M/S.Kotak Mahindra Bank Ltd v. Premavathi R And Another

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATE: 02.09.2020

CORAM

THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR A.No.5380 of 2019 M/s.Kotak Mahindra Prime Limited, Samson Towers, 6 th Floor, 402L, Patheon Road, Egmore, Chennai-600 008.

rep. By its Authorised Signatory ... Applicant Vs

1. Premavathi R, No.3, 77 th Street, 16 th Avenue, Ashok Nagar, Chennai-600 083.

2. Ashok Singh L, No.3, 77 th Street, 16 th Avenue, Ashok Nagar, Chennai-600 083.

... Respondents PRAYER : Application filed under Order XIV Rule 8 of Original Side Rules r/w Section 9 of the Arbitration and Conciliation Act, 1996, praying to Page 1/4

furnish security for a sum of Rs.19,28,103/- being the claim of the applicant arising under the Loan Agreement No.14844259 dated 21.09.2017 against the respondents, within such time as this Hon'ble Court may stipulate and in case of default to order attachment before judgment of the immovable property of the second respondent morefully described in the schedule to the judges summons and the copy of the order to be sent to the Hon'ble City Civil Court. For Applicant :

Mr.M.Naresh Babu

O R D E R

This application has been filed praying to furnish security for a sum of Rs.19,28,103/- being the claim of the applicant arising under the Loan Agreement No.14844259 dated 21.09.2017 against the respondents, within such time fixed by this Court and in case of default to order attachment before judgment of the immovable property of the second respondent morefully described in the schedule to the judges summons.

2. The learned counsel appearing for the applicant submitted that pending application, the award has been passed on 12.01.2019. Page 2/4

3. In such view of the matter, this Court is not inclined to pass any order in this application. It is well open to the applicant to enforce the Award as per law.

4. With the above observation, this application is closed. 02.09.2020 rpp Page 3/4

N.SATHISH KUMAR, J.

rpp A.No.5380 of 2019 02.09.2020 Page 4/4