May 24, 2021
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An interim award was given by Arbitrator Justice K Kannan (Retd), who was appointed by the Madras High Court
Three partnership firms – VG Panneerdas & Company; VGP Investments and VGP Beach Housing – belonging to the famous Chennai-based VGP group have been ordered to be dissolved by an interim award given on March 18, 2021, by Arbitrator Justice K Kannan (Retd), who was appointed by the Madras High Court.
A public notice issued by five partners – VG Selvaraj; VGP Prasad Das; VGP Murphy Das; VGS Rajesh and VGS Vinodh Raj – said that P Rajagopal, Advocates, has been appointed as the receiver by the Arbitrator to take charge of all the assets of the three firms. These are VGP Golden Beach Resorts; VGP Agro Farms Pvt Ltd; VG Paneerdas & Company Pvt Ltd; VGP Housing Pvt Ltd and VGP Marine Kingdom Pvt Ltd.