Daimler Financial Services v. Material Handling Services

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 30/7/2020 C O R A M THE HON'BLE MR.JUSTICE N.SATHISH KUMAR Application No.4570 of 2018 Daimler Financial Services India Pvt Ltd rep. By its Legal Executive Mr.K.Ramakrishna.

...

Applicant Vs

1. Material Handling Services (Borrower) 281 OTC Scheme Rani Road Ambamata Udaipur Udaipur 313 001 Rajasthan.

2. Deepak Sharma (Guarantor) 281 OTC Scheme Rani Road Ambamata Udaipur Udaipur 313 001 Rajasthan.

...

Respondents Application filed under Order XIV Rule 8 of Original Side Rules, r/w. Section 9 (ii) (e) of the Arbitration and Conciliation Act, 1996. For applicant ...

Mr.H.Mohamed Ismail

- - - - - -

O R D E R

Instant application has been filed to appoint Mr.Ajit Singh, S/o. Sishpal Singh, Authorised Agent of the applicant as a Receiver to seize and take possession of the subject schedule vehicle more fully described in the Schedule of the Judge's Summons from the premises of the respondents or wherever found with Police aid and break open of premises, if necessary.

2. It is the case of the applicant that as per the loan agreement dated 29/4/2016, the respondents had availed a sum of Rs.33,50,475/-. As the respondents committed default, it is the contention of the applicant 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 respondents, 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.Ajit Singh, S/o. Sishpal Singh, Authorised Agent 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 six weeks from the date of receipt of a copy of this Order.

5. The receiver will be entitled to take possession of the vehicle from the respondents 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 respondents by the applicant before the receiver takes any action on the basis of this Order.

N.SATHISH KUMAR,J mvs.

7. Accordingly, this application is closed.

30/7/2020 mvs.

Application No.4570 of 2018