Medical Services Corporation Ltd to pay the awarded amount with interest to it but the court orders were not followed.
The petitioner stated that it was manufacturing pharmaceuticals and medicinal, chemical and botanical products at its Baddi unit. It had entered into an agreement with Kerala Medical Services Corporation Ltd, Thiruvananthapuram, regarding the purchase of medicinal, chemical and botanical products. An award of around Rs 4 crore was passed in its favour on June 14, 2022.
