Madras High Court
M/S.Cholamandalam Investment And vs Mr.Ramachandra Ganpat Kadam on 24 July, 2020
Author: N. Sathish Kumar
Bench: N.Sathish Kumar
Application No.8813 of 2019
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 24.07.2020
CORAM:
THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR
Application No. 8813 of 2019
M/s.Cholamandalam Investment and
Finance Company Limited,
'Dare House', No.2, N.S.C.Bose Road,
Parrys, Chennai-600 001
rep. By its Authorised Signatory ... Applicant
Vs.
Mr.Ramachandra Ganpat Kadam,
S/o. Ganpat Kadam,
A/P-78, Shendechinch, TQ-Malshiras,
Solapur, Maharashtra-413 101. ... Respondent
PRAYER: Application filed under Order XIV Rule 8 of O.S.Rules r/w
Sec.9(ii)(b) of the Arbitration and Conciliation Act, 1996, praying to direct
the respondent to furnish security for the sum of Rs.1,18,392/- within a time
fixed by this Hon'ble 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
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Application No.8813 of 2019
the applicant and the respondent and till enforcement of the award that may
be ultimately passed in the arbitration proceedings and a copy of attachment
order be transmitted through the Sub Court, Malshiras Tal – Malshiras, Dist-
Solapur, Maharashtra and the attachment order may be hand delivered to the
applicant for transmission.
For Applicant : Mr.D.Pradeep Kumar
For Respondent : No appearance
ORDER
This application has been filed to direct the respondent to furnish security to the tune of Rs.1,18,392/-, 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 Sub-Court, Malshiras Taluk, Malshiras District, Solapur, Maharashtra and the attachment order may be hand delivered to the applicant for transmission. Page http://www.judis.nic.in 2/4 Application No.8813 of 2019
2. This Court by an Order, dated 20.03.2020, 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 interim Order 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. Registry is directed to intimate the Order of attachment to the concerned Registrar.
4. With the above observations, this application is closed.
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