Madras High CourtArb Appln/81/2022ordered

R.Natarajan And Another v. Cholamandalam Investment And Finance Company Limited

2022-04-11Honourable Mr Justice M. Sundar10 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY, THE 11th DAY OF APRIL 2022 THE HON'BLE MR. JUSTICE M.SUNDAR Arb.Appln.No.81 of 2022 in A. No.5133 of 2015 In the matter of Arbitration & Conciliation Act, 1996 and In the matter of disputes between M/s.Cholamandalam Investment and Finance Company Ltd., and Mr.Natarajan R. & another arising under Loan Agreement No.XTRAKBF00000907045 dated 15.02.2013.

M/s.Cholamandalam Investment and Finance Company Limited, 'Dare House', No.2, N.S.C.Bose Road, Parrys, Chennai-600 001.

rep. by its Authorised Signatory ... Applicant -Versus1. Mr.Natarajan R.

S/o.Ramadass,

2. Mr.Ramadoss R.

S/o.Rajamanickam, Both are residing at Old No.3/97, New No.3/126, Thenalakudi, Manalmedu, Karaimedu, Sirkazhi, Nagapattinam, Tamil Nadu-609 109.

... Respondents

Arb.Appln.No.81 of 2022

1. Mr.Natarajan R.

S/o.Ramadass,

2. Mr.Ramadoss R.

S/o.Rajamanickam, Both are residing at Old No.3/97, New No.3/126, Thenalakudi, Manalmedu, Karaimedu, Sirkazhi, Nagapattinam, Tamil Nadu-609 109.

...Applicants -vsM/s.Cholamandalam Investment and Finance Company Limited, 'Dare House', No.2, N.S.C.Bose Road, Parrys, Chennai-600 001.

rep. by its Authorised Signatory

...Respondent

Application praying that this Hon'ble Court be pleased to raise the order attachment dated 06.06.2016 passed in A.No.5133 of 2015. This Application coming on this day before this Court for hearing in the presence of Ms.D.Anitha for M/s.R.Iyappan, advocates for the applicant herein and the respondent herein not appearing in person or by advocate and upon reading the Judges Summons and the affidavit of R.Nataraja filed herein and the order dated 06.06.2016 made in A.No.5133 of 2015, It is ordered as follows:- That the order of attachment granted in pursuance of the order dated 06.06.2016 made in A.No.5133 of 2015 attaching the immovable property morefully setout in the schedule hereunder, be and is hereby raised.

SCHEDULE PROPERTY Item No.1 Land situated in Karaimedu Village bearing Nanjai Survey No.202/2 measuring Acre 0.96 Cents equivalent 0.39.0 Ares fully. Within the SRO Sirkazhi.

Item No.2 Land situated in Karaimedu Village bearing Nanjai Survey No.203/3B measuring Acre 0.45 Cents equivalent 0.18.0 Ares fully. Within the SRO Sirkazhi.

Item No.3 Land situated in Karaimedu Village bearing Nanjai Survey No.244/3 measuring Acre 0.07 Cents equivalent 0.03.0 Ares fully. Within the SRO Sirkazhi.

Item No.4 Land situated in Karaimedu Village bearing Nanjai Survey No.202/3 measuring Acre 0.81 Cents equivalent 0.33.0 Ares. Within the SRO Sirkazhi.

WITNESS THE HON'BLE MR.JUSTICE MUNISHWAR NATH BHANDARI CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 11th DAY OF APRIL 2022.

Sd./- ASSISTANT REGISTRAR(Comm.Cases) //Certified to be true copy// Dated at Madras this the day of 2022. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

KY 28.04.2022 Arb.Appln.No.81 of 2022 in A. No.5133 of 2015

ORDER

DATED: 11.04.2022 THE HON'BLE MR. JUSTICE M.SUNDAR FOR APPROVAL:29.4.2022 APPROVED ON: 04.05.2022 Copy to:

1. The Sub Registrar, The Sub Registrar Office, Sirkazhi.

2. The District Court, Nagapattinam.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

M/s.Cholamandalam Investment and Finance Company Limited, 'Dare House', No.2, N.S.C.Bose Road, Parrys, Chennai-600 001.

rep. by its Authorised Signatory ... Applicant -Versus1. Mr.Natarajan R.

