M/S.Equitas Small Finance Bank Ltd v. M/S.Shiva Vishnu Agency Rep.By Its Proprietor Mr.Ammani Vasudevan
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) TUESDAY, THE 06TH DAY OF JULY 2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR A. No.3027 of 2019 In the matter of Arbitration & Conciliation Act, 1996 And In the matter of Disputes between M/s Equitas Small Finance Bank Limited and M/s Shiva Vishnu Agency And others Arising under Loan Agreement Dated 04.07.2018 bearing Loan Agreement No.BLGRCPX0002715.
M/s. Equitas Small Finance Bank Limited, 4th Floor, Phase-II, Spencer Plaza, 769, Anna Salai, Chennai, Tamil Nadu - 600 002.
Represented by its Authorised Signatory Mr.K.Siva Raja Pandian (Emp.No.36197) : Applicant -Vs1.M/s Shiva Vishnu Agency, Represented by Its Proprietor Mr.Ammani Vasudevan, No 53, Siva Patham 3rd Street, Parthasarathi Nagar, Thazhai, Madhavaram Milk Colony, Tiruvallur.
...Borrower/Respondents -1
2.Mr.Ammani Vasudevan, Proprietor, M/s Shiva Vishnu Agency, No.21, Pillaiyar Kovil Street, Potheri, Kanchipuram, Tamilnadu - 603203.
...Co Borrower-1/Respondents-2 3.Mr.Vasudevan No.21, Pillaiyar Kovil Street, Potheri, Kanchipuram, Tamilnadu - 603 203.
...Guarantor / Respondents-3 Application praying that this Hon'ble Court be pleased to direct the Respondents to furnish security for the sum of Rs.3,21,919/- within a time fixed by this Hon'ble Court failing which to order attachment of the immovable property morefully described in the Schedule to the Judges Summons and a copy of the attachment order to be transmitted through the District Court, Chengalpattu and the attachment order may be hand delivered to the applicant for transmission.
This Application coming on this day before this court for hearing the court made the following order:
This application has been filed to direct the respondents to furnish security for the sum of Rs.3,21,919/- within a time fixed by this Court failing which to order attachment of the immovable property morefully described in the Schedule to the Judges Summon and a copy of
the attachment order to be transmitted through the District Court, Chengalpattu and the attachment order may be hand delivered to the applicant for transmission.
2. This application is pending from the year 2019 and it is not brought to the notice of this Court, whether the applicant has initiated arbitration proceedings or not. The same clearly indicate that the applicant is not having any manifest intention to invoke arbitration proceedings.
3. In such view of the matter, this Court is not inclined to grant any relief in this application. This application is closed. Sd/.N.S.K.J.
06.07.2021 //Certified to be a true copy// Dated this the th day of 2021. SU/22.07.2021 COURT OFFICER(O.S.) From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.