The court received an applicant's request to direct respondents to provide security for arbitration proceedings or face property attachment. It closed the application, granting liberty to the applicant to approach the Arbitral Tribunal instead.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION)
MONDAY, THE 07TH DAY OF DECEMBER 2020
THE HON'BLE MS. JUSTICE P.T.ASHA
A. No.1378 of 2020
In the matter of Arbitration and Conciliation Act, 1996, and In the matter of Disputes between M/S.CHOLAMANDALAM INVESTMENT AND FINANCE CO.,LTD., and
MR.AMBRISH VINODKUMAR JOSHI and arising under Loan Agreement No.XSHUNAH00002911138 dated 11.04.2019
M/S.CHOLAMANDALAM INVESTMENT AND FINANCE CO.,LTD., Dare House,No.2, N.S.C.Bose Road, Parrys, Chennai-600001. Represented by its Authorised Signatory ..Applicant
-Vs-
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Application praying that this Hon'ble Court be pleased to direct the Respondents to furnish security for the sum of Rs.4,24,698.87/- 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 the Applicant and the Respondents 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 Court, Bhuj, Gujarat and the attachment order may be hand delivered to the applicant for transmission.
This Application coming on this day before this court for hearing the court made the following order:
Considering the fact that the Arbitration proceedings have been
initiated and pending in the matter, the application is closed giving liberty to
the applicant to approach the Arbitral Tribunal.
Sd/.P.T.A.J. 07.12.2020
//Certified to be a true copy// Dated this the th day of 2020.
Su.30.12.2020 COURT OFFICER(O.S.) https://hcservices.ecourts.gov.in/hcservices/ From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.
M/S.CHOLAMANDALAM INVESTMENT AND FINANCE CO.,LTD.
MR.AMBRISH VINODKUMAR JOSHI
MRS.JAYSHRIBEN VINODKUMAR JOSHI
P.T.Asha
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
