AJAY AGARWAL Vs. NAGARJUNA FINANCE LIMITED

JUDGEMENT

(1.) This Civil Revision Petition is directed against the order dated 6-9-2000 in I.A. No. 1837 of 2000 in O.P.No. 1590 of 2000 on the file of the Court of the III Additional Chief Judge, City Civil Court, Hyderabad.

(2.) The Revision Petitioners who are the respondents in O.P.No. 1590 of 2000 as well as in I.A.No. 1837 of 2000 are assailing the order of the Court below made under Order 38 Rule 5 of CPC directing conditional attachment of their immovable properties.

(3.) The brief facts of the case are asfollows: O.P.No. 1590 of 2000 has been filed by the respondent herein under Section 9(2) of the Arbitration and Conciliation Act, 1996 against the Revision Petitioners seeking a direction to them to furnish security for a sum of Rs. 1,49,95,193.50 Ps. failing which to attach the schedule mentioned properties pending disposal of the arbitration proceedings to be initiated. Along with O.P.No. 1590 of 2000, I.A.No. 1837 of 2000 has been filed under Order 38 Rule 5 of CPC seeking attachment of the schedule mentioned properties belonging to the Revision Petitioners.