M/S Gympac Fitness Systems Pvt Ltd., v. Axis Bank Limited

A.No.179 of 2024 in C.S.No.4 of 2024 N.SATHISH KUMAR. J, This application has been filed to direct the respondent to deposit a sum of Rs.10,00,00,000/- or in the alternative, furnish security of an equivalent value before this Court.

2. Since the suit itself has been filed challenging the Order of the NCLT, the application filed at this stage to furnish security does not arise at all.

Unless fraud is established in the suit, the applicant cannot seeks a direction to furnish security.

3. Accordingly, this application is closed.

11.01.2024 vrc https://www.mhc.tn.gov.in/judis