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Madras High CourtArb O.P(COM.DIV.)/254/2025disposed of

M/S.Cholamandalam Investment And Finance Company Limited, v. Mr.Rajesh N

2025-08-06Honourable Mr Justice Abdul Quddhose2 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 06.08.2025

CORAM

THE HONOURABLE MR JUSTICE ABDUL QUDDHOSE Arb.O.P. (Com.Div.) Nos.254 to 289 of 2025 and Arb. Appln. Nos.285 to 294, 307 to 311, 326 to 334, 354 to 359 & 385 to 390 of 2025 M/sCholamandalam Investment and Finance Company Limited .. Petitioner in Arb.O.P.

(Com.Div.) No.254 of 2025 vs Rajesh N. and another .. Respondents in Arb.O.P.

(Com.Div.) No.254 of 2025 Prayer in Arb.O.P. (Com.Div.) No.254 of 2025 : Arbitration Original Petition (Commercial Division) filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 to appoint a Sole Arbitrator to adjudicate the dispute arising under Loan Agreement No.XVFPNKL00005066186 dated 07.10.2022 between the petitioner and the respondents as per the Loan Agreement No.XVFPNKL00005066186 dated 07.10.2022 and to direct the respondents to pay the costs of this petition.

For Petitioner in all cases : Mr.D.Pradeep Kumar For Respondents in all cases : Ms.S.Varsha

ORDER

The petitioner and the respondents have arrived at an amicable settlement. A Memorandum of Understanding dated 31.07.2025 has been filed recording the terms of the settlement. The respective respondents along with the petitioner have also signed the Memorandum of Understanding dated 31.07.2025. https://www.mhc.tn.gov.in/judis

ABDUL QUDDHOSE,J.

vga 2.In terms of the Memorandum of Understanding dated 31.07.2025, these petitions and applications are disposed of.

3.In view of the settlement reached between the parties, the interim orders granted by this Court in Arb.Appln. Nos.285 to 294 of 2025, 307 to 311 of 2025, 326 to 334 & 354 to 359 of 2025 on 03.02.2025, 10.02.2025 and 24.02.2025 respectively shall stand vacated. The respective garnishees, who are parties to these applications, in view of the settlement reached between the parties, can release payments to the respective respondents, since the garnishee orders stand vacated. No costs.

06.08.2025 vga Arb.O.P. (Com.Div.) Nos.254 to 289 of 2025 and Arb. Appln. Nos.285 to 294, 307 to 311, 326 to 334, 354 to 359 & 385 to 390 of 2025 https://www.mhc.tn.gov.in/judis