1. By way of the present application, the applicant – original defendant M.V. GLOBAL DIAMOND (IMO No.9145774) has prayed to release the applicant Vessel which came to be arrested pursuant to an order dated 22.1.2019 passed by this Court in the above mentioned suit mainly on the ground that M.V. GLOBAL DIAMOND, owned by Grand Pacifica Navigation Corporation (hereinafter referred to as ‘GPNC’), is nowhere connected with the World Way Marine Transportation and Logistics Company Limited (hereinafter referred to as ‘WWMT&LCL’) and Mr. Chou Ching-Hui who have given performance guarantee to the original plaintiff for two Vessels, namely, M.V. GLOBAL DREAM and M.V. GLOBAL DIAMOND (applicant herein).

2. The applicant has also sought the above relief on the ground of material suppression of important facts at the time of filing of the suit by not disclosing that the plaintiff has already entered into Charter Party Agreement dated 13.2.2018 with the principal debtor i.e. Ray Group Lines Company Limited (the Charterers) by which the principal debtor has already provided security for the claim by way of cash deposit in the sum of USD 318,000.00 (US Dollar Three Hundred Eighteen Thousand)