Cholamandalam Investment And Finance Ltd v. Mr.Ramabalaji R S/O.Ramalingam

Application No.

of 201 PUSHPA SATHYANARAYANA , J.

This Court, upon hearing the learned counsel for the applicant, vide order dated 30.04.2019, directed the respondent to furnish security to the extent of the claim made in the application being an amount of Rs.5,35,031/-, on or before 10.06.2019, failing which, an order of attachment order would be passed.

2. When the matter was taken up for hearing today, learned counsel for the applicant would submit that no security has been furnished as directed by this Court.

3. The respondents availed of finance facilities pursuant to Loan Agreement No.XSHUDDL00002165521 dated 09.11.2017 for a sum of Rs.4,06,655/- towards purchase of a vehicle. On account of defaults in repayment, proceedings for arbitration have been initiated and are pending. As of 27.03.2019, a sum of Rs.5,35,031/- is stated to be outstanding.

4. Though notice has been served on the respondent and his name has been printed in the cause list, none appears on his behalf. http://www.judis.nic.in

PUSHPA SATHYANARAYANA , J.

rsi

5. In the above circumstances, there shall be an order of attachment as prayed for. The order of attachment shall be transmitted through the Subordinate Court, Paaraipatti and the same may be hand delivered to the applicant for transmission. Needless to mention, the order of attachment is subject to the result of the arbitration stated to be pending as between the parties.

6. In view of the above direction, nothing further survives for adjudication and this application stands closed. 20.09.2019 rsi Application No.3333 of 2019 http://www.judis.nic.in