Tata Capital Limited v. Siva Industries And Holdings Limited

Application No. 1943 of 2024 in E.P. No. 46 of 2024 Application Nos. 1943 of 2024 in E.P. No. 46 of 2024 K.KUMARESH BABU, J.

This Court by order dated 12.06.2024 had injuncted the respondent from creating any further encumbrance on the immovable properites including not to create any further mortgage for availing any loans from any financial institutions. Today when the matter was taken up for hearing, the learned counsel for the applicant would submit that the respondent should be prohibited from operating the bank accounts that had been disclosed in Form-16(A) before this Court, pursuant to the order passed in Application No. 1944 of 2024. The prayer in the application is to forbear the respondent from transferring, alienating or disposing or otherwise of the assets in possession of the respondent itself in ordinary course of business such as payment of salary and statutory bills etc.

2.

The learned counsel for the respondent undertakes not to part away with the amounts lying in the bank disclosed in Form - 16(A) except the payment of salary and other statutory dues including other expenses which occurrs in the ordinary course of business.

https://www.mhc.tn.gov.in/judis Page No.1/2

Application No. 1943 of 2024 in E.P. No. 46 of 2024 K.KUMARESH BABU, J.

Maya 3.

Recording the said undertakings, no further order is required to be made in this application.

29.08.2024 Maya Application No. 1943 of 2024 in E.P. No. 46 of 2024 https://www.mhc.tn.gov.in/judis Page No.2/2