Mareva Injunction: Designed to Protect Property

Disputes between human and litigation adversely affect the utilization and benefits from the property. A property when attached during pendency of a suit or arrested in an action in rem, suffers irreparable losses. Such losses may be due to its losing beneficial value, lacking in maintenance, failing to meet future obligations and commitments etc. Property may be abandoned by the owner in some circumstances adversely affecting the interests of third parties involved in business. Mareva injunctions, if not completely, at least to a considerable extent mitigate the effects and saves the property from perils in proper cases. It evolved from common law and equity in English law, developed with high acceleration and has been hailed in other jurisdictions worldwide. Its development continues and has been recognized by enactments in the civilized world. This article endeavors to introduce Mareva injunction in other jurisdictions to replace direct actions against property in order to protect property and interests ofthird parties in the property