Cholamandalam Investment And Finance Co Ltd v. Managing Partner M/S.Delhi Infraequip

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 28-10-2025

CORAM

THE HONOURABLE MR JUSTICE N. ANAND VENKATESH Cholamandalam Investment And Finance Company Limited Chola Crest, C 54 and 55, Super B-4, Thiru Vi Ka Industrial Estate, Guindy, Chennai-600032 Represented by its Authorised Signatory Appellant(s) Vs

1. Managing Partner M/s.Delhi Infraequip First Floor, S-34, Sakthan Arcade, Akhanthampuram, Nagar, Thrissur, Sakthan Thampuram Nagar, Kerala 680 001.

2.State Bank of India Sakthan Nagar, Building No. 9/567A2, 567A12, Door No. 33-151, Prathap Sing Building, Ist Floor, Thrissur-680001.

Respondent(s)

PRAYER To pass an order directing the garnishee to debit freeze the bank account bearing Account No.40530272508, IFS Code SBIN0012892 maintained by the respondent with the garnishee to the extent of a sum of Rs.43,85,152.45 and further to direct the Garnishee to deposit the sum of Rs.43,85,152.45 or any amount lying in the bank account to the credit of this application. For Applicant(s):

Mr.D.Pradeep Kumar For Respondent(s):

Mr.B.Raghavalu Naidu for R2

ORDER

This Arbitration Application has been filed under Section 9 of the Arbitration and Conciliation Act, 1996, to direct the 2nd respondent Bank to debit freeze the bank account bearing Account No.40530272508 IFS Code SBIN0012892 maintained by the respondent with the garnishee to the extent of a sum of Rs.43,85,152.45 and further to direct the Garnishee to deposit the sum of Rs.43,85,152.45 or any amount lying in the bank account to the credit of the applicant.

2.Notice was ordered by this Court to the respondents. Both the respondents have been served with notice. The 1st respondent has not entered appearance and the name of the 1st respondent has been printed in the cause list. 3.The 2nd respondent has entered appearance and an affidavit has been filed by the 2nd respondent Bank. The relevant portions are extracted hereunder:

3. It is respectfully submitted that in the above Arbitration application prayed to pass an order directing the garnishee to debit freeze the bank account bearing A/c No. 40530272508-IFSC code: SBIN0012892, maintained by the 1st respondent with the 2nd respondent to the extent of a sum of Rs. 43,85,152.45 and further direct the garnishee to deposit a sum of Rs. 43,85,152.45 or any amount lying in the bank account to the credit of the applicant.

4. It is respectfully submitted that in the said account, the balance available is a sum of Rs. 414. 18 as on 16.09.2025. The statement of account from 1.8.2025 to 16.9.2025 is enclosed.

4.Heard the learned counsel for the applicant and the learned counsel appearing on behalf of the 2nd respondent.

5.It is clear from the affidavit filed by the 2nd respondent Bank that what is available in the bank account is only Rs.414.18 as on 16.9.2025. 6.The applicant is only seeking for a direction to the 2nd respondent to debit freeze the bank account so that if any money comes into the bank henceforth, it will not move out of the account and it will stand as a security to the applicant.

7.The 1st respondent is due and payable a sum of Rs.43,85,152.45 as on 02.07.2025 and this amount would have increased by now. The 1st respondent has also not chosen to come before this Court and contest the application.

8.In view of the above, this application is allowed as prayed for. No costs. 28-10-2025 Index:Yes/No Speaking/Non-speaking order Internet:Yes KP To 1.Managing Partner M/s.Delhi infraequip First Floor, S-34, Sakthan Arcade, Akhanthampuram, Nagar, Thrissur, Sakthan Thampuram Nagar, Kerala 680 001.

2.State Bank of India Sakthan Nagar, Building No. 9/567A2, 567A12, Door No. 33-151, Prathap Sing Building, Ist Floor, Thrissur

N.ANAND VENKATESH J.

kp 28-10-2025