M/S.Cholamandalam Investment And Finance Co. Ltd. v. Mr.Thankachan K.G.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 21.09.2020 CORAM :

THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR Application No.8039 of 2019 M/s.Cholamandalam Investment and Finance Company Limited, 'Dare House', No.2, N.S.C.Bose Road, Parrys, Chennai - 600 001.

Represented by its Authorised Signatory ...

Applicant versus Thankachan K.G.

S/o.George ...

Respondent Prayer: Application filed under Order XIV Rule 8 of Original Side Rules read with Section 9(ii)(a)(b)(d) & (e) of the Arbitration and Conciliation Act, 1996, to appoint employee of the applicant viz. Mr.Sumesh Joseph, Executive Legal, 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 respondent's men, agents, servants from respondent premises or wherever found with Police aid and break open of premises, if necessary. For Applicant : Mr.D.Pradeep Kumar 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.

1/4

2. It is the case of the applicant that as per the loan agreement dated 28.12.2018, the respondent has availed a sum of Rs.14,90,000/- and he has also made some payments. As the respondent committed default, it is the contention of the respondent 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.Sumesh Joseph, Executive Legal 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.

5. The receiver will be entitled to take possession of the vehicle 2/4

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 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. In the event of any default in payments, the applicant may file a fresh application. 21.09.2020 sri 3/4

N.SATHISH KUMAR, J.

sri Application No.8039 of 2019 21.09.2020 4/4