Shrinithi Capital Private Ltd v. Poolar M
Arb.Appln.No.610 of 2025 M/s.Shrinithi Capital Private Ltd., Represented by its Chief Manager R.Selvam ... Applicant vs.
1.Poolar 2.Eswaran ... Respondents For Applicant : Mr.K.Sendurpandi For Respondents : Set Exparte ABDUL QUDDHOSE, J.
This application has been filed under Section 9 of the Arbitration and Conciliation Act, 1996, seeking for a direction to the first and second respondents to furnish security to the extent of the claim amount of Rs.7,11,483/-, which according to the applicant is due as on 19.02.2025. The respondents are defaulters in the repayment of the loan to the applicant under the loan cum hypothecation agreement dated 21.04.2021.
2. As directed by this Court, the learned counsel for the applicant has intimated the order dated 14.07.2025 passed by this Court to the respondents. In the said order, this Court had directed the respondents to furnish security to the extent of the claim amount of Rs.7,11,483/- on or Page No.1 of 3
before the next hearing date. The Affidavit of Service (AOS) including the delivery report, which confirms that the respondents have been made aware of the order dated 14.07.2025 passed by this Court, has been filed. Since the respondents have not furnished the security to the extent of Rs.7,11,483/- as directed by this Court, in its order dated 14.07.2025, this Court has to necessarily pass the consequential order of attachment as prayed for in this application. The property for which the attachment is sought for belongs to the 1st respondent.
3. Accordingly, this application is allowed as prayed for by ordering attachment of the property owned by the 1st respondent morefully described in the schedule to the Judges Summons. The applicant is permitted to communicate this order to the concerned Sub-Registrar Office as well as to the concerned Statutory Authorities to effect encumbrance in their respective records. No costs.
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ABDUL QUDDHOSE.
J.
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