IN THE HIGH COURT OF KERALA AT ERNAKULAM
Arb.A.No. 33 of 2008()
1. VASAVAN.M.K, S/O. SANKARA KUPTAN,
... Petitioner
Vs
1. CHOLAMANDALAM INVESTMENT AND
... Respondent
2. STERLING ASSOCIATES,
3. THE REGIONAL TRANSPORT OFFICER,
For Petitioner :SMT.PRABHA R.MENON
For Respondent : No Appearance
The Hon'ble MR. Justice J.B.KOSHY
The Hon'ble MR. Justice K.P.BALACHANDRAN
Dated :26/09/2008
O R D E R
J.B.KOSHY & K.P.BALACHANDRAN, JJ.
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ARB.A.NO.33 OF 2008 ()
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Dated this the 26th day of September, 2008
J U D G M E N T
KOSHY,J.
Appellant/Petitioner took a loan from the 1st respondent
financial institution for purchasing a vehicle under the hire
purchase scheme. There was default in payment of
installments and hence he surrendered the vehicle to the
financier. Arbitration proceedings are pending for
determining the amount due. Meanwhile, appellant filed a
petition before the District Court under Section 9 of the
Arbitration and Conciliation Act, 1996 for not transferring the
documents. The vehicle was already sold by the financial
institution to a third party. In these circumstances, the
District Court refused to grant injunction. We see no ground
to interfere in the above as vehicle was already surrendered to
the financier. It is true that arbitration proceedings are
pending. In the arbitration proceedings, if any relief is
ARB.A.33/08 2
granted to the petitioner, that can be realised by the petitioner
in monetary terms. With the above observations, this appeal
is dismissed.
J.B.KOSHY, JUDGE
K.P.BALACHANDRAN, JUDGE
prp
J.B.KOSHY & K.P.BALACHANDRAN, JJ.
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M.F.A.NO. OF 2006 ()
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J U D G M E N T
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26th September, 2008