Madras High CourtArb Appln/140/2021closed

M/S.Tvs Credit Services Limited v. Mrs.Urmila Devi

2021-09-13Honourable Mr Justice V. Parthiban8 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY, THE 13TH DAY OF SEPTEMBER 2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN Arb.Appln. No.140 of 2021 In the matter of Arbitration & Conciliation Act, 1996 and In the matter of Disputes between M/s. TVS Credit Services Limited and Mrs. Urmila Devi Arising under Loan Cum Hypothecation Agreement Dated 30.06.2018 bearing Agreement No.

UP3071LN0000159.

M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai - 600 006.

Represented by its Authorised Signatory ... Applicant Vs.

Mrs. Urmila Devi, W/o. Raj Baksha Dubey, Village Khandasa, Post Khandasa, Milkipur, Faizabad, Fatehpur, Nr. Khandasa Bajar, Kotiya B.O., Uttar Pradesh - 224153.

... Respondent Application praying that this Hon'ble Court be pleased to appoint the employee of the Applicant viz. Mr.Vijay Kumar Yadav, Territory

Collection Manager as Receiver to seize and take possession of the vehicle which is morefully described in the schedule to the Judges summon which is lying in the custody of the respondent or respondent's men, agents, servants from respondent premises or wherever found with police aid and break open the premises if necessary. This application coming on this day before this court for hearing through video conferencing in the presence of Mr.D. Pradeep Kumar, Advocate for the Applicant herein, and upon reading the Judge's Summons and the affidavit of Mrs. Shanthi G.K. filed herein, it is ordered as follows:- That Mr.Vijay Kumar Yadav, Territory Collection Manager, of the applicant's company be and is hereby appointed as the receiver to seize the vehicle covered under the contract and this order shall operate only for a period of six (6) 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 be entitled to seize and take possession of the vehicle from the respondent or her agents or any one in possession thereof.

3. That if necessary the Receiver appointed herein, shall get police assistance and the Station House Officer of the Police Station concerned, within whose jurisdiction the vehicle is found, shall 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 Arb.Appln. No.140 of 2021 do stand closed. SCHEDULE MF 7250 136 RT DC OIB, bearing Engine No. S325D22952, Chassis No. 642305 and registered as UP42AA0503. WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 13TH DAY OF SEPTEMBER 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 20/09/2021 Arb.Appln. No.140 of 2021

ORDER

DATED : 13.09.2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN FOR APPROVAL: 23/09/2021 APPROVED ON: 23/09/2021 Copy to:- Mr.Vijay Kumar Yadav, Territory Collection Manager Receiver, M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai - 600 006.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

UP3071LN0000159.

M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai - 600 006.

Represented by its Authorised Signatory ... Applicant Vs.

Mrs. Urmila Devi, W/o. Raj Baksha Dubey, Village Khandasa, Post Khandasa, Milkipur, Faizabad, Fatehpur, Nr. Khandasa Bajar, Kotiya B.O., Uttar Pradesh - 224153.

... Respondent Application praying that this Hon'ble Court be pleased to appoint

the employee of the Applicant viz. Mr.Vijay Kumar Yadav, Territory Collection Manager as Receiver to seize and take possession of the vehicle which is morefully described in the schedule to the Judges summon which is lying in the custody of the respondent or respondent's men, agents, servants from respondent premises or wherever found with police aid and break open the premises if necessary. This Application coming on this day before this court for hearing, the court made the following order:- This application has been filed for an interim measure of appointing a receiver to seize the vehicle.

2. The respondent availed a vehicle loan from the Applicantcompany and executed a loan agreement No.UP3071LN0000159 dated 30.06.2018, for a sum of Rs.1,95,174/- to be paid in 30 instalments and the first instalment commenced from 05.08.2018 and the re-payments were to run till 05.01.2021. It is stated that as on 26.07.2021, a sum of Rs.59,452.16/- is outstanding. In terms of the loan agreement executed by the respondent, the applicant/Finance company is entitled to repossess the vehicle in the event of default committed by the respondent. It is also submitted that the continued use of the vehicle by the respondent would depreciate its value.

3. The learned counsel for the applicant submitted that service has been completed on the respondent. From the court records, it is seen that the respondent has been served notice and despite her name appeared in the cause list today, there is no appearance by her or anyone on her behalf.

4. In the above circumstances, in consideration of the pleadings and the materials placed on record, this Court is convinced that the applicant has made out a prima facie case and balance of convenience is in favour of the applicant. Therefore, the named receiver in the application Mr.Vijay Kumar Yadav-Territory Collection 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 six 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 seize and take possession of the vehicle from the respondent or her agents or any one in possession thereof. If necessary, the Receiver shall get police assistance and the Station House Officer of the Police Station concerned, 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./-V.P.N.J.

13.09.2021 //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.