IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE J.B.KOSHY & THE HONOURABLE MR. JUSTICE K.P.BALACHANDRAN FRIDAY, THE 26TH SEPTEMBER 2008 / 4TH ASWINA 1930 Arb.A.No. 33 of 2008() ---------------------- OP(ARB).98/2006 of DISTRICT COURT, PALAKKAD .................... APPELLANT/PETITIONER: ------------------------------ VASAVAN.M.K, S/O. SANKARA KUPTAN, KIZHAKKUMPURATH HOUSE, THRIPPALAMUNDA, PARASSERI, PALAKKAD TALUK. BY ADV. SMT.PRABHA R.MENON SRI.M.KRISHNAKUMAR RESPONDENTS/RESPONDENTS: -------------------------- 1. CHOLAMANDALAM INVESTMENT AND FINANCE CO. LTD., DARE HOUSE, N0.2, NSC BOSE ROAD, PARRYS, CHENNAI. 2. STERLING ASSOCIATES, FRANCHISE, CHOLAMANDALAM INVESTMENT & FINANCE CO. LTD., 10/615/18, IST FLOOR, GERMAN PLAZA, HPO ROAD, PALAKKAD - 1. 3. THE REGIONAL TRANSPORT OFFICER, R.T.O OFFICE, CIVIL STATION, PALAKKAD. THIS ARBITRATION APPEALS HAVING COME UP FOR ADMISSION ON 26/09/2008, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: J.B.KOSHY & K.P.BALACHANDRAN, JJ. ------------------------------- ARB.A.NO.33 OF 2008 () ----------------------------------- 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. -------------------------------------------------------- M.F.A.NO. OF 2006 () --------------------------------------------------------- J U D G M E N T --------------------------------------------------------- 26th September, 2008