M/S.Cholamandalam Investment And Finance Co.Ltd v. Mr.Gelabhai Malabhai Gohil

A.No.611 of 2021 V.PARTHIBAN,J.

This is an application filed under Section 9 of the Arbitration and Conciliation Act, 1996, seeking a direction to the respondent to furnish security for a sum of Rs.2,50,833/- within a time fixed by this Hon'ble Court failing which to order attachment of the immovable properties morefully described in the schedule to the Judges Summons pending initiation & disposal of arbitration proceedings between the applicant and the respondent and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order to be transmitted through the District Court, Bhuj, Gujarat and the attachment order may be hand delivered to the applicant for transmission.

2. Heard Mr.D.Pradeep Kumar, learned counsel for the applicant.

3. Notice was ordered in this application. Private notice was also taken and service is completed on the respondent and the name of the respondent is also printed in the cause list. There is no representation on behalf of the respondent. Therefore, the matter was taken up.

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V.PARTHIBAN,J.

Vsi

4. By order dated 07.04.2021, this Court had directed the respondent to furnish security to the extent claimed by the applicant within a period of three weeks i.e., 28.04.2021. It is represented that the said direction has not been complied with.

5. In such view of the matter, there shall be an order of attachment of the property described in the Judge's summons. The applicant shall initiate arbitral proceedings within a period of four weeks. Accordingly, the application stands allowed. 24.06.2021 vsi A.No.611 of 2021 https://www.mhc.tn.gov.in/judis/