M/S. Indusind Bank Ltd v. M/S. Gomathi Steels

Application No.5973 of 2018 PUSHPA SATHYANARAYANA, J.

This Court, upon hearing the learned counsel for the applicant, vide order dated 18.10.2019, directed the respondents to furnish security to the extent of the claim made in the application being an amount of Rs.55,79,460.31, on or before 15.11.2019, failing which, an order of attachment would be passed.

2. When the matter is taken up for hearing today, learned counsel for the applicant would submit that no security has been furnished as directed by this Court. He would further submit that an award in arbitration between the applicant and the respondents has been passed on 18.01.2019.

3. Heard the learned counsel appearing for the applicant and the learned counsel appearing for the respondents. The learned counsel for the respondents has also admitted the liability and stated that the property sought to be attached is already mortgaged with the IDBI Bank.

4. There is no representation for the respondents either in person or through counsel. Hence, service to the respondents is held sufficient. PUSHPA SATHYANARAYANA, J.

drl https://www.mhc.tn.gov.in/judis

5. In the above circumstances, there shall be an order of attachment as

prayed for.

6. In view of the above direction, nothing further survives for adjudication and this application stands closed. The parties are free to take such action, as they may desire hereinafter, in accordance with law. 15.11.2019 drl Application No.5973 of 2018 https://www.mhc.tn.gov.in/judis