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Madras High CourtA/9530/2019dismissed

M/S.Shriram City Union Finance Ltd. v. Mr.D.Mohan Kumar

2020-03-09Honourable Mr Justice N. Sathish Kumar3 pages

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY, THE 09TH DAY OF MARCH 2020 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR A. Nos.9530 and 4554 of 2019 In the matter of Arbitration & Conciliation Act, 1996 And In the matter of - Arbitration of dispute between M/S.SHRIRAM CITY UNION FINANCE LIMITED, and MR.D.MOHANKUMAR-Loan Agreement No.GUDTMTF1703290001, DATED 31.03.2017.

A. Nos.9530 and 4554 of 2019:

M/S.SHRIRAM CITY UNION FINANCE LTD.

Having its Branch Office at No.12, Ramasamy Street, T.Nagar, Chennai - 600 017 Rep.by its Authorized Signatory Mrs.E.Ramya ..Applicant/Applicant in both applications -VsMR.D.MOHAN KUMAR S/o.Mr.A.G.Dhasaradhanaidu No.203/7, R.S.Road, Sedukkari Post, Gudiyatham Taluk, Vellore, Tamilnadu- 632 602.

..Respondent/Respondent in both applications A.No.9530 of 2019:

Application praying that this Hon'ble Court be pleased to amend the prayer from " Therfore the Applicant prays that this Hon'ble Court may

/ 2 / be pleased to appoint a receiver to administer the property of the Respondent more fully described in the Schedule to the Judge's summons pending disposal of the Arbitration Proceedings and enforcement of the award and pass such further and other orders as this Hon'ble Court deems fit in the circumstances of the case and thus render justice" to Therefore the Applicant prays that this Hon'ble Court may be pleased to appoint a Party Receiver, namely Mr.P.Ganesan, Officer-1, for the Applicant Company of M/s.Shriram City Union Finance Limited, the Applicant herein to administer the property of the Respondent more fully described in the Schedule to the Judge's Summons pending disposal of the Arbitration proceedings and enforcement of the award.

A.No.4554 of 2019:

Application praying that this Hon'ble Court be pleased to appoint a receiver to administer the property of the Respondent morefully described in the Schedule to the Judge's summons pending disposal of the Arbitration proceeding and enforcement of the award.

These Applications coming on this day before this court for hearing the court made the following order:

Application No.9530 of 2019 has been filed seeking to appoint a party receiver, namely Mr.P.Ganesan, Officer - 1, for the applicant company

/ 3 / of M/s.Shriram City Union Finance Ltd., the applicant herein to administer the property of the respondent morefully described in the Schedule to the Judge's summons pending disposal of the Arbitration Proceedings and enforcement of the award.

2. Application No.4554 of 2019 has been filed seeking to appoint a receiver to administer the property of the respondent morefully described in the Schedule to the Judge's Summons pending disposal of the Arbitration Proceeding and enforcement of the award.

3. Heard both sides.

4. Considering the fact that the applicant company is a registered mortgagee and their right is very well protects in law, this Court is of the view that there is no necessity to grant the relief as prayed for. Hence, these Applications are closed.

Sd/.N.S.K.J.

09.03.2020 //Certified to be a true copy// Dated this the day of 2020. SU/01.07.2020 COURT OFFICER(O.S.) From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.