S/o.Ramadass,

2. Mr.Ramadoss R.

S/o.Rajamanickam, Both are residing at Old No.3/97, New No.3/126, Thenalakudi, Manalmedu, Karaimedu, Sirkazhi, Nagapattinam, Tamil Nadu-609 109.

... Respondents

Arb.Appln.No.81 of 2022

1. Mr.Natarajan R.

S/o.Ramadass,

2. Mr.Ramadoss R.

S/o.Rajamanickam, Both are residing at Old No.3/97, New No.3/126, Thenalakudi, Manalmedu, Karaimedu, Sirkazhi, Nagapattinam, Tamil Nadu-609 109.

...Applicants -vsM/s.Cholamandalam Investment and Finance Company Limited, 'Dare House', No.2, N.S.C.Bose Road, Parrys, Chennai-600 001.

rep. by its Authorised Signatory

...Respondent

Application praying that this Hon'ble Court be pleased to raise the order attachment dated 06.06.2016 passed in A.No.5133 of 2015. This Application coming on this day before this Court for hearing the Court made the following order:- Captioned application has been taken out with a prayer to raise the order of attachment dated 06.06.2016 made in A.No.5133 of 2015 by this Court vide four items of immovable properties, all situated within the territorial jurisdiction of Sub Registrar's Office (SRO), Sirkazhi. 2.Ms.D.Anitha, learned counsel representing Mr.R.Iyappan, learned counsel on record for applicants in the captioned application who is

before this Court, adverting to support affidavit submits that the matter has been settled, the applicants have paid out the entire loan amount and therefore they are entitled to have the order of attachment raised. To be noted, when the captioned application was listed before this Court on 21.03.2022, the following proceedings were made. 'Notice to respondent returnable in three weeks i.e., returnable by 11.04.2022. Private notice permitted. 2.List on 11.04.2022.'

3.Pursuant to the aforementioned proceedings, notice has been duly served on the lone respondent and Affidavit of Service has been filed vide Diary No.10517, dated 05.04.2022. The name of the lone respondent is shown in the cause list but none appeared. This is rather unfortunate. This Court is constrained to make this observation as the respondent which this Court is informed is a Non-Banking Financial Company (NBFC) having got the immovable properties of the applicants attached by approaching this Court have a duty to come before this Court and set out their stated position when the loanee/borrower seeks raising of attachment, particularly on the ground that the entire loan amount has since been settled. 4.Be that as it may, the positive averment/assertion of the applicants that the entire loan amount has since been settled has not been

disputed.

5.Learned counsel for the applicants submit that the entire loan amount has since been settled way back in the year 2018 and in support of this submission learned counsel draws the attention of this Court to a letter dated 31.05.2018 from the respondent a scanned reproduction of which is as follows:

6.In the light of the above, the prayer of the applicants cannot but be answered in the affirmative.

7.For the sake of specificity, it is made clear that the order of

attachment dated 06.06.2016 made by this Court in A.No.5133 of 2015 now stands raised.

8.For further specificity, it is made clear that this order is akin to an order under Order 38 Rule 9 of The Code of Civil Procedure, 1908 [CPC] and therefore, on presentation of this order, the jurisdictional SRO shall ensure that necessary entries/deletions are made in all the registers and reflected in the encumbrance certificate.

9.A copy of this order shall also be communicated to the jurisdictional Civil Court. Registry shall communicate a copy of this order to the jurisdictional SRO also forthwith.

10.Captioned application is ordered on above terms. No costs. Sd./- M.S.J., 11.04.2022 //Certified to be true copy// Dated at Madras this the day of 2022. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.