Disposed

Cholamandalam investment v. M/s.Karmavir Pratishthan

Madras HC24 Oct 2017A/4560/2017

Case brief

AI extract

What is this about?

The court disposed of an application for appointment of a receiver to seize a vehicle. It noted that the underlying asset had already been seized by a court-appointed commissioner and an arbitration award favoring the applicant had been passed on 09.08.2017, rendering further proceedings moot.

What did the court decide?

The application was closed as nothing further survived due to prior seizure and concluded arbitration.

Cholamandalam investment Vs M/s.Karmavir Pratishthan — Arbitration | Madras HC (2017)

¶1

¶2

IN THE HIGH COURT OF JUDICATURE AT MADRAS

¶3

(ORDINARY ORIGINAL CIVIL JURISDICTION)

¶4

TUESDAY, THE 24TH DAY OF OCTOBER 2017

¶5

THE HON'BLE DR. JUSTICE ANITA SUMANTH

¶6

A. No.4560 of 2017

¶7

In the matter of Arbitration & Conciliation Act, 1996

¶8

And

¶9

In the matter of Disputes between M/s.Cholamandalam Investment and Finance Company Ltd., and Mr.Karmavir Pratishthan Arising under Loan Agreement No. XVFPJNA00001223992 Dated 25.06.2014.

¶10

M/s. Cholamandalam Investment and Finance Company Limited, 'Dare House', No.2, N.S.C.Bose Road, Parrys, Chennai – 600 001.

¶11

Represented by its Authorised Signatory

¶12

Vs.

¶13

Mr.Karmavir Pratishthan

¶14

088, Shrishail, Opp. Jalna Co-op Sugar Mill, A/P Ram Nagar, TQ & Dist. - Jalna, Maharashtra – 431 203.

¶15

Application praying that this Hon'ble Court be pleased to

¶16

appoint employee of the Applicant viz. Mr.Digambar Paikade, Area Receivables Manager, as Receiver to seize and take possession of the vehicle which is more fully described in the schedule to the Judges summons which is lying in the custody of respondent or his men, agents, servants from his premises or wherever found with Police aid and break open of premises if necessary.

¶17

¶18

This Application coming on this day before this court for hearing the court made the following order:

¶19

By order, dated 11.08.2017, this Court appointed Mr.Digambar Paikade, Area Receivables Manager, as Receiver, to seize and possess the vehicle in question.

¶20

Pursuant to the order issued by this Court to seize the vehicle, it is today represented by the learned counsel appearing for the applicant that the asset has been seized and handed over to the applicant company by the Advocate Commissioner. He would also confirm that proceedings for arbitration in connection with the transaction relating to the aforesaid asset have been concluded and an award has been passed favouring the applicant on 09.08.2017. The statement is recorded.

¶21

Though the respondent has been served and his name appears in the cause list, none appears on his behalf.

¶22

In view of the above, nothing further survives in this application and the same stands closed. The parties are free to take such action, as they may desire hereinafter, in accordance with law.

¶23

//Certified to be true copy//

¶24

Dated at Madras this the th day of 2017.

¶25

TPY/14.11.2017

¶26

From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

Cholamandalam investment v. M/s.Karmavir Pratishthan

Case brief

What is this about?

What did the court decide?

Cholamandalam investment v. M/s.Karmavir Pratishthan

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

S.Ashok Kumar, Age:52 years Vs Qube Cinema Technologies Pvt.

M/S.Rahee Infratech Limited Vs the Principal Chief Engineer

Cholamandalam investment Vs Mr.harendrabhai U Chauhan

Mycon Construction Ltd., Vs Mecon Limited

M.Harikumar Vs M/s.Akshaya Private Ltd.

M/s.Cholamandalam Investment Vs Mr.gurpreet singh