Madras High CourtA/118/2018closed

M/S.India Infoline Finance Ltd v. Mr.Gunji Srinivas

2020-07-13Honourable Mr Justice N. Sathish Kumar3 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 13.07.2020 CORAM :

THE HONOURABLE MR. JUSTICE N.SATHISH KUMAR A.No.118 of 2018 M/s. India Infoline Finance Ltd., Represented by its Legal and Recovery Associate Mrs.B.Kavitha IIFL Towers, No.143, MGR Road (Near Life Line Hospital) Perungudi, Chennai-600 096.

.. Applicant Vs.

1.Mr,Gunji Srinivas Madhavakrupa Apartment No.201, Srungeri Colony Road Nem-2, Kothapeta Mohan Nagar Saroornagar Muthoot Finance Andhra Pradesh-500 035 2.Mrs.Gunji Radha Madhavi Madhavakrupa Apartment No.201, Srungeri Colony Road Nem-2, Kothapeta Mohan Nagar Saroornagar Muthoot Finance Andhra Pradesh-500 035 .. Respondents PRAYER: This application is filed under Order XIV Rule 8 of OS Rules r/w Sec.9(2) (a) (b) (e) of the Arbitration and Conciliation Act 1996 to

appoint employee of the applicant namely, Mr.Vijay Kumar Kondadi (Assistant Collection Manager) as receiver with direction to seize the schedule mentioned asset which is lying under the custody of the respondents or their men, agents, servants or anyone claiming under them from their premises at Madhavakrupa Apartment, No.201, Srungeri Colony Road, Nem-2, Kothapeta Mohan Nagar, Saroornagar, Muthoot Finance, Andhra Pradesh-500 035 or at any other place where the scheduled assets is found, with police aid and by breaking open locks if necessary and to take the same into his/her custody and sell the same at fair market price pending disposal of the arbitration proceedings.

For Applicant : Mr.K.Moorthy

O R D E R

By an order dated 09.01.2018, this Court while appointing the Receiver made it clear that if the applicant fails to initiate arbitration proceedings, the order shall be revoked. However, the learned counsel for the applicant did not file any particulars as to whether the arbitration proceedings invoked or not.

2. In view of the same, this application is closed. Sd/.N.S.K.J.

13.07.2020 //Certified to be a true copy// Dated this the th day of 2020. su.31.08.2020 COURT OFFICER(O.S.) From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.