Cholamandalam Investment v. M/S.Sugesan Transporty P L
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) WEDNESDAY, THE 18TH DAY OF JULY 2018 THE HON'BLE MRS. JUSTICE PUSHPA SATHYANARAYANA A. No.6434 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 M/s. Sugesan Transport Private Limited arising under Loan Agreement No.X0CECHN00001464366 Dated 31.07.2015 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 -vsMr.Sugesan Transport Private Limited, No.7,2nd Canal Cross Road Gandhi Nagar, Adyar, Chennai Tamil Nadu 600 020 ...Respondent Application praying that this Hon'ble Court be pleased to appoint employee of the Applicant viz., Mr.
Gopal Area Legal Manager as receiver to seize and take possession of the Construction Equipment which is morefully described in the schedule to the Judges summons which is lying in the custody of respondent or its men, agents, servants from its premises or wherever found with Police aid and break open of premises if necessary.
This Application coming on this day before this court https://hcservices.ecourts.gov.in/hcservices/ for hearing the court made the following order:
By order dated 09.07.2018, this Court had directed the respondent to surrender the vehicle, namely, Tadano Crane TL360FT-40 Ton, bearing Engine No.AN191879 and Chasis No.2179 and registered as TN-07-AQ-8485 to the applicant on or before 18.07.2018.
2. It is stated by the learned counsel for the applicant that moving the vehicle from the address given by the respondent is very expensive and seeks permission to sell the vehicle by the applicant on "As is where is" condition.
3. Mr.Nithyaesh Natraj, learned counsel appearing for the respondent also has got no objection, as he is only interested in getting the best price for the vehicle in discharge of the loan. Considering the above, the applicant is permitted to sell the vehicle, namely, Tadano Crane TL360FT-40 Ton, bearing Engine No.AN191879 and Chasis No.2179 and registered as TN-07-AQ-8485 in "As is where is" condition from the address given by the respondent.
4. Hence, nothing further survives in this application and the same stands closed.
Sd/-P.S.N.J 18.07.2018 //Certified to be a true copy// Dated this the day of 2018. KY/30.08.2018 COURT OFFICER From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.
https://hcservices.ecourts.gov.in/hcservices/