Allowed

J.Sree Devi v. Sundaram Finance Limited and 2 Others

Madras HC18 Jul 2023Arb Appln/265/2023

Case brief

AI extract

What is this about?

An application filed by a third party to lift the attachment of a property attached in a prior arbitration proceeding. The Court allowed the application since the third party's non-ownership of the property was admitted by the Financial Institution.

What did the court decide?

The attachment ordered in A.No.213 of 2012 dated 26.02.2015 on the property owned by the applicant shall be released.

J.Sree Devi Vs Sundaram Finance Limited and 2 Others — Execution and Attachment | Madras HC (2023)

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Arb.Appln.No.265 of 2023 in

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A.No.213 of 2012

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R.N.MANJULA,J.

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This application has been filed by the third party to raise the order of attachment passed by this Court in A.No.213 of 2012 dated 26.02.2015.

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The applicant / third party claims to be the owner of the petition mentioned property at Plot No.97, Block No.6, LIG - II type, Dr.Puratchi Thalaivi J.Jayalalitha Nagar West Scheme, Chennai 600 037, comprised in Survey No.494 pt, Mugappair Village, Arumbakkam Taluk, Tiruvallur Distrit to an extent of 1050 Sq.ft.

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As per the submission of the learned counsel for the applicant / third party, the third party applicant had applied housing loan to purchase a house property and the said loan has been pre-closed on 20.12.2022. The said property was purchased by the applicant by virtue of a sale deed dated 30.11.2011. She came to know from the Encumbrance Certificate that the property has been attached in view of the application filed by the first respondent in connection with some other

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Page No.1 of 3

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

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proceedings.

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The first respondent is the Financial Institution and it had lent a loan to the respondents 2 and 3. On the allegation that the property has been offered as a security for the loan availed by them, the property was attached for non payment of the said loan. Since the property belonged to the third party who is the applicant herein, the third party has filed this application to raise the attachment.

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The facts pleaded by the third party is not disputed by the first respondent / Financial Institution. Hence, this Application is allowed and the attachment as ordered in A.No.213 of 2012 dated 26.02.2015 shall be raised.

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18.07.2023

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gsk

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NOTE : The Registry is directed to communicate this order to the concerned Registrar.

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Arb.Appln.No.265 of 2023 in

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Page No.2 of 3

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

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A.No.213 of 2012

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Page No.3 of 3

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

J.Sree Devi v. Sundaram Finance Limited and 2 Others

Case brief

What is this about?

What did the court decide?

J.Sree Devi v. Sundaram Finance Limited and 2 Others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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Case details

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