M/S.Cholamandalam Investment v. Mr.Madhan G And Another

Arb.Appln.No.136 of 2022 Arb.Appln.No.136 of 2022 SENTHILKUMAR RAMAMOORTHY, J.

The applicant is a lender and had extended credit facilities to the respondent herein. On account of the default in fulfilling obligations under the relevant loan agreement, the applicant filed A.No.4761 of 2018 earlier and, by order dated 12.11.2018, the immovable property described in the schedule to the Judge's summons was attached.

2. On the basis that the relevant loan account was settled subsequently by the borrower the present application is filed by the lender to raise the attachment.

3. An order raising the attachment of the immovable asset of the second respondent would enure to the benefit of the respondents. Consequently, notice to the respondents is dispensed with. 1/2 https://www.mhc.tn.gov.in/judis

Arb.Appln.No.136 of 2022 SENTHILKUMAR RAMAMOORTHY, J.

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4. Since the lender, at whose instance the order of attachment was issued, seeks to raise the said order of attachment, this application is liable to be allowed.

5. Accordingly, Arb.Appln.No.136 of 2022 is allowed by raising the order of attachment dated 12.11.2018 in A.No.4761 of 2018. A copy of this order shall be transmitted to the SRO, Pudhupandi through the District Court, Nagerkoil.

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