Arb Appln No. 764 of 2025 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 01-09-2025 CORAM THE HONOURABLE MR JUSTICE N. ANAND VENKATESH Arb Appln No. 764 of 2025 1. M/s Kotak Mahindra Prime Ltd., 6th Floor, Samson Towers, A-Wing, 402 L, Pantheon Road, Egmore-600 008. rep. By its Authorized representative Mr.Santhosh Kumar(Deputy Manager), Applicant(s) Vs 1. Vishnukumar. S, No.137, Surya Nagar, Karugampalayam, Palladam, Ichipatti, Tirupur -641 668, Tamil Nadu, India. Respondent(s) PRAYER This Application has been filed to direct the respondent to furnish security for a sum of Rs.8,16,908.34/- being the claim of the applicant arising under the Agreement dated 26.02.2023 against the respondent, within such time as this 1 https://www.mhc.tn.gov.in/judis Arb Appln No. 764 of 2025 Honble Court may stipulate and in case of default thereof to order attachment before Judgement of the immovable property of the 1st respondent morefully described in the Schedule to the Judges Summons and the copy of the order to be send to the District Court, Coimbatore. For Appellant(s): M/S.Rajeni Ramadass For Respondent(s): No appearance ORDER This Application has been filed for a direction to the respondents to furnish security for a sum of Rs.8,16,908.34/- being the claim of the applicant arising under the agreement dated 26.02.2023 and in case of default, to order attachment before Judgement of the immovable property of the respondent. 2.The respondent has been served with notice and the name of the respondent has also been printed in the cause list and there is no appearance either in person or through their counsel. 3.The respondent availed vehicle loan from the applicant and they entered into a loan agreement dated 26.02.2023. As per the loan agreement, the total 2 https://www.mhc.tn.gov.in/judis Arb Appln No. 764 of 2025 loan of Rs.15,76,522/- was repayable by the respondent in 39 months i.e., from 05.04.2023 to 05.06.2026. The respondent committed default in repayment of the loan amount and also did not surrender the vehicle. In view of the same, the applicant initiated arbitration proceedings in-line with Clause 31 of the loan agreement. In the meanwhile, the present application was filed seeking for a direction to the respondents to furnish security and in default, order for attachment before the judgment. 4.When the matter is taken up for hearing today, the learned counsel for the applicant submitted that award was also passed on 17.07.2025, when the application was pending. 5.Taking into consideration the facts and circumstances of the case, and considering the fact that the respondent has not even chosen to contest this application and the award has been passed by the arbitrator dated 17.07.2025, the schedule property shall stand attached. 3 https://www.mhc.tn.gov.in/judis Arb Appln No. 764 of 2025 6.This application is disposed of, with the above direction. 01-09-2025 dn Index:Yes/No Speaking/Non-speaking order Internet:Yes Neutral Citation:Yes/No 4 https://www.mhc.tn.gov.in/judis Arb Appln No. 764 of 2025 To 1.Vishnukumar S No.137, Surya Nagar, Karugampalayam, Palladam, Ichipatti, Tirupur- 641 668, Tamil Nadu, India. 5 https://www.mhc.tn.gov.in/judis Arb Appln No. 764 of 2025 N.ANAND VENKATESH, J. dn Arb Appln No.764 of 2025 01-09-2025 6 https://www.mhc.tn.gov.in/judis