Disposed

M/s Coronation Infrastructure Pvt. Ltd, v. Sundaram Finance Ltd.

Madras HC10 Mar 2022OP/435/2021

Case brief

AI extract

What is this about?

The High Court of Madras nominated a retired judge as sole arbitrator for disputes under Loan Agreements involving Coronation Infrastructure and Sundaram Finance, appointed administrative rules, and reserved costs.

What did the court decide?

Appointment of Hon'ble Mr. Justice T. Ravindran as Sole Arbitrator; stay of proceedings pending arbitration proceedings are to be stayed, rules and fees to be applicable.

M/s Coronation Infrastructure Pvt. Ltd, Vs Sundaram Finance Ltd. — Arbitration | Madras HC (2022)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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(ORDINARY ORIGINAL CIVIL JURISDICTION)

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THURSDAY, THE 10TH DAY OF MARCH 2022

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THE HON'BLE MR. JUSTICE M. SUNDAR

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O.P.No. 435 of 2021

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A.No. 2015 of 2021 and Arb.Appln.No. 29 of 2021

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O.P.No. 435 of 2021 :-

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In the matter of Arbitration and Conciliation Act, 1996

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and

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In the matter of Loan Agreement No.N009300402 / Bharat Benz–3128 dated 22.03.2019.

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M/s.Coronation Infrastructure Pvt. Ltd., The Mira Corporate Suits, E01 & 2, Ishwar Nagar, Sriniwaspuri, South Delhi, New Delhi - 110 065.

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Mr.Ranjit Singh Atwal (M/58 years) S/o.Sh.Surinder Singh Atwal, A - 18, Niti Bagh, Andrewsganj, South Ext - II, Delhi - 110 049, New Delhi.

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Mr.Surinder Singh Atwal, S/o.Late G.S.Atwal, A - 18, Niti Bagh, Andrewsganj, South Ext - II, Delhi - 110 049, New Delhi.

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... Petitioners

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Vs -

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Sundaram Finance Ltd., No.21, Patullos Road, Chennai - 600 002 Rep. by Mr.Sri Krishna, Senior Manager (Legal)

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Mr.K.Balasubramanian (B.A.B.L.), Retired District Judge and Retired Registrar General, High Court, No.52/33A, Jeevan Bhima Nagar (LIC Colony), Anna Nagar West Extension, Chennai - 600 101.

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... Respondents

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Original Petition praying that this Hon'ble Court be pleased to pass an

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order :

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(a) Declaring the mandate of the 2^nd Respondent as the sole arbitrator

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is terminated in respect of the arbitration proceedings between the Petitioners and the 1^st Respondent arising out of Loan Agreement No.N009300402 dated 22.03.2019.

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(b) Directing the Respondents to pay the costs of these proceedings.

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A.No. 2015 of 2021 :-

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In the matter of Arbitration and Conciliation Act, 1996 and

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In the matter of Loan Agreement No : N009300134 / Ford Endeavour dated 21.08.2018.

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M/s.Coronation Infrastructure Pvt. Ltd., The Mira Corporate Suits, E01 & 2, Ishwar Nagar, Sriniwaspuri, South Delhi, New Delhi - 110 065.

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Mr.Ranjit Singh Atwal (M/58 years) S/o.Sh.Surinder Singh Atwal, A - 18, Niti Bagh, Andrewsganj, South Ext - II, Delhi - 110 049, New Delhi.

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Mr.Surinder Singh Atwal, S/o.Late G.S.Atwal, A - 18, Niti Bagh, Andrewsganj, South Ext - II, Delhi - 110 049, New Delhi.

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... Petitioners/Applicants

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Vs -

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Sundaram Finance Ltd., No.21, Patullos Road, Chennai - 600 002 Rep. by Mr.Sri Krishna, Senior Manager (Legal)

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Mr.K.Balasubramanian (B.A.B.L.), Retired District Judge and Retired Registrar General, High Court, No.52/33A, Jeevan Bhima Nagar (LIC Colony), Anna Nagar West Extension, Chennai - 600 101.

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... Respondents/Respondents

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Application praying that this Hon'ble Court be pleased to pass an

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order to stay all further proceedings now pending before the 2nd Respondent in respect of the arbitration proceedings between the Petitioners

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and the 1st Respondent arising out of Loan Agreement No.N009300134/Ford Endevaour pending disposal of the above O.P.

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Arb.Appln.No. 29 of 2021 :-

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In the matter of Arbitration and Conciliation Act, 1996

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and

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In the matter of Arbitration of dispute between – M/s. Sundaram Finance

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Limited – and – M/s.Coronation Infrastructure Pvt. Ltd and Others – Loan Agreement No : N009300134; dated 21.08.2018.

