M/S.Cholamandalam Investment v. Mr.Sheikh Shahnawaz

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) FRIDAY, THE 30th DAY OF NOVEMBER 2018 THE HON'BLE MR. JUSTICE M.GOVINDARAJ A. No.4533 of 2018 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.Sheikh Shahnawaz Arising under Loan Agreement No.XVFPNGR00001800655 Dated:14.10.2016.

M/s.Cholamandalam Investment and Finance Company Limited 'Dare House', No.2, N.S.C.Bose Road Parrys Chennai 600 001.

Rep.by its Authorised Signatory ...Applicant -VsMr.Sheikh Shahnawaz S/o.Haji Sheikh Rashid F/557, Old Bhoipura Near Madarsa Kamptee, Dist Nagpur Maharashtra - 441 002.

...Respondent

Application praying that this Hon'ble Court be pleased to appoint employee of the Applicant viz. Mr.Mathew Abraham, Area Business 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 the court made the following order: By order dated 23.08.2018, this Court appointed Mr.Mathew Abraham, Area Business Manager, as Receiver to seize and take possession of the subject vehicle in question.

2.Pursuant to the order passed by this Court, it is now represented by the learned counsel appearing for the applicant that the vehicle has been repossessed by the applicant and arbitration proceedings have been initiated and the same is pending. Till completion of the arbitration proceedings, they will not alienate the vehicle. The said statement is recorded.

3. Though the respondent has been served and his name appears in the cause list, none appears on his behalf.

4. In view of the above, nothing survives for further adjudication in this application and the same stands closed. Both the applicant as well as the respondent are entitled to take such further action, as they may desire, in accordance with law. Sd/- M.G.R.J.

30.11.2018 //Certified to be a true copy// Dated this the day of 2018. DL/04.12.2018 COURT OFFICER From 25.09.2008 the Registry is issuing certified

copies of the Order/Judgment Decree in this format.