Hdb Financial Services Ltd v. Mr.Sainudheen Koyathangal S/O.Entheenkutty Koyathangal

Application No.1935 of 2019 PUSHPA SATHYANARAYANA, J.

By order, dated 13.03.2019, this Court appointed Mr.Unnikrishnan P.R., of the applicant company as receiver to seize and possess the vehicle in question.

2. Pursuant to the warrant of commission issued by this Court to seize the vehicle, it is today represented by the learned counsel appearing for the applicant that the subject asset has been seized on 29.04.2019 and handed over to the applicant company by the Receiver. He would also point out that arbitration proceedings have been initiated and are pending. The said statement is recorded.

3. In the above circumstances, nothing further survives in this application and the same stands closed. However, the vehicle shall not be alienated/altered/encumbered by the applicant during the pendency of the proceedings for arbitration without obtaining suitable directions in this regard from the Arbitrator. Needless to say, as and when an award is passed, the parties shall be at liberty to proceed as per law.

25.06.2019 rsi http://www.judis.nic.in

PUSHPA SATHYANARAYANA, J.

rsi Application No.1935 of 2019 25.06.2019 http://www.judis.nic.in