M/S.Cholamandalam Investment And Finance Company Limited v. Mr.Prakashbhai Shivabhai Palani

A.No. 3939 of 2019 A.No. 3939 of 2019 N.SATHISH KUMAR, J.

This application has been filed to direct the respondent to furnish security to the tune of Rs.4,26,552/- failing which to order attachment of the immovable properties morefully described in the schedule to the Judges summons pending disposal of arbitration proceedings.

2. This Court by an Order dated 23.03.2020 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 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. 01.10.2020 msv http://www.judis.nic.in 1/2

A.No. 3939 of 2019 N.SATHISH KUMAR, J.

msv A.No.3939 of 2019 01.10.2020 http://www.judis.nic.in 2/2