M/S Equitas Small Finance Bank Limited v. Mr.Venkatesa Perumal P And 2 Others
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) FRIDAY, THE 16TH DAY OF APRIL 2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR A. No.2371 of 2020 In the matter of Arbitration & Conciliation Act, 1996 and In the matter of Disputes between M/s.Equitas Small Finance Bank Limited and MR.VENKATESA PERUMAL P, and others Arising under Loan Agreement Dated 17.09.2016 bearing Loan Agreement No. SLTHENI0111566.
M/S.EQUITAS SMALL FINANCE BANK LIMITED, 4TH FLOOR, PHASE-II, SPENCER PLAZA, 769 ANNA SALAI, CHENNAI, TAMILNADU - 600 002.
REPRESENTED BY ITS AUTORISED SINGATORY MR.R.S.BHARATH (EMP.NO.31681) ..Applicant -Vs1. MR.VENKATESA PERUMAL P , NO.74/97C, MUNNDAI SALAI, KTS KALAVASAL, CUMBUM, THENI-625 516.
..BORROWER/RESPONDENT-1
2. MR.PONNUSAMY S NO.74/97C, MUNNDAI SALAI, KTS KALAVASAL, CUMBUM, THENI - 625 516.
..CO..BORROWER/RESPONDENT-2
3. MR.JOSEPH ARUN KUMAR A NO.16C, SP KOVIL STREET, CUMBUM, THENI - 625 516.
..GUARANTOR/RESPONDENT-3 Application praying that this Hon'ble Court be pleased to direct the Respondents to furnish security for the sum of Rs.7,45,648/- within a time fixed by this Hon'ble court failing which to order attachment of the immovable property morefully described in the Schedule - I to the Judges Summons pending initiation and disposal of the arbitration proceedings between the Applicant and the Respondents and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order to be transmitted through the District Court, Theni, and the attachment order may be hand delivered to the applicant for transmission.
This Application coming on this day before this court for hearing the court made the following order:
This application has been filed to direct the respondents to furnish security for a sum of Rs.7.45,648/- within the time fixed by this Court,
failing which pass an Order of attachment of the immovable property mentioned in the Judges summons.
2. It is submitted by the learned counsel appearing for the applicant that award has already been passed in this matter.
3. In such view of the matter, this Court is not inclined to pass any order in this application and the applicant has to work out the remedy to execute the award. Accordingly, this application is closed. Sd/.N.S.K.J.
16.04.2021 //Certified to be a true copy// Dated this the th day of 2021. su.27.04.2021 COURT OFFICER(O.S.) From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.