M/S. Cholamandalam Investment v. Mr. Jayaprakash S

Application No.1083 of 2016 DR.ANITA SUMANTH,J.

By order, dated 17.02.2017, this Court appointed Mr.Jaison Joseph, Senior Legal Executive of the applicant company, as a Receiver, to seize and possess the vehicle in question.

2. Pursuant to the warrant of commission issued by this Court to seize the vehicle, it is today represented by the learned counsel appearing for the applicant that the subject asset has been seized and handed over to the applicant company by the Receiver. He would also point out that arbitration proceedings have been initiated and are pending in Arbitration Case No.SD 1592/2016. The said statement is recorded.

3. Though the respondent has been served and his name appears in the cause list, none appears on his behalf.

4. In the above circumstances, nothing further survives in this application and the same stands closed. However, the vehicle shall not be alienated/altered/encumbered by the applicant during the pendency of the

DR.ANITA SUMANTH,J.

vsm proceedings for arbitration without obtaining suitable directions in this regard from the Arbitrator. Needless to say, as and when an award is passed, the parties shall be at liberty to proceed as per law. vsm 05.06.2017 Application No.1083 of 2016

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