Madras High CourtArb Appln/155/2021ordered

M/S Cholamandalam Investment And Finance Company Limited v. Mr.Sanjeev Sharma

2021-09-21Honourable Mr Justice V. Parthiban8 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) TUESDAY, THE 21ST DAY OF SEPTEMBER 2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN Arb.Appln.No.155 of 2021 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.Sanjeev Sharma Arising under Loan Agreement No.XVFPGNV00001867505 Dated 31.12.2016.

M/s. Cholamandalam Investment and Finance Company Limited, No.45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys, Chennai - 600 001.

Represented by its Authorised Signatory ... Applicant Vs.

Mr. Sanjeev Sharma, S/o. Hari Om Sharma, H.No.302 Kha, Near Indra Park, Baligali, Aron, Guna, Madhya Pradesh - 473 101.

... Respondent Application praying that this Hon'ble Court be pleased to appoint employee of the Applicant viz. Mr.Vinay Sharma, Area Legal 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'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 in the presence of Mr.D.Pradeep Kumar Advocate for the Applicant herein, and the Respondent herein not appearing in person or by Advocate and upon reading the Judge's Summons and the affidavit of S.Sivasubramanian, filed herein, it is ordered as follows:- That Mr.Vinay Sharma, Area Legal Manager of the applicant company be and is hereby appointed as the receiver to seize the vehicle morefully setout in the schedule hereunder, 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 take possession of the vehicle from the respondent or his 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 concerned Police Station, within whose jurisdiction the vehicle is found, shall render requisite assistance for this purpose.

4. That the order of appointment 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.155 of 2021 do stand closed. SCHEDULE Wagon R VXI, bearing Engine No. K10BN7845386, Chassis No. MA3EWDE1S00B61512 and Registration No.MP-08-CA-7208 lying at respondent premises or wherever found.

WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 21ST 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.

ED 06/10/2021 Arb. Appln. No.155 of 2021

ORDER

DATED : 21.09.2021 THE HON'BLE MR. JUSTICE V. PARTHIBAN FOR APPROVAL: 07/10/2021 APPROVED ON: 13/10/2021 Copy to:- Mr.Vinay Sharma, Area Legal Manager of the applicant Receiver, M/s. Cholamandalam Investment and Finance Company Limited, No.45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys, Chennai - 600 001.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

M/s. Cholamandalam Investment and Finance Company Limited, No.45, Justice Basheer Ahmed Sayeed Building, IInd Floor, 2nd Line Beach, Moore Street, Parrys, Chennai - 600 001.

Represented by its Authorised Signatory ... Applicant Vs.

Mr. Sanjeev Sharma, S/o. Hari Om Sharma, H.No.302 Kha, Near Indra Park, Baligali, Aron, Guna, Madhya Pradesh - 473 101.

... Respondent Application praying that this Hon'ble Court be pleased to appoint employee of the Applicant viz. Mr.Vinay Sharma, Area Legal Manager,

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.XVFPGNV00001867505 dated 31.12.2016, for a sum of Rs.3,38,000/- to be paid in 55 instalments and the first instalment commenced from 28.12.2016 and the repayments were to run till 28.06.2021. It is stated that as on 10.08.2021, a sum of Rs.1,32,503.94/- is outstanding. In terms of the loan agreement executed by the respondent, the applicant/Finance company is entitled to re-possess 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 his name appeared in the cause list today, there is no appearance by him or anyone on his 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.Vinay Sharma, Area Legal 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 his 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.

21.09.2021 //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.