Madras High CourtArb Appln/74/2021ordered

M/S. Cholamandalam Investment And Finance Co., Ltd., v. Mr.Murugan V And Another

2021-08-24Honourable Mr Justice V. Parthiban7 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) TUESDAY, THE 28th DAY OF SEPTEMBER 2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN Arb.Appln.No.74 of 2021 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.Murugan V. & another Arising under Loan Agreement No.XSHUDPI00002503657 Dated 30.07.2018.

M/s.Cholamandalam Investment and Finance Company Limited, No.45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys, Chennai - 600 001.

Represented by its Authorised Signatory.

... Applicant -Versus1.Mr.Murugan V.

S/o Vengataraman, No.5/158, Vellakal, Dokkubodanhalli, Dharmapuri, Near Bus Stop, Tamil Nadu - 636 807.

2.Mr.Kumar.V, S/o Vengataraman, No.5/122, Vellakal, Dokkubodanhalli, Dharmapuri, Near Bus Stop, Tamil Nadu - 636 807.

... Respondents Arbitration Application praying that this Hon'ble Court be pleased to direct the Respondents to furnish security for the sum of

Rs.2,42,335/- within a time fixed by this Hon'ble Court failing which to order attachment of the immovable properties morefully described in the Schedule to the Judges Summons pending disposal of arbitration proceedings between the Applicant and the Respondents and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order be transmitted through the Sub-Court, Dharmapuri and the attachment order may be hand delivered to the applicant for transmission.

This application coming on this day before this court for hearing in the presence of Mr.D.Pradeep Kumar, Advocate for the Applicant herein, and the respondents herein not appearing in person or by advocate and upon reading the order herein dated 24.08.2021 , it is ordered as follows:- That the immovable properties more fully set out in the schedule hereunder be and is hereby attached.

2.That 2 copies of this order be transmitted to the Sub-Court, Dharmapuri for effecting the attachment and the said court do cause the said immovable properties to be attached through Senior Bailiff of the said Court in respect of the claim of a sum of Rs.2,42,335/-(Rupees Two lakhs Forty Two thousand Three Hundred and Thirty Five only) and communicate the effect of such attachment to the Registering Officer within the local limits of whose jurisdiction the whole or any part of the immovable

properties are situated.

Schedule of Property Property Belonging to 2 nd Respondent House Site comprised in Survey No. 262/1 measuring an extent of 3052 sq.ft. (Equalent to Acre 0.07 Cents/ 283.54 sq.mt.) out of total extent of Hectare 0.76.0 in Dokkubodanhalli Village having bounded on the North by East to West 12'ft Road South by Sanyasi's Land East by Veeramani;s Land West by Balance Land Within SRO Dharmapuri West WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 28th DAY OF SEPTEMBER 2021.

Sd/- ASSISTANT REGISTRAR (Comm. Cases) //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

EVK 12.10.2021 Arb.Appln.No.74 of 2021

ORDER

DATED :28.09.2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN FOR APPROVAL: 20/10/2021 APPROVED ON: 25/10/2021

IN THE HIGH COURT OF JUDICATURE AT MADRAS

M/s.Cholamandalam Investment and Finance Company Limited, No.45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys, Chennai - 600 001.

Represented by its Authorised Signatory.

... Applicant -Versus1.Mr.Murugan V.

S/o Vengataraman, No.5/158, Vellakal, Dokkubodanhalli, Dharmapuri, Near Bus Stop, Tamil Nadu - 636 807.

2.Mr.Kumar.V, S/o Vengataraman, No.5/122, Vellakal, Dokkubodanhalli, Dharmapuri, Near Bus Stop, Tamil Nadu - 636 807.

... Respondents Arbitration Application praying that this Hon'ble Court be pleased to direct the Respondents to furnish security for the sum of

This Application coming on this day before this court for hearing the court made the following order:- This application is filed seeking a direction to the respondents to furnish security for the sum of Rs.2,42,335/- within a time fixed by this Court failing which, to order attachment of the immovable properties morefully described in the Schedule to the Judges Summons pending initiation and disposal of arbitration proceedings between the applicant and the respondents and till enforcement of the award that may be ultimately passed in the arbitration proceedings and a copy of the attachment order be transmitted through the Sub Court, Dharmapuri and the attachment order may be hand delivered to the applicant for transmission. 2.Heard the learned counsel for the applicant. 3.The case of the applicant is that the respondents herein have

purchased a vehicle Ashok Leyland Dost by availing loan. It is stated that the respondents have paid initial few installments and thereafter they turned out to be a defaulter. As the respondents have not paid further installments the applicant has come up with the present application. 4.On the earlier occasion, this Court has ordered furnishing of security by the Respondents within a period of four weeks vide order dated 24.08.2021. When the matter is taken up for hearing today, learned counsel for the applicant would submit that the respondents have not complied with the direction passed by this Court. Therefore, he insists upon ordering attachment.

5.No appearance on behalf of the Respondents. 6.Considering the above facts and circumstances of the case, there shall be an order of attachment of the property described in the Judge's summons. Accordingly, the application stands allowed. Sd./-V.P.N.J.

28.09.2021 //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.