GANESH BENZOPLAST LTD Vs. SUNDARAM FINANCE LTD

JUDGEMENT

(1.) THE appeal has been filed by the appellants against the order of the learned Judge dated 1.3.2002 in Application No.334 of 2002, directing the garnishee, the second respondent herein, to retain a sum of Rs. 1,18,31,000/-until further direction.

(2.) THE admitted facts are:-

(3.) THE question for consideration is whether the application seeking the prohibitory order under the Arbitration Act, 1996, restraining the garnishee from making any payment, should contain the averments as contemplated under Order 38, Rule 5, C.P.C.