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Madras High CourtA/4450/2018closed

M/S.Cholamandalam Investment v. Mr.Vicky Ravindra Patil

2020-07-29Honourable Mr Justice N. Sathish Kumar3 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 29.07.2020

CORAM

THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR M/s. Cholamandalam Investment and Finance Company Limited, 'Dare House', No.2, N.S.C. Bose Road, Parrys, Chennai - 600 001.

Represented by its Authorised Signatory.

... Applicant Vs.

Vicky Ravindra Patil ... Respondent Prayer: Application filed under Order XIV, Rule 8 of O.S.Rules r/w Section 9(ii) (b) of the Arbitration and Conciliation Act, 1996 to direct the respondent to furnish security for the sum of Rs.1,57,944/- within a time fixed by this Court failing which to order of attachment of the immovable properties morefully described in the schedule to the Judges Summons pending disposal of arbitration proceedings between the applicant and the respondent and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order be transmitted through the District and Sessions Court, Thane, Maharashtra and the attachment order may be hand delivered to the applicant for transmission. For Applicant : Mr. D. Pradeep Kumar 1/3

O R D E R

This application has been filed to direct the respondent to furnish security to the tune of Rs.1,57,944/- failing which to order attachment of the property morefully described in the schedule to the Judges summons, pending disposal of the proposed arbitration proceedings. 2.

This Court by an Order dated 20.08.2018 had directed the respondent to furnish security. Despite the same, the respondent has not furnished security. Hence, the applicant seeks for an Order of attachment of the property of the respondent.

3.

In view of the same, there shall be an interim Order of attachment as against the respondent. In the meanwhile, the applicant shall initiate arbitration proceedings within three months, failing which, the interim Order granted by this Court stands automatically vacated. The registry is directed to intimate the Order of attachment to the concerned Registrar.

4.

With the above observations, this application is closed. 29.07.2020 AT 2/3

N.SATHISH KUMAR, J.

AT 29.07.2020 3/3