Madras High CourtArb Appln/224/2021ordered

M/S.Tvs Credit Services Limited v. Mr.Aman Singh And Another

2021-11-01Honourable Mr Justice V. Parthiban8 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY, THE 1ST DAY OF NOVEMBER 2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN Arb.Appln. No.224 of 2021 In the matter of Arbitration & Conciliation Act, 1996 and In the matter of Disputes between M/s.TVS Credit Services Limited and Mr.Aman Singh & another Arising under Loan Cum Hypothecation Agreement Dated 22.10.2019 bearing Agreement No.UP3038LN0000369.

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 -Versus1.Mr.Aman Singh , S/o.Sanjay Kumar Singh, Bigahana Ramnagar To Paranipur Road, Bigahani, Ramnagar, Allahabad, Aligarh, Nr.Temple, Uttar Pradesh-212305.

2.Mr.Akash Singh, S/o.Sanjay Kumar Singh, Bigahana Ramnagar To Paranipur Road, Bigahani, Ramnagar, Allahabad, Aligarh, Nr.Temple, Uttar Pradesh-212305.

... Respondents

Arbitration Application praying that this Hon'ble Court be pleased to appoint the employee of the Applicant viz, Mr.Ansar Ahamad Siddiqui, Territory Collection 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 or respondents 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 Shanthi G.K. filed herein, it is ordered as follows:- That Mr.

Ansar Ahamad Siddiqui, Territory Collection Manager, of the applicant's company be and is hereby appointed as the receiver to seize the vehicle morefully set out 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 seize and take possession of the vehicle from the respondents or their 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 respondents by the applicant before the Receiver takes any action on the basis of this order.

5. That the Arb.Appln. No.224 of 2021 do stand closed. SCHEDULE Sonalika DI 740, bearing Engine No. 3100ELI33L386061F3, Chassis No. LZESV387301S3 and registered as UP70CK2460. WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 11TH DAY OF NOVEMBER 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 17/11/2021 Arb.Appln. No.224 of 2021

ORDER

DATED : 01.11.2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN FOR APPROVAL: 18/11/2021 APPROVED ON : 19/11/2021 Copy to:- Mr.Ansar Ahamad Siddiqui, 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

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 -Versus1.Mr.Aman Singh , S/o.Sanjay Kumar Singh, Bigahana Ramnagar To Paranipur Road, Bigahani, Ramnagar, Allahabad, Aligarh, Nr.Temple, Uttar Pradesh-212305.

2.Mr.Akash Singh, S/o.Sanjay Kumar Singh, Bigahana Ramnagar To Paranipur Road, Bigahani, Ramnagar, Allahabad, Aligarh, Nr.Temple, Uttar Pradesh-212305.

... Respondents

Arbitration Application praying that this Hon'ble Court be pleased to appoint the employee of the Applicant viz, Mr.Ansar Ahamad Siddiqui, Territory Collection 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 or respondents 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, 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 respondents availed a vehicle loan from the Applicantcompany and executed a loan agreement No.UP3038LN0000369 dated 22.10.2019, for a sum of Rs.2,03,500/- to be paid in 29 installments and the first installment commenced from 05.12.2019 and the re-payments were to run till 05.04.2022. It is stated that as on 31.08.2021 a sum of Rs.2,37,350/- is outstanding. In terms of the loan agreement executed by the respondents, the applicant/Finance company is entitled to re-possess the vehicle in the event of default committed by the respondents. It is

also submitted that the continued use of the vehicle by the respondents would depreciate its value.

3. The learned counsel for the applicant submitted that service has been completed on the respondents. From the court records, it is seen that the respondents have been served notice and despite their names appeared in the cause list today, there is no appearance by them or anyone on their 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.Ansar Ahamad Siddiqui, 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 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 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 respondents 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.

01.11.2021 //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.