M/S.Cholamandalam Investment v. Mr.Pravin Kripan

A.No.5817 of 2018 N.SATHISH KUMAR, J.

This application has been filed to direct the respondent to furnish security to the tune of Rs.7,38,086/- failing which to Order attachment of the immovable properties morefully described in the schedule to the Judges summons, pending disposal of the proposed arbitration proceedings.

2. In the last hearing this Court has directed the second respondent to filing an affidavit of undertaking not to sell the property.

3. Today, when the matter is taken up, the respondents have not filed any affidavit and sought further time.

4. 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.

5. With the above observations, this application is closed. 12.03.2020 vrc http://www.judis.nic.in

N.SATHISH KUMAR, J.

vrc A.No.5817 of 2018 12.03.2020 http://www.judis.nic.in