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Madras High CourtOA/699/2025closed

Sundaram Finance Ltd v. Ramasamy Traders

2025-09-16Honourable Mr Justice N. Anand Venkatesh7 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 16-09-2025

CORAM

THE HONOURABLE MR JUSTICE N. ANAND VENKATESH OA No. 699 of 2025

1. Sundaram Finance Ltd No.21, Patullos Road, Chennai 600 002.

Represented by its Authorised Signatory Mr.R.Srinivasan.

Applicant(s) Vs

1. Ramasamy Traders Rep.by its Proprietor Mr.Vignesh Ramasamy B, 80E, Saidapet Road, Vadapalani, Chennai 600 026.

2.B Karthik S/o. Mr. Balasubramanian, No.

9/5, Verghese Avenue, Ashok Nagar, Chennai 600083 3.B Vignesh Ramasamy S/o. Mr. Balasubramanian, No.

9/5, Verghese Avenue, Ashok Nagar, Chennai 600083 4.S Balasubramanian

Respondent(s) OA No. 700 of 2025

1. Sundaram Finance Ltd No.21, Patullos Road, Chennai 600 002 Represented by its Authorised Signatory Mr.R.Srinivasan Applicant(s) Vs

1. Karthick Traders 2.B Karthik S/o. Mr. Balasubramanian, No.

9/5, Verghese Avenue, Ashok Nagar, Chennai 600083 3.B VigneshRamasamy S/o. Mr. Balasubramanian, No.

9/5, Verghese Avenue, Ashok Nagar, Chennai 600083 4.S Balasubramanian Respondent(s) OA No. 699 of 2025 PRAYER To pass an order of Interim Injunction restraining 4th Respondent by himself, his servants, assigns, agents, representatives, officers, trustees, beneficiaries, administrator/s or any other person claiming through or under them or under any instrument, whatsoever, from in any manner selling, alienating, transferring, parting with the possession of, dealing with, disposing of inducting anyone into or

developing or creating any third party right or interest of whatsoever nature and in any manner whatsoever, in respect of the property more fully described in the schedule hereunder. OA No. 700 of 2025 PRAYER To pass an order of Interim Injunction restraining 4th Respondent by himself, his servants, assigns, agents, representatives, officers, trustees, beneficiaries, administrator/s or any other person claiming through or under them or under any instrument, whatsoever, from in any manner selling, alienating, transferring, parting with the possession of, dealing with, disposing of inducting anyone into or developing or creating any third party right or interest of whatsoever nature and in any manner whatsoever, in respect of the property more fully described in the schedule hereunder. For Applicant(s):

M/s.M.Arunachalam For Respondent(s):

M/s.R.Vijayaraghavan for R1 to R4

ORDER

These applications have been filed under section 9 of the Arbitration and Conciliation Act, 1996 seeking for an interim injunction restraining the 4th respondent from in any manner selling, alienating, transferring etc., of the subject property to any third party.

2.

When the matter was taken up for hearing today, the counter affidavit filed by the 4th respondent was placed before this Court along with the copy of the sale certificate dated 29.10.2009.

3.

In the counter affidavit filed by the 4th respondent, it has been stated that the subject property has already been sold in the SARFAESI proceedings that were initiated by the bank and the sale certificate dated 29.10.2009 came to be issued. 4.

In the light of the above development, no further orders can be passed in these applications and both these applications are closed.

5.

The learned counsel for the applicant submitted that already the trigger notice under Section 21 of the Act has been issued and steps are being taken to file a petition under Section 11 of the Act. As and when any such petition is filed by the applicant, the same will be dealt with on its own merits and in accordance with law. 16-09-2025 rka Index:Yes/No Speaking/Non-speaking order Internet:Yes

To 1.Ramasamy Traders Rep.by its Proprietor Mr.Vignesh Ramasamy B, 80E, Saidapet Road, Vadapalani, Chennai 600 026.

2.B Karthik S/o. Mr. Balasubramanian, No.

9/5, Verghese Avenue, Ashok Nagar, Chennai 600083 3.B Vignesh Ramasamy S/o. Mr. Balasubramanian, No.

9/5, Verghese Avenue, Ashok Nagar, Chennai 600083 4.S Balasubramanian OA No. 700 of 2025 To 1.Karthick Traders 2.B Karthik S/o. Mr. Balasubramanian, No.

9/5, Verghese Avenue, Ashok Nagar, Chennai 600083 3.B VigneshRamasamy S/o. Mr. Balasubramanian, No.

9/5, Verghese Avenue, Ashok Nagar, Chennai 600083 4.S Balasubramanian

N.ANAND VENKATESH J.

rka OA No. 699 of 2025 OA NO. 700 OF 2025 16-09-2025