M/S.Cholaandalam Investment And Finance Co. Ltd. v. Mr.Bharat Singh Yadav And Another
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) WEDNESDAY, THE 03RD DAY OF JUNE 2020 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR A.No.7090 of 2019 In the matter of Arbitration and Conciliation Act, 1996 and In the matter of Disputes between M/s.Cholamandalam Investment and Finance Company Limited and Mr.Bharat Singh Yadav and another arising under Loan Agreement No.XSHUKDH00002265666 Dated 30.01.2018.
M/S.CHOLAMANDALAM INVESTMENT AND FINANCE CO. LTD. Dare House,No.2, N.S.C.Bose Road, Parrys, Chennai-600001.
Represented by its Authorised Signatory ..Applicant -Vs1. MR.BHARAT SINGH YADAV, S/O.RAMLAL, KUDHAWA, MANGAT, KANPUR DEHAT, UTTAR PRADESH - 209 121.
2. MR.RAMLAL S/O.GANESH KUDHAWA, MANGAT, KANPUR DEHAT UTTAR PRADESH - 209 121.
..Respondents
Application praying that this Hon'ble Court be pleased to direct the Respondent to furnish security for the sum of Rs.8,50,812.91/- 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 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 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 CIVIL JUDGE, SENIOR DIVISION, UNNAO UTTAR PRADESH and the attachment order may be hand delivered to the applicant for transmission. This Application coming on this day before this court for hearing, the court made the following order:
Though this application has been filed seeking direction to furnish security, from the submissions of the learned counsel for the applicant, it came to know that the vehicle was already seized and further, the award was also passed in favour of the applicant.
2. In view of the same, this Court is not inclined to pass any order for furnishing security. However, it is open to the applicant to enforce the award to realize the remaining amount, if any, before the appropriate forum.
3. With the above observations, this application is closed. Sd/.N.S.K.J.
03.06.2020 //Certified to be a true copy// Dated this the th day of 2020. su.26/06/2020 COURT OFFICER(O.S.) From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.