Cholamandalam Investment And Finance Co. Ltd v. Vajirkha Ayubkha Karmati

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 27/7/2020 C O R A M THE HON'BLE MR.JUSTICE N.SATHISH KUMAR Application No.211 of 2019 Cholamandalam Investment and Finance Company Limited rep. By its Authorised Signatory Date House, No.2 NSC Bose Road Parrys Chennai 600 001.

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Applicant Vs Vajirkha Ayubkha Karmati ...

Respondent Application filed under XIV Rule 8 of Original Side Rules, 1956 r/w. Section 9 (ii) (b) of the Arbitration and Conciliation Act, 1996. For applicant ...

Mr.D.Pradeep Kumar - - - - - -

O R D E R

This application has been filed by the applicant, seeking a direction to the respondent to furnish security to the tune of Rs.5,56,267/- failing which to order attachment of the schedule

mentioned properties more fully described in the judges summons.

2. This Court by an Order, dated 18/3/2020, had directed the respondent to furnish security. Despite the same, the respondent has not furnished security. Hence, the applicant seeks for an Order of attachment of the property of the respondent.

3. In view of the same, there shall be an interim Order of attachment as against the respondent. In the meanwhile, the applicant shall initiate arbitration proceedings within three months, failing which, the interim Order granted by this Court stands automatically vacated. Registry is directed to intimate the Order of attachment to the concerned Registrar.

4. With the above observations, this application is closed. 27/7/2020 mvs.

N.SATHISH KUMAR,J mvs.

Application No.211 of 2019 27/7/2020