Arb.Appln.No.862 of 2024 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 13.12.2024 CORAM THE HONOURABLE MR.JUSTICE P.B.BALAJI Arb. Appln. No.862 of 2024 TATA CAPITAL LTD, By its Legal Manager, D.Kalaiarasan, Having its office at l®t Floor, Centennial Square, 6A - Dr Ambedkar Salai, Kodambakkam , Chennai - 600 024 ... