Arbitration Application No. 570 of 2025 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 07.07.2025 CORAM THE HONOURABLE Mr. JUSTICE ABDUL QUDDHOSE Arbitration Application No. 570 of 2025 M/s.Cholamandalam Investment and Finance Company Limited Registered Office at 'Chola Crest' C54 & 55, Super B-4, Thiru Vi Ka Industrial Estate Guindy, Chennai-600032 Represented by its Authorised Signatory Mr.D.Arjun … Applicant Vs. 1.M/s.Shubhanga Technology Ground Floor No.81, 18th Cross Raghavendra Nagar Thiagalarapalya Main Road Industrial Area Stage 2 Bangalore Urban – 560 058. 2. Sadanand Vigneshwar Hegde 3. Namita Satyanarayan Hegde …Respondents PRAYER: Arbitration Application filed under Order XIV Rule 8 Original Side Rules read with Section 9(ii)(d) & (e) of the Arbitration and Conciliation Act, 1996, praying to pass an order of appointing an https://www.mhc.tn.gov.in/judis Arbitration Application No. 570 of 2025 advocate commissioner to seize and deliver the assets as detailed in schedule hereunder is available at respondent's premises or wherever found and permit the advocate commissioner to obtain police aid and to break open the premises and hand over the same to the applicant. S. No. Asset Manufactu rer No. of Units Invoice Value INR Total Margin INR Total Finance Amount INR 1. LML-Vertical Machining Center Model VML – 50 with Fanuc CNC System Consisting of the following standard accessories Lokesh Machines Ltd. 1 31,27,000/- 6,25,400/- 25,01,600/- 2. Electra 2D Height Master Model Ultima M 450 with Standard scope of supply Electronica EMS 1 2,35,410/- 94,164/- 1,41,246/- 3. Insurance – Machinery Premium Amt 19,819/- 4. Insurance – Life Premium Amt 36,145/- Total 33,62,410/- 7,19,564/- 26,98,810/- For Applicant : Ms.K.Indumathi https://www.mhc.tn.gov.in/judis Arbitration Application No. 570 of 2025 O R D E R Till date the Advocate Commissioner has not repossessed the vehicles /equipments. No useful purpose would be served, if this application is allowed to be kept pending. 2. Therefore, the learned counsel for the applicant seeks liberty for the applicant to file a fresh application seeking for the very same relief whenever the vehicles /equipments are located. 3.Accordingly, this application is closed. However, liberty is granted to the applicant to file fresh applications seeking for appointment of an Advocate Commissioner once the vehicles /equipments are located. While considering such fresh application, this Court shall consider retaining the very same Advocate Commissioner, who was appointed in this application, since the applicant has already paid the initial remuneration to the Advocate Commissioner in this application. 07.07.2025 Index: Yes/ No Speaking order / Non speaking order Neutral citation : Yes / No Maya https://www.mhc.tn.gov.in/judis Arbitration Application No. 570 of 2025 ABDUL QUDDHOSE, J. Maya Arbitration Application No. 570 of 2025 Dated : 07.07.2025 https://www.mhc.tn.gov.in/judis