M/S.Mercedes Benz Financial Services India Pvt Ltd., v. Guru Films Private Limited,

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 17.02.2025

CORAM

THE HON'BLE MR. JUSTICE ABDUL QUDDHOSE M/s.Mercedes - Benz Financial Services India Pvt. Ltd.

... Petitioner Vs.

1. Guru Films Pvt. Ltd.

2. Sunitha Tati

3. Yuvaraj Karthikeyan ... Respondents PRAYER: Petition filed under Section 11 of the Arbitration and Conciliation Act, 1996 to appoint a sole arbitrator to adjudicate the dispute between the petitioners and the respondent under the loan cum hypothecation agreement dated 25.05.2023 bearing Contract No.10156020 and to direct the respondent to pay the cost. For Petitioner :

Mr. M. Arunachalam

ORDER

Learned counsel for the petitioner on instructions would submit that subsequent to the filing of this petition, the respondents have regularized the loan contract with the petitioner. In view of the same, he seeks permission of this Court to withdraw this petition. However, he seeks liberty for the petitioner in case the respondent commits default in the repayment of the 1/3

loan pursuant to the regularization.

2/3

ABDUL QUDDHOSE. J., ab

2. Accordingly, this petition is dismissed as withdrawn. However, liberty is granted to the petitioner to file a fresh petition in case the respondents commit default in the repayment of loan as per the regularization.

17.02.2025 Index : Yes/No Speaking Order : Yes / No ab 3/3