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Madras High CourtA/2372/2020closed

M/S Equitas Small Finance Bank Limited v. Mr.Sarvaj Khan And 2 Others

2021-06-24Honourable Mr Justice N. Sathish Kumar2 pages

Application No.2372 of 2020 Application No.2372 of 2020 N.SATHISH KUMAR, J.

This application has been filed to appoint the employee of the Applicant, viz., Mr.Vijay Kumar Sharma - Branch Receivable Manager, Ajmer Branch, Rajasthan as Receiver to seize the vehicle more particularly described in the Schedule to the Judges Summons wherever stationed in the premises of the respondents or wherever it is found and with whomsoever it is found with powers to break open the premises and grant permission to the Receiver to obtain Police aid from the concerned Police Officer.

2. It is the case of the applicant that as per the loan agreement dated 24.10.2018, the first respondent has availed a sum of Rs.5,45,000/-. As the first respondent 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 respondent, the very right of the applicant will be defeated. https://www.mhc.tn.gov.in/judis/ N.SATHISH KUMAR, J.

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Application No.2372 of 2020 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.Vijay Kumar Sharma - Branch Receivable Manager, Ajmer Branch, Rajasthan 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 respondents or his 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.

7. Accordingly, this application is closed.

24.06.2021 msv Application No.2372 of 2020 https://www.mhc.tn.gov.in/judis/ Page No.2/2