M/S.Mercedes Benz Financial Service India Pvt Ltd v. Sachin Popat Achare

Arb Appln.No.195 of 2023 KRISHNAN RAMASAMY, J., This application has been filed seeking for a direction to appoint an Advocate Commissioner to seize and deliver the vehicle morefully described in the schedule to the Judges summons to the applicant. 2.The learned counsel appearing for the applicant would submit that the applicant provided loan to the respondent for purchase of the Motor Car (LMV). Thereupon, the respondent has entered into Loan Agreement dated 28.02.2022 with the applicant. The brief details in nutshell are as follows:

S.No.

Particulars Remarks 1.

Name of the lender The applicant 2.

Name of the borrower Sachin Popat Achare 3.

Name of the Guarantor - 4.

Date of Loan Agreement 28.02.2022 5.

Loan Amount Rs.36,00,000/- 6.

No.of instalments 48 monthly installments 7.

First instalment 040422 8.

Last instalment 040326 1/6

S.No.

Particulars Remarks 9.

Sofar instalments paid 9 installments 10.

Notice 030223 11.

Reply to the notice No 12.

Rate of interest 7.8319% p.a.

13.

Amount claimed Rs.34,46,283.26 14.

Arbitration proceedings initiated Applicant undertakes to initiate arbitral proceedings within 90 days 3.The learned counsel for the applicant further submits that the respondent, having availed the loan, failed to repay the same and committed default from 10th instalment onwards. She would submit that the hypothecated vehicle is a movable asset and if it is kept in idle condition, it would get damaged and its value also gets deteriorated and hence she would urge this Court to appoint an Advocate Commissioner to seize and handover the vehicle to the applicant bank morefully described in the schedule to the Judges summons available at the respondent's premises, in order to make the security effective and the money in dispute in arbitration is fully secured by way of sale of the vehicle in public auction after following due process of law. 2/6

4.Upon considering the facts and circumstances of the case and the submissions made by the learned counsel for the applicant, this Court is satisfied that the applicant has made out a case in its favour and accordingly, Ms.A.Shanmukasundari, Advocate, Office at No.206 Addl. Law Chamber High Court, High Court, Chennai -104 and contact Mobile No.9952730320 and Enrollment No.1834/2009, is appointed as the Advocate Commissioner to seize the vehicle, viz., Motor Car (LMV), bearing No.MH50T6677, Model - A 200 LIMOUSINE lying at the respondent's premises or wherever found and hand over the same to the custody of the applicant. She shall be paid a remuneration of a sum of Rs.30,000/- (Rupees Thirty Thousand Only), within a week from the date of receipt of communication from the Advocate Commissioner. The expenses toward her travel and stay shall be defrayed by the applicant.

5.It is hereby made clear that if police help is required, the Advocate Commissioner shall make a request to the local police station 3/6

within whose jurisdiction the vehicle is found and on such request being made, the Station House Officer shall send the Police Personnel along with the Advocate Commissioner to seize the vehicle. If breaking open of a lock is required, the Advocate Commissioner shall do so in the presence of the police personnel who will counter-sign the record evidencing the breaking open of the lock and re-locking of the premises. After seizure, the vehicle is to be handed over to the applicant or to their representative, after taking inventories. It is made clear that after seizure of the vehicle, the applicant shall not sell away the vehicle without permission of this Court.

6.Accordingly, this Application is disposed of. 7.List the matter on 15.06.2023 for filing report of the Advocate Commissioner.

13.04.2023 rst 4/6

5/6

KRISHNAN RAMASAMY, J., rst Arb Appln.No.195 of 2023 13.04.2023 6/6