M/S.The Waterbase Limited v. M/S.Dattatrey Enterprises And 2 Others

Appln. No.1852 of 2021 N. SATHISH KUMAR, J.

This application has been filed seeking direction to the respondents to furnish security in the form of Bank Guarantee or in any acceptable manner in favour of the applicant for a sum of Rs.84,88,202.26/- as on 28.02.2021 and have the same renewed and kept in force until the completion of the arbitration proceedings.

2. This application has been filed as an interim measure. Deficit Court fee has not been paid by the petitioner. Though the counsel for both the parties sought time stating that the matter is likely to be settled, till now, no settlement arrived. There is no material available to show that Arbitration proceedings has been invoked. Without any intention to invoke the Arbitration proceedings, one cannot keep the application, filed under Section 9 of the Arbitration and Conciliation Act, pending for ever.

3. Accordingly, this application is closed, granting liberty to the petitioner to approach the learned Arbitrator under Section 17 of the Arbitration and Conciliation Act.

22.10.2021 mst

N. SATHISH KUMAR, J.

mst Appln. No.1852 of 2021 22.10.2021