Madras High CourtA/3877/2017closed

M/S.Cholamandalam Investment v. Mr.Harishchandra Raghunath

2017-09-01Honourable Dr Justice Anita Sumanth2 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) FRIDAY, THE 01ST DAY OF SEPTEMBER 2017 THE HON'BLE DR. JUSTICE ANITA SUMANTH A. No.3877 of 2017 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.Harishchandra Raghunath Thorve, Arising under Loan Agreement No.

XSHUPEN00001510901 Dated 19.10.2015.

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

Represented by its Authorised Signatory : Applicant Vs.

Mr.Harishchandra Raghunath Thorve, S/o.Raghunath Vitthal Thorve, At Vakrul, Post Kamarli, Tal Pen, Raigad, Near Hanuman Temple, Maharashtra 402107.

: Respondent Application praying that this Hon'ble Court be pleased to appoint employee of the Applicant viz. Mr.YOGESH SONAWANE, Junior Legal Manager, as Receiver to seize and take possession of the vehicle, which is more fully described in the schedule to the Judges Summons which is lying in the custody of respondent or his men, agents, servants from his premises or wherever found with Police aid and break open of premises if necessary.

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

By order, dated 21.07.2017, this Court appointed Mr.Yogesh Sonawane, Junior Legal Manager of the applicant company, as a Receiver, to seize and possess the vehicle in question.

2. Pursuant to the warrant of commission issued by this Court to seize the vehicle, it is today represented by the learned counsel appearing for the applicant that the subject asset has been seized and handed over to the applicant company by the Receiver. He would also point out that arbitration proceedings have been initiated and are pending. The said statement is recorded.

3. Though the respondent has been served and his name appears in the cause list, none appears on his behalf.

4. In the above circumstances, nothing further survives in this application and the same stands closed. However, the vehicle shall not be alienated/altered/encumbered by the applicant during the pendency of the proceedings for arbitration without obtaining suitable directions in this regard from the Arbitrator. Needless to say, as and when an award is passed, the parties shall be at liberty to proceed as per law.

Sd/-A.S.M.j 01.09.2017 //Certified to be a true copy// Dated this the th day of 2017. EM/11.09.2017 COURT OFFICER From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.