M/S.Cholamandalam Investment And Finance Company Limited v. Tuppagudem Ramreddy And Another

Arb.Appln.No.230 of 2022 Arb.Appln.No.230 of 2022 SENTHILKUMAR RAMAMOORTHY, J.

The applicant had extended credit facilities to the respondents. On the ground that the respondents failed to adhere to the terms of such loans, an application was filed previously for attachment of an immovable asset of the second respondent. An order of attachment dated 27.06.2019 was issued on such application.

2. By asserting that the relevant loan accounts were settled by the borrowers thereafter, the lender has presented this application. An order raising the attachment would enure to the benefit of the borrowers. As such, notice to the borrowers is dispensed with.

3. Since the lender, at whose instance the order of attachment was issued, seeks to raise the same on the ground that the relevant loans were settled by the borrowers, this application is liable to be allowed as prayed for.

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Arb.Appln.No.230 of 2022 SENTHILKUMAR RAMAMOORTHY, J.

rna

4. Consequently, this application is allowed as prayed for. A copy of the order raising the attachment shall be transmitted to the SRO, Shad Nagar, Telangana through the District Court, Mehabub Nagar, Telangana. 07.11.2022 rna Arb.Appln.No.230 of 2022 2/2 https://www.mhc.tn.gov.in/judis