M/S Electronica Finance Ltd v. Valve Tech Industries

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 09.06.2025

CORAM

THE HONOURABLE Mr. JUSTICE ABDUL QUDDHOSE M/s.Electronica Finance Ltd.

Rep. by its Deputy Manager and Power Agent Karthik.E, Registered Office at Audumbar 101/1, De.Ketkar Road, Erandwane Pune, Maharashtra - 411004.

Having branch office at No.1167, T.V.S. Colony Anna Nagar, West Extension Chennai-600101.

... Applicant Vs.

1.Valve Tech Industries 9/4, 2nd Reddy Street Eddaduthangal Reddy Street Chengaianna Tamil Nadu - 600 032.

2. Kalaiselvi R

3. Rajesh ... Respondents PRAYER: Arbitration Application filed under Order XIV Rule 8 Original Side Rules read with Section 9(1)(ii)(a)&(d) of the Arbitration

and Conciliation Act, 1996, praying to pass an order of appointment of Advocate Commissioner to seize and deliver the Machineries more fully described in the schedule herein available at the respondent premises or wherever found and with whomsoever it is found and and entrust the custody of the same to the applicant, and permit the Advocate Commissioner to obtain police aid and to break open the premises. For Applicant : Mr.R.Dayan Shariff

O R D E R

The learned counsel for the applicant submits that the parties have arrived at an amicable settlement under which the respondent has regularized the loan contract with the applicant.

2. The learned counsel for the applicant also submits that in case the respondent commits default in the near future, the applicant may be granted with liberty to file a fresh application. He has also made an endorsement to that effect in the Court bundle.

3. Accordingly, this application is dismissed as not pressed.

However, liberty is granted to the applicant to file a fresh application against the respondent in case the respondent commits default in the near future. No costs.

09.06.2025 Index: Yes/ No Speaking order / Non speaking order Maya

ABDUL QUDDHOSE, J.

Maya Dated : 09.06.2025