M/S.Cholamandalam Investment v. M/S.Clement Rajaseelan Vincent

A.No.5633 of 2016 in O.P.No.465 of 2013 RAJIV SHAKDHER, J.

This is an application filed to seek modification of order dated 16.09.2016, to the extent that, while it permits the applicant to seek release of the sum of Rs.20,00,000/- (Rupees Twenty Lakhs only) deposited by respondent No.1, the release is dependant on "solvent security" being furnished.

2. Learned counsel for the applicant says that the applicant will furnish a bank guarantee of a nationalised bank in the sum of Rs.20,00,000/- (Rupees Twenty Lakhs only), as a condition precedent for release of the sum of Rs.20,00,000/- (Rupees Twenty Lakhs only).

3. According to me, the Registrar General should have acted on the order dated 16.09.2016, if such an offer was made by the applicant, nevertheless it is made clear that, if a bank guarantee is furnished as indicated above by the applicant, the said sum will be released in terms of the said order.

RAJIV SHAKDHER, J.

vsm

4. The captioned application is disposed of, accordingly. 03.11.2016 vsm Note: Issue order copy today (i.e. 03.11.2016) A.No.5633 of 2016 in O.P.No.465 of 2013 http://www.judis.nic.in