Sri Kandan Agencies v. Cholamandalam Investment And Finance Company Limited

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 28-10-2025

CORAM

THE HONOURABLE MR JUSTICE N. ANAND VENKATESH IN A No. 5862 OF 2018 M/s.Sri Kandan Agencies No. 1643, Imperial Complex, Thadagai Road, Velandi Palayam, Near Andhra Bank, Coimbatore Tamil Nadu-641025.

Appellant(s) Vs M/s.Cholamandalam Investment and Finance Company Limited, Dare House, No.2, N.S.C.Bose Road, Parrys, Chennai 600 001., Rep.by its Authorised Signatory.

Respondent(s) A No. 5862 of 2018 M/S.Cholamandalam Investment And Finance Company Limited Dare House, No.2 N.S.C.Bose Road, Chennai 600 001., Rep.By Its Authorised Signatory

Vs M/S.Sri Kandan Agencies And Finance Company Limited Dare House, No.2 N.S.C.Bose Road, Chennai 600 001.

Rep.By Its Authorised Signatory PRAYER To pass an order to raise the attachment dated 30/07/2019 in A.No.5862 of 2018 attaching the immovable property more fully described in the schedule of Judges Summons and copy of the order of raising the attachment be transmitted through District Court Nilagiri and communicated to the Office of the Sub Registrar Mettuppalayam.

For Appellant(s):

Mr.Pradhosh A.R

ORDER

This application has been filed for raising the attachment order passed in Application No.5862 of 2018, dated 30.7.2019.

2.The respondent in this application filed an application under Section 9 of the Arbitration and Conciliation Act, 1996 for a direction to the applicant herein to furnish security to the tune of Rs.7,58,983/- and on failure to attach the immovable property belonging to the applicant. 3.This Court by an order dated 30.07.2019 attached the immovable property.

4.Pursuant to the above order, the applicant herein has settled the entire amount to the respondent and the respondent has also issued the settlement letter dated 26.11.2024.

5.In the light of the above development, the present application has been filed to raise the attachment.

6.Considering the fact that the entire loan amount has been settled and the settlement letter has been issued to the respondent on 26.11.2024, this Court is

inclined to raise the attachment order passed by this Court in A.No.5862 of 2018 dated 30.07.2019. This order shall be communicated to the concerned Sub Registrar Office, in order to make the necessary entry in the encumbrance certificate.

7.This application is disposed of in the above terms. No costs. 28-10-2025 Index:Yes/No Speaking/Non-speaking order Internet:Yes KP

To Cholamandalam Investment and finance company limited Dare House, No.2, N.S.C.Bose Road, Parrys, Chennai 600 001.

Rep.by its Authorised Signatory.

N.ANAND VENKATESH J.

kp Arb Appln No. 1294 of IN A NO. 5862 OF 2018 28-10-2025