Indusind Bank Ltd v. L.G.Muthumanickam S/O.Loganathan

A.No.1862 of 2019 PUSHPA SATHYANARAYANA, J.

By order dated 13.03.2019, this Court appointed Mr.T.G.Dinesh, as Advocate Commissioner, to seize and possess the vehicle in question.

2. Pursuant to the above warrant of commission issued by this Court, it is represented today by the learned counsel appearing for the applicant that the subject asset has been seized and handed over to the applicant company by the Advocate Commissioner. He would also confirm that proceedings for arbitration in connection with the transaction relating to the aforesaid asset has been initiated and are pending. The statement is recorded.

3. Notice has been sent to the respondent and postal track report has also been filed. Today, there is no representation on behalf of the respondent.

4. The learned Advocate Commissioner has filed a report dated http://www.judis.nic.in

PUSHPA SATHYANARAYANA, J.

rsi 02.04.2019 detailing the seizure of the asset and handing over of possession to the applicant. He would seek additional remuneration for the efforts undertaken by him in this regard. Considering the same, a further sum of Rs.10,000/- (Rupees Ten Thousand only) is directed to be paid by the applicant as additional remuneration within a period of two weeks from the date of receipt of a copy of this order. The Advocate Commissioner shall stand discharged.

5. In the above circumstances and since nothing further survives in this application, the same stands closed. However, it is made clear that the vehicle shall not be alienated/altered/encumbered without orders in this regard from the Arbitrator. Needless to say, as and when an award is passed, the applicant shall be at liberty to proceed as per law.

18.06.2019 rsi A.No.1862 of 2019 http://www.judis.nic.in