P.Karikalan (Deceased) 1.Tamilrani And 2 Others v. M/S Kotak Mahindra Bank Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 25.10.2025

CORAM:

THE HONOURABLE MR.JUSTICE N.ANAND VENKATESH Arb. Application No.1387 of 2025 in A.No.619 of 2011 P.Karikalan (Deceased) 1.Tamilrani W/o. Late. P. Karikalan, Iyyampatti Nattarmangalam, Usilampatti Taluk, Near Siva Temple, Madurai, Pin - 625532.

2. Sivaranjini D/o. Late. P. Karikalan, Iyyampatti Nattarmangalam, Usilampatti Taluk, Near Siva Temple, Madurai, Pin - 625532.

3. Sivanath Babu S/o. Late. P. Karikalan, Iyyampatti Nattarmangalam, Usilampatti Taluk, Near Siva Temple, Madurai, Pin - 625532.

... Applicants Vs.

M/s Kotak Mahindra Bank Ltd No.3, Dass India Towers, 1/4

II Floor, 2nd Line Beach, Parrys, Chennai 600 001, Rep.by its Senior Manager (Legal)

...Respondent

Prayer: Arbitration Application filed under Order XIV Rule 8 of O.S. Rules read with Section 9(1)(2)(ii)(a)(b)(d)&(e) of the Arbitration and Conciliation Act, 1996, praying to raise the order of attachment dated 23/03/2011 passed in A.No.619 of 2011 attaching the immovable property morefully described in the schedule to the Judges Summons and a copy of the order raising attachment be transmitted through the Honble District Court, Madurai. For Applicants :

Mr.A.S.Sathiesh Kumar For Respondent :

Mrs.Meera Gnanasekar

O R D E R

This application has been filed for raising the order of attachment dated 23.03.2011 passed by this Court in A.No.619 of 2011.

2. Heard the learned counsel for the applicants and the learned counsel for the respondent.

3. The respondent had filed an application in A.No.619 of 2011 under Section 9 of the Arbitration and Conciliation Act, 1996 and this Court passed an order on 23.03.2011, attaching immovable property of the applicants' father till the completion of arbitral proceedings. 2/4

4. The parties thereafter, compromised the dispute and the amount was settled to the respondent Bank and "No Objection Certificate" was also given by the respondent Bank.

5. The learned counsel for the respondent Bank submitted that the amount has been settled by the applicants and hence, the order of attachment can be raised.

6. In view of the above, the order of attachment dated 23.03.2011 passed in A.No.619 of 2011 is raised and this Application is allowed.

7. This order shall be communicated to the concerned Sub-Registrar's Office to make necessary entries in the Encumbrance Register. 25.10.2025 mk Index: Yes/No Speaking Order/Non-Speaking Order 3/4

N.ANAND VENKATESH, J.

mk Arb. Application No.1387 of 2025 in A.No.619 of 2011 25.10.2025 4/4