M/S.Mahaveer Finance India Limited v. Mr.C.N.Rajadurai And Another

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATE: 02.09.2020

CORAM

THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR A.No.4533 of 2019 M/s. Mahaveer Finance India Limited, rep. by its Authorised Signatory, K.G.Plaza, 41-44, 3 rd Floor, General Patters Road, Chennai-600 002.

... Applicant Vs.

1. Mr.C.N.Rajadurai

2. Mr.S.karthikeyan ... Respondents PRAYER : Application filed under Order XIV Rule 8 of Original Side Rules r/w Section 9(ii) (a), (b), (c ), (d) & (e) of the Arbitration and Conciliation Act, 1996, praying to pass an order of appointment of Mr.S.Muthupattaraja, Manager, (Legal), Chennai of the applicant as Receiver to seize the vehicle more particularly described in the schedule to the Judges Summons wherever stationed in the premises of the respondent or wherever it Page 1/5

is found and with whomsoever it is found with powers to break down the premises and grant permission to the receiver to obtain police aid from the concerned police officer.

For Applicant :

Mr.N.Balaji For Respondents :

No appearance

O R D E R

This application has been filed for interim measure for appointing a receiver to seize the vehicle.

2. It is the case of the applicant that as per the loan agreement dated 26.03.2018, the respondent has availed a sum of Rs.10,00,000/-. 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.

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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.

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.S.Muthupattaraja, Manager (Legal), Chennai 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 respondent 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. Page 3/5

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.

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N.SATHISH KUMAR, J.

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