Madras High CourtA/1553/2021closed

M/S.Cholamandalam Investment And Finance Co.,Ltd v. Mr.Satabhai Nagajibhai Saraiya

2021-06-17Honourable Mr Justice N. Sathish Kumar7 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) THURSDAY, THE 17TH DAY OF JUNE 2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR A. No.1553 of 2021 In the matter of Arbitration & Conciliation Act, 1996 and In the matter of Disputes between M/s. Cholamandalam Investment and Finance Company Ltd. and Mr.Satabhai Nagajibhai Saraiya Arising under Loan Agreement No.

XSHUCIL00002317875 Dated 13.03.2018.

M/s.Cholamandalam Investment and Finance Company Limited, No. 45, Justice Basheer Ahmed Sayeed Building, II Floor, 2nd Line Beach, Moore Street, Parrys, Chennai-600 001.

Represented by its Authorised Signatory ... Applicant -VersusMr.Satabhai Nagajibhai Saraiya S/o. Nagajibhai Saraiya, AT Rajavad, TA Chotila, Surendra Nagar, Near Rajavad, Gujarat - 363520.

... Respondent Application praying that this Hon'ble Court be pleased to appoint the employee of the Applicant viz, Mr.Makwana Mehulkumar Hasubhai, Branch Receivables Manager, as Receiver to seize and take possession

of the Vehicle which is more fully described in the schedule to the Judges Summons which is lying in the custody of respondent or respondent's men, agents, servants, from respondent premises or wherever found with Police aid and break open of premises if necessary. This application coming on this day before this court for hearing in the presence of Mr.D. Pradeep Kumar, Advocate for the Applicant herein, and the Respondent herein not appearing in person or by advocate and upon reading the Judge's Summons and the affidavit of Mr.S.Sivasubramanian filed herein, it is ordered as follows:- That Mr.Makwana Mehulkumar Hasubhai, Branch Receivables Manager, of the petitioner bank is appointed as a receiver to seize the vehicle covered under the contract and Order shall operate only for a period of three (3) weeks from the date of receipt of a copy of this Order and thereafter, this Order shall stand automatically cancelled.

2. That the receiver appointed herein shall take possession of the vehicle from the respondent or their agents or any one in possession thereof.

3. That the Receiver appointed herein, shall get police assistance and the Station House Officer of the concerned Police Station, within whose jurisdiction the vehicle is found, will render requisite assistance for this purpose.

4. That the order appointing the Receiver shall be served on the respondent by the applicant before the Receiver takes any action on the basis of this order.

5.That the A. No.1553 of 2021 do stand closed. SCHEDULE Tata 2518 LPK, bearing Engine No. 74791, Chassis No. 10840 and Registration No. GJ-06-XX-9957.

WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 17TH DAY OF JUNE 2021.

Sd/- ASSISTANT REGISTRAR (Comm. Cases) //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

EVK 24/06/2021 A. No.1553 of 2021

ORDER

DATED : 17.06.2021 THE HON'BLE MR. JUSTICE N.SATHISH KUMAR FOR APPROVAL: 14/07/2021 APPROVED ON: 18/07/2021 Copy to:- Mr.Makwana Mehulkumar Hasubhai, Branch Receivables Manager Receiver M/s.Cholamandalam Investment and Finance Company Limited, No. 45, Justice Basheer Ahmed Sayeed Building, II Floor, 2nd Line Beach, Moore Street, Parrys, Chennai-600 001.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

XSHUCIL00002317875 Dated 13.03.2018.

M/s.Cholamandalam Investment and Finance Company Limited, No. 45, Justice Basheer Ahmed Sayeed Building, II Floor, 2nd Line Beach, Moore Street, Parrys, Chennai-600 001.

Represented by its Authorised Signatory ... Applicant -VersusMr.Satabhai Nagajibhai Saraiya S/o. Nagajibhai Saraiya, AT Rajavad, TA Chotila, Surendra Nagar, Near Rajavad, Gujarat - 363520.

2. It is the case of the applicant that as per the loan agreement dated 13.03.2018, the respondent has availed a sum of Rs.8,61,169/-. As the respondent committed default, it is the contention of the respondent that unless a receiver is appointed to take charge of the vehicle, there will be irreparable injury and the vehicle will be sold by the other side. Hence, it is prayed for appointment of a receiver.

3. In such view of the matter, if the vehicle is allowed to be sold by the respondent, the very right of the applicant will be defeated.

4. Taking into consideration that the applicant has made out a prima facie case and balance of convenience is in favour of the applicant, Mr.Makwana Mehulkumar Hasubhai, Branch Receivables Manager of the applicant company is appointed as a receiver to seize the vehicle covered under the contract. This Order shall operate only for a period of

three weeks from the date of receipt of a copy of this Order and thereafter, this Order shall stand automatically cancelled.

5. The receiver will be entitled to take possession of the vehicle from the respondent or their agents or any one in possession thereof. If necessary, the Receiver shall get police assistance and the Station House Officer of the concerned Police Station, within whose jurisdiction the vehicle is found, will render requisite assistance for this purpose.

6. This Order of appointment shall be served on the respondent by the applicant before the receiver takes any action on the basis of this Order.

7. Accordingly, this application is closed.

Sd./-N.S.K.J.

17.06.2021 //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.