M/S.Kotak Mahindra Bank Ltd v. Krishnan G And 2 Others

A.No.3129 of 2019 PUSHPA SATHYANARAYANA, J.

By order dated 22.04.2019, this Court appointed Mrs.M.Backiyalakshmi, as Advocate Commissioner, to seize and possess the vehicle in question.

2. Pursuant to the above warrant of commission issued by this Court, it is represented today by the learned counsel appearing for the applicant that the subject asset has been seized on 09.05.2019 and handed over to the applicant company by the Advocate Commissioner. He would also confirm that proceedings for arbitration in connection with the transaction relating to the aforesaid asset has been initiated and are pending. The statement is recorded.

3. The learned Advocate Commissioner has filed a report dated 25.06.2019 detailing the seizure of the asset and handing over of possession to the applicant. She would seek additional remuneration for the efforts undertaken by her 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 http://www.judis.nic.in

PUSHPA SATHYANARAYANA, J.

rsi two weeks from the date of receipt of a copy of this order. The Advocate Commissioner shall stand discharged.

4. In the above circumstances and since nothing further survives in this application, the same stands closed. However, it is made clear that the vehicle shall not be alienated/altered/encumbered without orders in this regard from the Arbitrator. Needless to say, as and when an award is passed, the applicant shall be at liberty to proceed as per law.

01.07.2019 rsi A.No.3129 of 2019 http://www.judis.nic.in