M/S.Cholamandalam Investment v. Mr.Palanisamy S

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATE: 18/8/2020

CORAM

THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR Application No.1413 of 2018 Cholamandalam Investment and Finance Company Limited rep. By its Authorised Signatory Dare House, No.2 NSC Bose Road Parrys Chennai.

...

Applicant Vs

1. S. Palanisamy

2. S. Selvaraj

3. G. Bhuvaneshwari (Impleaded as per order dated 31/10/2019 in A.No.2312 of 2014)...

Respondents Prayer: Application filed under Order XIV Rule 8 of Original Side Rules r/w. Section 9 (ii) (b) of the Arbitration and Conciliation Act, 1996. For Applicant : Mr.N.Santhosh Nagarajan For respondents : No appearance for R.R.1 and 2 Mr.R.Prabakar for R.3.

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O R D E R

Instant application has been filed to direct the respondents to furnish security for a sum of Rs.4,62,630/-, failing which to order attachment of the immovable property described in the schedule to the Judges summons till enforcement of the award passed in the arbitration proceedings and a copy of the attachment order be transmitted through the Subordinate Court may be hand delivered to the applicant for transmission.

2. This Court, by an order, dated 13/7/2018, passed an order of attachment. Today, when the matter is taken up for hearing, through Video Conferencing, learned counsel appearing for the applicant submitted that third party has purchased the property much before the attachment passed. He has also filed an application to raise the order of attachment. But the same has not been numbered. However, the fact remains that the applicant counsel fairly submitted that they have no objection for raising the attachment.

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3. In such a view of the matter, order of this Court, dated 13/7/2018, for attaching the property is recalled. Registry is directed to communicate the order raising order of attachment to the concerned Registrar Office. 18/8/2020 mvs.

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N.SATHISH KUMAR, J mvs.

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