M/S.Cholamandalam Investment And Finance Co. Ltd., v. M/S.Bavani Crane Service And Another

A.No. 3261 of 2020 P.T.ASHA, J.

The learned counsel for the applicant would submit that they have already initiated arbitration proceedings. He further submitted that the counter has been filed in which the Garnishee would admit that the first respondent has rendered services for them and for which the bills are yet to be submitted by the first respondent and that, as and when these bills are submitted, the amounts would be paid after ascertaining any recovery due from them to the Garnishee.

2. Considering the fact that the amounts are due from the first respondent to the applicant and that amounts are payable by the Garnishee to the first respondent, there shall be a stay of disbursement of the excess amounts by the second respondent/Garnishee to the first respondent that would be available after adjusting the same towards any dues of the Garnishee payable by the 1st respondent till the constitution of the arbitral Tribunal. Once the arbitral Tribunal is constituted, the applicant shall move the arbitral Tribunal for further reliefs in the Garnishee application.

3. The Application is disposed of on the above terms. No costs. 17.02.2021 msm

P.T.ASHA, J.

msm A.No. 3261 of 2020 17.02.2021