IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH & THE HONOURABLE MR. JUSTICE M.L.JOSEPH FRANCIS THURSDAY, THE 21ST JULY 2011 / 30TH ASHADHA 1933 Arb.A.No. 36 of 2011() ----------------------------- APPELLANT (S): 2ND RESPNDENT: ------------------------------------------------- RAJAN BABU, MANAGER, HORIZON COURIERS PVT LTD, K.K.BUILDING, THUNDATHIL ROAD, PANAMPILLY NAGAR, ERNAKULAM ,KOCHI 682 036. BY ADV. SRI.P.B.SAHASRANAMAN SRI.T.S.HARIKUMAR SRI.K.JAGADEESH RESPONDENT(S): PETITIONER & IST RESPONDENT: ------------------------------------------------------------------------- 1. SHRIRAM TRANSPORT FINANCE COMPANY LTD NEAR KRISHNA NURSING HOME,CHITTOOR ROAD, KOCHI 682 011, REPRESENTED BY ITS POWER OF ATTORNEY HOLDER SIBY JOHN,S/O.JOHN, ANAMTHURUTHY HOUSE, PALLURUTHI. 2. PHILIP MATHEW, MANAGING DIRECTOR HORIZON COURIERS PVT LTD ,K.K.BUILDING, THUNDATHIL ROAD, PANAMPILLI NAGAR, ERNAKULAM KOCHI 682 036. R1 BY ADV. SRI.PHILIP T.VARGHESE THIS ARBITRATION APPEALS HAVING BEEN FINALLY HEARD ON 21/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.M.JOSEPH & M.L.JOSEPH FRANCIS, JJ. ----------------------------------------- Arb.Appeal No.36 of 2011 ----------------------------------------- Dated, this the 21st day of July, 2011 J U D G M E N T K.M.Joseph, J. Appellant has approached this Court feeling aggrieved by the order passed in Arbitration O.P.No.767/2007 by which the petition filed by the Ist respondent for attachment under Section 9 of the Arbitration and Conciliation Act was allowed. 2. We heard the learned counsel for the appellant and learned counsel for the Ist respondent. Though service is not complete on the 2nd respondent in view of the order we propose to pass we feel that the matter can be disposed of. 3. Learned counsel for the appellant would submit that the appellant is prepared to furnish security and the impugned order may be set aside. Learned counsel for the Ist respondent submits that an amount of Rs.3.5 lakhs would be due, and, if the appellant is prepared to furnish proper security for the same, there can be no objection in setting aside the impugned order. Learned counsel for the appellant would submit that the appellant will furnish Bank guarantee for one year from 19.3.2011 in a sum of Arb.Appeal No.36/2011 -2- Rs.3.5 lakhs in favour of the Ist respondent. In such circumstances, we allow the appeal and we direct that, upon the appellant furnishing Bank guarantee in a sum of Rs.3.5 lakhs in favour of the Ist respondent as aforesaid, the impugned order shall stand set aside and the order of lifting of attachment will be communicated to the concerned Sub Registrar by the Court. (K.M.JOSEPH) JUDGE. (M.L.JOSEPH FRANCIS) JUDGE. MS