M/S.Cholamandalam Investment And Finance Co Ltd v. M/S.Prospect Engineering And Another

Arb Appln NO. 265 of 2024

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 03-06-2025

CORAM

THE HONOURABLE MR JUSTICE P.B. BALAJI Arb Appln No. 265 of 2024 in A.No.9519 of 2019 M/s.Cholamandalam Investment And Finance Co Ltd Dare House, No.2, N.S.C.Bose Road, Parrys, Chennai 600 001., Represented by its Authorised Signatory.No. 45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys Appellant(s) Vs M/s.Prospect Engineering and another Prop.Mr.Avinash Chandrakant Virkar, A-102, KJS Kamalaya Vile Parle, NR Maddrasi Ram Mandir, Mumbai, Maharashtra 400 057.No. 45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys and another Respondent(s) For Appellant(s):

Mr.D.Pradeep Kumar

ORDER

Today, the matter has been taken up under the caption " For Being Mentioned".

2. Heard Mr.D.Pradeep Kumar, learned counsel for the applicant.

3. A mention was made seeking to modify the order dated 03.12.2024, on the ground that the amount which was the subject matter of the payment out application viz., Rs.1,78,177/- had gone up by way of accrued interest. Learned counsel fairly submits that a deduction towards audit fee is also required. https://www.mhc.tn.gov.in/judis

P.B.BALAJI.,J.

sr Hence, he seeks for suitable clarification to be made in the order dated 03.12.2024.

4. I find some force in the submission of the learned counsel for the applicant.

5. The Order dated 03.12.2024 is modified by allowing the application directing the payment out of a sum of Rs.1,78,177/-, together with accrued interest and less applicable audit fee.

6. The order dated 03.12.2024 is modified to the above extent. 03-06-2025 To

1. M/s.Prospect Engineering and another Prop.Mr.Avinash Chandrakant Virkar, A-102, KJS Kamalaya Vile Parle, NR Maddrasi Ram Mandir, Mumbai, Maharashtra 400 057.No. 45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys

2. Vrushali Avinash Virkar A - 102, KJS Kamalaya, Vile Parle, NR - Maddrasi Ram Mandir, Mumbai Arb Appln No. 265 of 2024 in A.No.9519 of 2019 https://www.mhc.tn.gov.in/judis