M/S.Mercedes-Benz Financial Services India Pvt. Ltd. v. Nnr Dream Scape Infra And 2 Others

C.SARAVANAN, J.

The learned counsel for the applicant confirms that the vehicle was seized and the arbitral proceedings have also been initiated.

2. The learned Advocate Commissioner has also filed a report dated 19.02.2024 indicating seizure of the vehicle. Same is taken on record. The learned Advocate Commissioner has also filed a memo and sought for an Additional Remuneration.

3. Considering the time taken for executing the warrant and recording the request, the applicant is directed to pay an Additional Remuneration of Rs.40,000/- to the learned Advocate Commissioner within a period of one week from today.

4. The applicant is directed to commence the arbitral proceeding within 90 days of this order. It is made clear that the seized vehicle shall not be sold or alienated or transfered to a third party without leave of the Arbitral Tribunal under Section 17 of the Arbitration and Conciliation Act, 1996. Since the purpose for which the application filed has been achieved, this application is closed with the above direction and liberty.

5. Accordingly, this Arbitration Application stands closed. 19.02.2024 jas C.SARAVANAN, J.

jas 19.02.2024