Disposed
M/S L and T Finance Ltd., v. Rajalakshmi Paper Mills Pvt.Ltd.
Madras HCArb Appln/1/2021
Case brief
AI extract
What is this about?
An applicant sought security and property attachment pending arbitration against respondents. The court accepted an undertaking affidavit filed by the first respondent, directed the applicant to initiate arbitration within 90 days and prohibited alienation of property until proceedings conclude, ultimately closing the petition.
What did the court decide?
Directed applicant to initiate arbitration within 90 days; prohibited alienation of property until arbitral proceedings conclude.