C.J.CHARLES RAJKUMAR Vs. RAHAMATHUNNISA

JUDGEMENT

(1.) This is an application under Sec. 9 of the Arbitration and Conciliation Act, 1996 (hereinafter 'the Act') seeking an order of ad- interim injunction restraining the respondents from alienating the property which forms the subject matter of the execution petition in EP 31 of 2023 on the file of the Principal District Judge at Chengalpet.

(2.) Heard both.

(3.) The applicant is the decree-holder. The applicant had initiated arbitration proceedings against the respondents which culminated into an arbitral award dtd. 26/5/2022 awarding a sum of Rs.10,04,25,376.00 together with interest at the rate of 18 % per annum. The award has remained unchallenged and has become final. The applicant levied execution proceedings under Sec. 36 of the Act in E.P 31 of 2023 before the District Court, Chengalpet. In the execution application, the applicant invoked Order XXI Rules 54 & 66 and sought attachment and sale of the property of the respondent/judgment debtors. During the pendency of the EP, the instant petition has been filed under Sec. 9 of the Act seeking an order of ad-interim injunction restraining the judgment debtors from alienating or encumbering the properties which form the subject matter of the EP before the executing court.