1 Plaintiff-company has filed the present suit claiming the following relief:

“[A] That this Hon’ble Court be pleased to, during the pendency of arbitration proceeding pending at London, to arrest and detention of M.V. BASIL with her hull, engines, gears, tackles, bunkers, machinery, apparel, plant, furnitures, fixtures, appurtenances and paraphernalia, at present lying at harbor at Alang Anchorage, Bhavnagar, in order to secure, the plaintiff claim as per the particulars of claim at Annexure-A.

[B] That the defendant No.1 Vessel M.V. BASIL together with her hull, engines, gears, tackles, bunkers, machinery, apparel, plant, furnitures, fixtures, appurtenances and paraphernalia, at present lying at harbor at Alang Anchorage, Bhavnagar, be arrested by warrant of arrest of this Honourable Court and the same be condemned in respect of the claim herein and be ordered to be sold along with her hull, engines, gears, tackles, bunkers, machinery, apparel, plant, furnitures, fixtures, appurtenances and paraphernalia, at present lying at harbor at Alang Anchorage, Bhavnagar, and the net sale proceeds thereof be ordered to be applied to the satisfaction of the plaintiff’s claim herein and the cost of this suit.

[C] That pending hearing and final disposal of the suit, this Honourable Court be pleased to order and direct arrest of M.V. BASIL with her hull, engines, gears, tackles, bunkers, machinery, apparel, plant, furnitures, fixtures, appurtenances and paraphernalia, at present lying at harbor at Alang Anchorage, Bhavnagar, or wherever she is within the territorial waters of India.

[D] For interim and ad-interim orders in terms of prayers (B) and (C)' The present suit is valued at Rs.55,79,53,650/- [US $ 12,398,970].

2. Initially, an oral order dated 1st November 2010 was passed by the learned Single Judge [Hon’ble Mr. Justice Bankim N. Mehta] directing the Port Officer and the Custom Authorities at Bhavnagar to arrest the vessel M.V. BASIL at present lying at Alang Anchorage at Bhavnagar within the territorial waters of India and to keep the vessel under arrest under further orders of this Court. The above order was passed upon the condition that the plaintiff should file an undertaking in writing and an affidavit to the Registrar of this Court to pay such sums by way of damages as this Court may award as compensation in the event of the defendants and/or any party sustaining prejudice by this Court and on further condition that the plaintiff shall deposit Rs.25 lakhs on or before 15.11.2010 in the Registry. At the same time, the defendants were granted liberty to approach this Court in case of any difficulty. It is further ordered that, in the event of the defendants and/or those interested in her depositing in this Court a sum of Rs.55 crore or equivalent U.S. Dollars with interest thereon @ 18% per annum from the date of institution of the suit till payment/realization towards the satisfaction of the plaintiff’s claim in the suit and/or furnishing security to the satisfaction of the Registrar of this Court in the said sum of Rs.55 crore or equivalent U.S. Dollars with interest thereon @ 18% per annum from the date of institution of the suit till payment/realization, the said warrant of arrest shall not be executed against the defendant vessel M.V. BASIL.

3. From the proceedings of the suit, it appears that the matter was heard during Diwali vacation for about two hours but, due to paucity of time, the matter was adjourned and, on 23rd November 2010, an oral order came to be passed by the learned Single Judge that considering the fact that the matter is highly contested and is likely to occupy substantial time and the learned Single Judge was not available after 1st December 2010, liberty was given to the parties to mention the matter before the Hon’ble Chief Justice. Upon filing a note by the learned counsel for the defendants and the submission made by the Registry, the Hon’ble Chief Justice directed the Registry to list th