Raman, J.

The respondent herein filed O.P.(Arb) No.48 of 2009 before the District Court, Allappuzha, for an interim order of attachment of the properties scheduled to the petition. There is a contract between the parties for construction of a Star Hotel, and towards the same, an amount of Rs.51 lakhs is said to have been paid by the respondent herein to the appellant. It is the contention of the respondent that the appellant did not perform his part of the contract. Therefore, he proceeded to initiate arbitration proceedings for realisation of the said amount of Rs.51 lakhs from the appellant, and alleging that hasty steps are taken by the appellant to alienate the property and to secure the claim, the respondent sought for an interim order of attachment and approached the District Court. Along with the main Original petition, I.A.No.634 of 2009, was also filed for ad-interim attachment. The court below ordered interim attachment of the petition scheduled properties. Thereafter, the appellant filed objection stating that the amount received by him has already been spent for construction and also denying other averments made in the petition. It was also stated that he had