Disposed

V.Jeevanandham v. M/s Sundaram Finance Limited

Madras HC25 Mar 2021OA/119/2021

Case brief

AI extract

What is this about?

The High Court appointed an arbitrator to resolve disputes arising from two loan agreements between the applicant and the respondent. The court also ordered that an interim injunction restraining seizure of the applicant's vehicle shall continue until arbitration concludes.

What did the court decide?

Appointment of Arbitrator; continuation of interim order restraining respondent from seizing applicant's vehicle.

V.Jeevanandham Vs M/s Sundaram Finance Limited — Arbitration | Madras HC (2021)

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O.A.No.119 of 2021

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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Dated : 25.03.2021

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CORAM

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THE HONOURABLE Ms. JUSTICE P.T. ASHA

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O.A.No.119 of 2021
V.Jeevanandham ... Applicant
Vs.
M/s.Sundaram Home Finance Limited
Rep. by its Branch Manager,
Ariyalur Branch, Ariyalur and also Having head office at
No.21, Patullos Road, Chennai – 600002. ... Respondent
Prayer : Judges summons filed under Order XIV Rule 8 of O.S.Rules
r/w section 9 of Arbitration and Conciliation Act, 1996 to grant an

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order of Ad-interim injunction restraining the respondent or his men, agents, or any other person claiming the person of the respondent form seizing the Applicationer's vehicle Leyland Lorry 3116 bearing registration No.T.N 52 A 8755 2010 model Engine No.SAE126177Z

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Chasis No.MBIKADVC6AESD1179.

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https://www.mhc.tn.gov.in/judis/

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O.A.No.119 of 2021

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For Applicant : Mr.R.Raman Lal For Respondent : Mr.Umashankar

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ORDER The applicant and the respondent had entered into a loan agreement dated 12.09.2018, under which the respondent had extended a credit facility of a sum of Rs.9,00,000/-, which was supposed to be repaid by the applicant in 35 equated monthly installments. The first of such installments was a sum of Rs.34,348/and the remaining 34 installments was at the rate of Rs.32,200/- each. In addition to this agreement another agreement dated 21.12.2018 was entered into between the applicant and the respondent, with reference to purchase of fuels, lubricants, etc., where a sum of Rs.1,50,000/was extended as a loan to the applicant.

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https://www.mhc.tn.gov.in/judis/

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O.A.No.119 of 2021

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A perusal of both the agreements would show that the parties

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have agreed to refer their disputes to arbitration. The parties have also consented to have an arbitrator to resolve the dispute that has

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arisen between them.

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In the light of the above circumstances, this Court is passing the following order:

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i) Mr.K.Gowtham Kumar, Old No.83A, New No.20A, Luz Avenue, 5^th street, Mylapore, Chennai – 600004, Mob: 9840667863

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is appointed as an Arbitrator in respect of the loan agreement dated 12.09.2018 and the agreement dated 21.12.2018.

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ii) The arbitrator may, after issuing notice to the parties and

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upon hearing them, pass an award as expeditiously as possible, preferably within a period of six months from the date of entering reference. It is open to the respondent to raise all legal objections as

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to the validity of contract. It is needless to state that the parties shall

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https://www.mhc.tn.gov.in/judis/

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O.A.No.119 of 2021

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cooperate in the conduct of the arbitral proceedings.

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iii) The arbitrator is at liberty to fix the remuneration and other

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incidental expenses as per law.

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iv) The proceedings may be conducted at the Nani Palkhivala

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Arbitration Centre, New D.No.22, Karpagambal Nagar, Mylapore, Chennai 600004. The Centre has been recognised as an Institution by orders of the Hon'ble Chief Justice dated 19.09.2005.

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The Original Application is ordered leaving the parties to bear their own costs. Interim order already granted by this Court shall continue till arbitral proceedings are concluded. No costs.

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25.03.2021 Internet : Yes/No Index :Yes/No Speaking / Non-Speaking kan

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https://www.mhc.tn.gov.in/judis/

O.A.No.119 of 2021

P.T. ASHA. J,

kan

O.A.No.119 of 2021

25.03.2021

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https://www.mhc.tn.gov.in/judis/

V.Jeevanandham v. M/s Sundaram Finance Limited

Case brief

What is this about?

What did the court decide?

V.Jeevanandham v. M/s Sundaram Finance Limited

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

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