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Sundaram Finance Ltd., No.21, Patullos Road, Chennai - 600 002 Rep. by its Assistant General Manager – Legal, Mr. Aluru Sri Krishna.

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... Applicant/1^st Respondent -Vs-

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M/s.Coronation Infrastructure Pvt. Ltd., The Mira Corporate Suits, E01 & 2, Ishwar Nagar, Sriniwaspuri, South Delhi, New Delhi - 110 065.

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... Respondent / 1^st Petitioner / 1^st Applicant

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Arbitration Application praying that this Hon'ble Court be pleased to appoint Mr. A.N. Kasinath, Manager – ARC, of the applicant having office at Plot No-A/108, Second Floor, Banadev Bhawan, Saheed Nagar, Bhubeneswar – 751007, Odisha as the Receiver to take custody of the vehicle being FORD ENDEAVOUR bearing Chassis No: MAJAXXMRWAJL55480 fitted with Engine No: JL55480 and Registered as OD 02 AY 3011, from the respondent or wherever it is found and deliver it to the applicant with liberty to sell and to permit the advocate commissioner to obtain Police aid and to break open the premises within which the said vehicle are lying.

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This Original Petition along with these applications coming on this day before this court for hearing in the presence of M/s. Deepika Murali, Advocate for the Petitioners in O.P.No.435 of 2021 and the applicants in A.No.2015 of 2021 and the respondent in Arb.Appln.No.29 of 2021, and Mr.R.Uma Shankar, For M/s. Sri and Sankar Associates (Law Firm) Advocates for the Respondents in O.P.No.435 of 2021 and A.No.2015 of 2021 and the applicant in Arb.Appln.No.29 of 2021, and upon reading the Judges Summons and the affidavit of Mr.Aluru Sri Krishna filed in Arb.Appln.No.29 of 2021, and the order dated 08/09/2021 made in A.Nos. 2012 to 2019 of 2021 in O.P.Nos. 424, 435 to 441 of 2021, and

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It is ordered as follows : -

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That the Hon'ble Mr. Justice T. Ravindran (Retd.,), residing at New No.27, Old No.12, 3^rd Avenue, Indira Nagar, Adyar, Chennai – 600 020 (Mob : 9941350926, 9444399700), a former Judge of this Court is nominated as Sole Arbitrator.

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That the Hon'ble Arbitrator appointed herein, be and is hereby requested to enter upon reference, adjudicate qua disputes between the borrowers and Sundaram Finance Ltd., by holding sittings in the Madras High Court Arbitration and Conciliation Centre under the aegis of this Court (MHCAC).

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That Sundaram Finance Ltd.,/the 1^st applicant in O.P.No.435 of

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2021 shall be at liberty to file applications with similar/same prayer/s as in these applications or any other prayer or present the same applications.

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That if such a course is adopted by Sundaram Finance Ltd., Hon'ble Arbitrator appointed herein, shall consider those application/s as application/s made under Section 17 of A and C Act and deal with the same on their own merits and in accordance with law uninfluenced by any view or opinion expressed in this order.

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That the arbitral proceedings shall be held in accordance with the Madras High Court Arbitration Proceedings Rules, 2017.

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That the fees of Hon'ble Arbitrator appointed herein shall be as per Madras High Court Arbitration Centre (MHCAC) (Administrative Cost and Arbitrator's Fees) Rules 2017.

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That there shall be no order as to costs.

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WITNESS THE HON'BLE MR. JUSTICE MUNISHWAR NATH BHANDARI, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 10TH DAY OF MARCH 2022.

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Sd/ASSISTANT REGISTRAR (Comm Cases) //Certified to be true copy// Dated at Madras this the day of 2022.

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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 28.03.2022

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O.P.No. 435 of 2021 and A.No. 2015 of 2021 and Arb.Appln.No. 29 of 2021

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ORDER

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DATED : 10.03.2022

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THE HON'BLE MR. JUSTICE M. SUNDAR

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FOR APPROVAL : 28.03.2022

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APPROVED ON : 30.03.2022

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Copy to :

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The Hon'ble Mr. Justice T.Ravindran, Judge (Retd.,) High Court of Madras, Sole Arbitrator, New No.27, Old No.12, 3^rd Avenue, Indira Nagar, Adyar, Chennai – 600 020. (Mob : 9941350926 , 9444399700)

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The Director,

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Tamil Nadu Mediation and Conciliation Centre, cum - Ex Officio Member, Madras High Court Arbitration Centre, Madras High Court, Chennai – 600 104.

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(With Covering Letter)

M/s Coronation Infrastructure Pvt. Ltd, v. Sundaram Finance Ltd.

Case brief

What is this about?

What did the court decide?

M/s Coronation Infrastructure Pvt. Ltd, v. Sundaram Finance Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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