1. The notice of motion is taken out on behalf of defendant Nos.1 and 2 for return of security of Rs.65,71,141/- to the applicant together with interest accumulated thereon.

2. The applicant is seeking return of security on the basis that the suit was filed and security obtained for the plaintiff's claim in arbitration. It is the applicant's case that the defendant no.1 vessel and the vessel M.V. Eastern Light for which the plaintiff allegedly provided management services are not sister vessels and hence the first defendant vessel cannot be arrested. It is submitted that both these vessels are owned by different entities which are unconnected and assuming for the sake of argument both are part of the same group and have common beneficial ownership, still at best they could be considered as vessels owned by sister companies and not sister ships and for the Court to conclude that these are sister ships, the Court has to pierce the corporate veil. It is submitted that the plaintiff has not made out any case to pierce corporate veil.

3. Further the plaintiff has no cause of action against the defendant no.1 vessel and/or the applicant who is defendant no.2 as there is no arbitra