M/S.Indusind Bank Ltd v. M/S.Pamusa Logistic Services

APPLICATION NO.4405 OF 2018 M.GOVINDARAJ, J.

By order dated 31.08.2018, this Court appointed Mr.P.Dhanapal of the applicant, as Receiver to seize and take possession of the subject vehicle in question.

2.Pursuant to the order passed by this Court, it is now represented by the learned counsel appearing for the applicant that the vehicle has been repossessed by the applicant and arbitration proceedings have been initiated and the same is pending. Till completion of the arbitration proceedings, they will not alienate the vehicle. The said statement is recorded.

3. In view of the above, nothing survives for further adjudication in this application and the same stands closed. Both the applicant as well as the respondent are entitled to take such further action, as they may desire, in accordance with law.

12.12.2018 TK http://www.judis.nic.in

M.GOVINDARAJ, J.

TK APPLICATION NO.4405 OF 2018 12.12.2018 http://www.judis.nic.in