( 1 ) THIS suit has been presented by the plaintiff seeking arrest of defendant No. 1-Vessel i. e. M. V. "san FRANSCECO DI PAOLA" in the following circumstances :

( 2 ) THE case of the plaintiff is that the plaintiff, a Limited Company, incorporated under the laws of United Kingdom and having its address as stated in the cause title, is the owner of defendant No. 1-Vessel. It is stated that the said vessel was purchased by the plaintiff from one Audrey Ventures Company on 27. 6. 2000. That thereafter the plaintiff entered into a Memorandum of Agreement dated 01. 07. 2003 with defendant No. 2 for sale of vessel for a consideration of US$ 4,00,000 and defendant No. 2 paid 10% of the said consideration. The expected time of delivery of the vessel was 07. 07. 2003. However, according to the plaintiff, as defendant No. 2 had not paid the entire balance consideration, no delivery was given by the plaintiff. It is further averred that defendant No. 1 - vessel was laid up at the port/harbour of Oostende Port, Belgium since 27. 06. 2000 and hence, there was no crew on board. The case of the plaintiff is that defendant No. 2 clandestinely removed the vessel from the closed basi