Tata Motor Finance Limited v. Mahaveer Sheety

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION Digitally signed by SHRADDHA KAMLESH TALEKAR Date:

2025.01.30 21:51:27 +0530 COMMERCIAL ARBITRATION PETITION NO. 866 OF 2024 SHRADDHA KAMLESH TALEKAR TATA MOTORS FINANCE LTD. ....Petitioner

Versus

MAHAVEER SHETTY ....Respondent Ms. Sheetal Prakash, a/w Abhiishek Bhaduri, Abayjeet Khairwar and Arif Ansari, i/b Ravi Goenka, for Petitioner.

None for Respondent.

CORAM : SOMASEKHAR SUNDARESAN, J.

Date : January 16, 2025 P. C.

1.

This is a Petition under Section 9 of the Arbitration and Conciliation Act, 1996 ("the Act") seeking interlocutory protective reliefs in connection with disputes and differences relating to an agreement containing an arbitration clause, which is annexed at Exhibit 'B' to the Petition. The commercial vehicles financed pursuant to the agreement are listed at Exhibit 'C' to the Petition. Clause 21 of the agreement contains the arbitration clause, which, in the interest of brevity, is not extracted herein. The agreement contains an explicit clause for re-possession of the vehicles.

2.

The Respondent committed a default in servicing the loan on July 31, 2024. It is seen from the record that defaults occurred under the agreement and the demand notice was issued on September 4, 2024. A vehicle inspection notice dated August 31, 2024 was also issued. Learned Counsel for the Petitioner submits that the amount due under the agreement, as claimed by the Petitioner from the Respondent, is to the tune of Rs. 2,91,28,908.07. It is seen from the record that this Petition has been served on the Respondent but the Respondent has not entered appearance. 3.

Learned Counsel for the Petitioner submits that there is an evident default, and despite issuance of a demand notice and a vehicle inspection notice, there is no sighting of the vehicles financed (the subject property relating to the arbitration). She submits that the vehicles run the risk of getting lost or dissipated, rendering the arbitration infructuous. Consequently, she seeks urgent interlocutory relief. 4.

Since despite notice, the Respondent has not appeared and has not replied to the notices issued by the Petitioner, it would be appropriate to issue ad-interim relief in terms of prayer clause (j), as moulded below: (The Petitioner is hereby entitled to take possession and to deal with the said movable property which is more particularly described in the

schedule which is marked and annexed as "Exhibit -C " to the present Petition with further direction in favour of the Petitioner to seek assistance of the police by approaching concerned police station upon payment of necessary charges for seeking police assistance for taking charge of the said property more particularly described in the schedule which is marked and annexed as "Exhibit -C" to the present Petition. 5.

It is made clear that should the Respondent be desirable of varying, altering or vacating the ad-interim relief granted hereby, the Respondent may appear on the next date and present his say.

6.

With the aforesaid directions, this Petition is stood over to March 30, 2025.

7.

All actions required to be taken pursuant to this order, shall be taken upon receipt of a downloaded copy as available on this Court's website. [ SOMASEKHAR SUNDARESAN, J.]