M/S.Sundaram Finance Ltd., v. Mr.Ummer Farook

Application No.2426 of 2017 DR.ANITA SUMANTH,J.

By order dated 21.04.2017, this Court appointed Mr.Jayanath Nayak Su­ jeer, Branch Manager of the applicant company, as a 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 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. Though the respondent has been served and his name appears in the cause list, none appears on his behalf.

4. 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

DR.ANITA SUMANTH,J.

smi 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. smi 27.06.2017 Application No.2426 of 2017 http://www.judis.nic.in