The High Court of Madras allowed the withdrawal of an arbitration application seeking the appointment of a receiver to seize a hypothecated vehicle, as the matter was settled out of court.
Arbitration application withdrawn/settled; no order as to costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION)
MONDAY, THE 13TH DAY OF JUNE 2022
THE HON'BLE MR. JUSTICE M. SUNDAR
Arb.Appln.No. 59 of 2021
In the matter of Arbitration and Conciliation Act, 1996
And
In the matter of Loan cum Hypothecation Agreement, and dispute between M/s. HDB Financial Services., and Madhan R Loan No. 6620189 Dated - 26.02.2019.
M/s. HDB Financial Services Limited., Registered Office at Radhika, 2nd Floor, Law Garden Road, Navrangpura, Ahmedabad - 380 009. Corporate Office at Process House, 2nd Floor, Kamala Mills Compound, Lower Parel, Mumbai - 400 013. Branch Office at 4th Floor, Loyal Towers, No.68/2, Greams Road, Chennai - 600 006. Represented by its Associate - Legal Mr. Shanmuga Sundaram. ... Applicant -VsMr. Madhan R, No.68/50, Chinna Street, Perumalrajapettai, Vellore, Guruvarajupettai, Tamil Nadu - 631 101. ... Respondent
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Arbitration Original Petition praying that this Hon'ble Court be pleased to appoint Mr.P.Saravanan, as receiver to seize and deliver the vehicle Make - JCB 3DX XTRA, Registered No. TN73AY0355. Chassis No. HAR3DXXTJ02832382, Engine No. H00219787 available at the Respondent's premises or wherever found and permit the receiver, to obtain police aid and to break open the premises.
This Arbitration Application coming on this day before this court for hearing in the presence of Mr.M.Arunachalam, Advocate for the Applicant herein and Mr.P.Krishnan, Advocate for the Respondent herein, and upon reading the Judges Summons and the Affidavit of Mr.Shanmuga Sundaram filed herein and the Learned counsel for the applicant having made an endorsement on the Application stating that "The matter is settled out of Court. Hence it is prayed that this Hon'ble Court be pleased to permit the Applicant to withdraw this application", and It is ordered as follows :-
That the Arb.Appln.No. 59 of 2021 be and is hereby closed as withdrawn/settled out of Court.
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WITNESS THE HON'BLE MR. JUSTICE MUNISHWAR NATH BHANDARI, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 13TH DAY OF JUNE 2022.
Sd/ASSISTANT REGISTRAR (Comm Cases) //Certified to be true copy// Dated at Madras this the day of 2022.
COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.
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ED 17.06.2022
Arb Appln. No. 59 of 2021
ORDER
DATED: 13.06.2022
THE HON'BLE MR. JUSTICE
M. SUNDAR
FOR APPROVAL : 17.06.2022
APPROVED ON : 20.06.2022
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION)
MONDAY, THE 13TH DAY OF JUNE 2022
THE HON'BLE MR. JUSTICE M. SUNDAR
Arb.Appln.No. 59 of 2021
In the matter of Arbitration and Conciliation Act, 1996
And
In the matter of Loan cum Hypothecation Agreement, and dispute between M/s. HDB Financial Services., and Madhan R Loan No. 6620189 Dated - 26.02.2019.
M/s. HDB Financial Services Limited., Registered Office at Radhika, 2nd Floor, Law Garden Road, Navrangpura, Ahmedabad - 380 009. Corporate Office at Process House, 2nd Floor, Kamala Mills Compound, Lower Parel, Mumbai - 400 013. Branch Office at 4th Floor, Loyal Towers, No.68/2, Greams Road, Chennai - 600 006. Represented by its Associate - Legal Mr. Shanmuga Sundaram. ... Applicant -VsMr. Madhan R, No.68/50, Chinna Street, Perumalrajapettai, Vellore, Guruvarajupettai, Tamil Nadu - 631 101. ... Respondent
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Arbitration Original Petition praying that this Hon'ble Court be pleased to appoint Mr.P.Saravanan, as receiver to seize and deliver the vehicle Make - JCB 3DX XTRA, Registered No. TN73AY0355. Chassis No. HAR3DXXTJ02832382, Engine No. H00219787 available at the Respondent's premises or wherever found and permit the receiver, to obtain police aid and to break open the premises.
This Arbitration Application coming on this day before this court for hearing, The Court made the following order:-
Mr.M.Arunachalam, learned counsel on record for applicant who is
before this Court submits that captioned matter has been settled out of Court and requests for leave of this Court to withdraw the captioned matter.
2. Learned counsel has made an endorsement in the case file which reads as follows:
3. The endorsement is reiterated in the hearing.
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4. In the light of the narrative thus far, captioned application is closed
as withdrawn/settled out of Court. There shall be no order as to costs.
Sd./- M.S.J., 13/06/2022
//Certified to be true copy// Dated at Madras this the day of 2022.
COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.
1 issue framed by the court
Whether an arbitration application appointing a receiver to seize a vehicle may be withdrawn upon settlement.
M/s. HDB Financial Services Limited.
Mr. Madhan R
M. Sundar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
