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Madras High CourtA/1281/2021closed

M/S Tvs Credit Services Limited v. M/S.Yuvaraj S And Another

2021-10-21Honourable Mr Justice N. Sathish Kumar3 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) THURSDAY, THE 21ST DAY OF OCTOBER 2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR A.No.1281 of 2021 In the matter of Arbitration & Conciliation Act, 1996 and In the matter of Disputes between M/s.TVS Credit Services Limited and Mr.Yuvaraj S & another Arising under Loan Cum Hypothecation Agreement Dated 28.05.2019 bearing Agreement No. TN3002UV0000220.

M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai - 600 006.

Represented by its Authorised Signatory ... Applicant

Versus

1.Mr. Yuvaraj S, S/o.Selvaraj, Old No.28/9, New No.29, Gandhiji 2nd Street, Kakkanji Nagar, Vysarpadi, Chennai Nr.B.B.Road, Tamil Nadu - 600 039.

2. Mrs. Vijayalakshmi S, W/o.Selvaraj, Old No.28/9, New No.29, Gandhiji 2nd Street,

Kakkanji Nagar, Vysarpadi, Chennai, Nr.B.B.Road, Tamil Nadu - 600 039.

Respondents Application praying that this Hon'ble Court be pleased to direct the Respondents to furnish security for the sum of Rs.6,24,502/- within a time fixed by this Hon'ble Court failing which to order attachment of the immovable properties morefully described in the Schedule to the Judges Summons pending initiation and disposal of arbitration proceedings between the Applicant and the Respondents and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order be transmitted through the Munsif Court, Arcot and the attachment order may be hand delivered to the applicant for transmission.

This Application coming on this day before this court for hearing the court made the following order:

This Arbitration Application has been filed to direct the respondents to furnish security for the sum of Rs.6,24,502/- within a time fixed by this Honble Court failing which to order attachment of the immovable properties morefully described in the schedule to the Judges Summons pending initiation and disposal of arbitration proceedings between the Applicant and the Respondents and till enforcement of the award that may be ultimately

passed in the arbitration proceedings and a copy of the attachment order be transmitted through the Munsif Court, Arcot and the attachment order may be hand delivered to the applicant for transmission.

2. Heard Mr.D.Pradeep Kumar, learned counsel for the applicant. There is no representation on behalf of the respondents.

3. Today, when the matter was taken up for hearing, it is submitted by the learned counsel appearing for the applicant that award has already been passed in this matter.

4. In such a view of the matter, this Court is not inclined to pass any order in this application and the applicant is directed to work out his remedy to execute the award.

5. Accordingly, this application is closed.

Sd/.N.S.K.J.

21.10.2021 //Certified to be a true copy// Dated this the th day of 2021. SU/26.10.2021 COURT OFFICER(O.S.) From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.