M/S.Cholamandalam Investment And Finance Co.Ltd. v. Mr.Mubarak Khan

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 21.09.2020 CORAM :

THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR Application No.6032 of 2019 M/s.Cholamandalam Investment and Finance Company Limited, 'Dare House', No.2, N.S.C.Bose Road, Parrys, Chennai - 600 001.

Represented by its Authorised Signatory ...

Applicant versus Mubarak Khan, S/o.Ajmer Khan ...

Respondent Prayer: Application filed under Order XIV Rule 8 of Original Side Rules read with Section 9(ii)(b) the Arbitration and Conciliation Act, 1996, to direct the respondent to furnish security for the sum of Rs.14,66,488.47 within a time fixed by this Court, failing which to order attachment of the immovable properties morefully described in the Schedule to the Judges summons pending initiation and disposal of arbitration proceedings between the applicant and the respondent and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order be transmitted through the learned District and Sessions Judge, Bargarh, Orissa and the attachment order may be hand delivered to the applicant for transmission. For Applicant : Mr.D.Pradeep Kumar For Respondent : No Appearance 1/4

O R D E R

This application has been filed to direct the respondent to furnish security for the sum of Rs.14,66,488.47 within a time fixed by this Court, failing which to order attachment of the immovable properties morefully described in the Schedule to the Judges Summons pending initiation and disposal of arbitration proceedings between the applicant and the respondent and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order be transmitted through the learned District and Sessions Judge, Bargarh, Orissa and the attachment order may be hand delivered to the applicant for transmission.

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 2/4

Order of attachment to the concerned Registrar.

4. With the above observations, this application stands closed. 21.09.2020 sri 3/4

N.SATHISH KUMAR, J.

sri Application No.6032 of 2019 21.09.2020 4/4