Tata Motors Finance Limited v. Rajaram Gurjar

Digitally signed by MUGDHA MANOJ PARANJAPE Date:

2024.10.09 10:28:05 +0530 MUGDHA MANOJ PARANJAPE 1 20-CARBP 301-24.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMMERCIAL ARBITRATION PETITION NO.301 OF 2024 Tata Motors Finance Limited ... Petitioner V/s.

Rajaram Gurjar & Anr.

... Respondents ----- Mr Gaurav Jangle a/w Akshita Jain i/by I. V. Merchant & Company for the Petitioner.

----- CORAM :

ARIF S. DOCTOR, J.

DATE :

8TH OCTOBER 2024 P.C. :

1.

The captioned Commercial Arbitration Petition is filed under Section 9 of the Arbitration and Conciliation Act, 1996 and arises out of 5 TMFL Loan cum Hypothecation cum Guarantee Agreements entered into between the Petitioner and the Respondents. Learned Counsel appearing on behalf of the Petitioner has invited my attention to one of the said Agreements. He submits that the Agreements are identical in terms, all of which contained a clause for clubbing the said Agreements together in the case of defaults. He submits that it is pursuant to this clause that the 5 Agreements have thus been clubbed

2 20-CARBP 301-24.doc together, one of which has been terminated after filing of this Petition and therefore, the Petition pertains only to 4 Agreements. The Learned Counsel then submits that the Respondents made defaults under which the Petitioner constrained to issue the Respondents a Loan Recall cum Invocation Notices dated 20 th June 2024 and 5 th July 2024. He has also invited my attention to the Arbitration Clause contained in the said Agreements. The Respondents are also duly served. He places reliance upon an Affidavit of Service to prove service upon Respondents, which is taken on record.

3 20-CARBP 301-24.doc e) pending the hearing and final disposal of the arbitration and until final execution of the Arbitral Award, this Hon'ble Court be pleased to direct the Respondents to disclose the current and exact detailed location of the hypothecated vehicles on oath and to handover peaceful possession of the Hypothecated Vehicles to the Court Receiver, High Court, Bombay or any fit and proper person, at the predesignated place as may be fixed by this Hon'ble Court, with normal wear and tear at the cost and expenses of the Respondents as per the said Agreements;"

2.

After having heard the Learned Counsel for the Petitioner and perusing myself the record, I find from what is placed before me, prima facie appears that the Respondents have committed default under the said Loan cum Hypothecation cum Guarantee Agreements. Hence, the default clause under the said Agreements has been triggered. The Respondents though served, not appeared to oppose the present Petition. Hence, I find that the Petitioner has made out a case for the grant of an interim relief in terms of prayer clauses (a) and (e), already reproduced above.

3.

List the matter on 26 th November 2024 for hearing.

(ARIF S. DOCTOR, J.)