Madras High Court
M/S.Cholamandalam Investment And vs Mr.Subash Chandra Sahu on 31 July, 2020
Author: N.Sathish Kumar
Bench: N.Sathish Kumar
A.No.8177 of 2019
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 31.07.2020
CORAM
THE HON'BLE MR.JUSTICE N.SATHISH KUMAR
Application No.8177 of 2019
M/s.Cholamandalam Investment and
Finance Company Limited
rep. By its Authorised Signatory
Date House, No.2 NSC Bose Road
Parrys, Chennai 600 001. ... Applicant
Vs
Mr.Subash Chandra Sahu ... Respondent
PRAYER : Application filed under Order XIV Rule 8 of Original Side
Rules r/w Section 9(ii)(b) of the Arbitration and Conciliation Act, 1996
to furnish security for the sum of Rs.5,85,855/- within a time fixed by
this Hon'ble Court, failing which to order attachment of the immovable
property morefully described in the schedule to the Judges Summons
pending initiation and disposal of the 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 District and Session
Judge, Bargarh, Orissa and the attachment order may be hand delivered
to the applicant for transmission.
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http://www.judis.nic.in
A.No.8177 of 2019
For Applicant : Mr.D.Pradeep Kumar
ORDER
This application has been filed to direct the respondent to furnish security to the tune of Rs.5,85,855/-, 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 District and Session Judge, Bargarh, Orissa and the attachment order may be hand delivered to the applicant for transmission.
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. 2/4 http://www.judis.nic.in A.No.8177 of 2019
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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