M/S.Cholamandalam Investment And Finance Co Ltd v. Mr.Sasikumar M S/O.Muthusamy

Application No.2125 of 2019 PUSHPA SATHYANARAYANA, J.

By order, dated 20.03.2019 this Court appointed one Mr.Annai Ezhil as Advocate Commissioner to seize and take possess the vehicle in question.

2.

It is represented today by the learned counsel appearing for the applicant that the warrant has been duly executed by the Advocate Commissioner and the vehicle has been seized on 16.05.2019 and handed over to the applicant-company by him. He would also confirm that proceedings for arbitration in connection with the transactions relating to the aforesaid asset have been initiated and pending. The statement is recorded.

3. Though the respondent is served and his name has also been printed in the cause list, there is no representation for him either in person or through counsel.

4. In the above circumstances, nothing further survives in this application and the same stands closed. However, the vehicle shall not http://www.judis.nic.in

PUSHPA SATHYANARAYANA,J.

dpq 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.

5. The learned Advocate Commissioner has filed a report dated 03.06.2019 detailing the seizure of the assets and handing over of possession to the applicant. In addition to the report a memo dated 03.06.2019 is also filed by the learned Advocate Commissioner seeking 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.

11.11.2019 dpq http://www.judis.nic.in