M/S.Cholamandalam Investment And Finance Company Ltd v. Mr.Rupendra Yadu

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 08.09.2020 C O R A M THE HON'BLE MR.JUSTICE N.SATHISH KUMAR Application No.4766 of 2019 M/s.Cholamandalam Investment and Finance Company Limited Dare House, No.2 NSC Bose Road Parrys, Chennai 600 001.

rep. By its Authorised Signatory ... Applicant Vs Mr.Rupendra Yadu, S/o. Bhakwat Yadu, No.80, Yadavpara Nakta, Mandir Hasod, Raipur, Chhattisgarh-492 101.

... Respondent PRAYER : Application filed under Order XIV Rule 8 of Original Side Rules r/w Section 9(ii) (d) & (e) of the Arbitration and Conciliation Act, 1996, praying to appoint employee of the applicant viz., Mr.Sachin Sharma, Executive Receivable as Receiver to seize and take possession of the vehicle, which is morefully described in the schedule to the Judges Summons, which is lying in the custody of respondent or her 1/4

men, agents, servants from her premises or wherever found with Police aid and break open of premises if necessary.

For Applicant :

Mr.V.Balasubramani For Respondent :

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 09.12.2016, the respondent has availed a sum of Rs.27,00,000/-. As the 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.

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.Sachin Sharma, Executive of the applicant company is 2/4

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.

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.

08.09.2020 rpp 3/4

N.SATHISH KUMAR,J rpp Application No.4766 of 2019 08.09.2020 4/4