M/S.Cholamandalam Investment And Finance Co.Ltd v. Mr.Siddharth Pradeep Varyani And Another

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) FRIDAY, THE 09TH DAY OF JULY 2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR A. No.610 of 2021 In the matter of Arbitration & Conciliation Act, 1996 And In the matter of Disputes between M/S.CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED and Mr.Siddharth Pradeep Varyani and another arising under Loan Agreement No.XVFPGDM00002318214 Dated 13.03.2018 and Supplemental Agreement No.

XVFPGDM00002867341 DATED 22.03.2019.

M/S.CHOLAMANDALAM INVESTMENT AND FINANCE CO.LTD., No.45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys, Chennai-600 001., Represented by its Authorised Signatory.

..Applicant -Vs1. MR.SIDDHARTH PRADEEP VARYANI, S/o.Pradeep Varyani, No.072, Lilasha Nagar, Meghpar Borichi, Kutch, TA-Anjar, Near Arihant Nagar, Gujarat - 370 110.

2. MR.RAKESH ANSHIRAM VARYANI S/o.Anshiram Varyani, No.072, Lilasha Nagar, Meghpar Borichi Kutch, TA-Anjar, Near Arihant Nagar, Gujarat-370 110.

..Respondents Application praying that this Hon'ble Court be pleased to direct the Respondent to furnish security for the sum of Rs.17,53,288/- 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 and disposal of arbitration proceedings between the applicant and the Respondents and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order be transmitted through the District Court, Bhuj, Gujarat and the attachment order may be hand delivered to the applicant for transmission.

This Application coming on this day before this court for hearing the court made the following order:

This application has been filed to direct the respondents to furnish security for a sum of Rs.17,53,288/- within the time fixed by this Court, failing which pass an Order of attachment of the immovable property mentioned in the Judges summons.

2. It is submitted by the learned counsel appearing for the applicant that award has already been passed in this matter.

3. In such view of the matter, this Court is not inclined to pass any order in this application and the applicant has to work out the remedy to execute the award. Accordingly, this application is closed. Sd/.N.S.K.J.

09.07.2021 //Certified to be a true copy// Dated this the th day of 2021. SU/22.07.2021 COURT OFFICER(O.S.) From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.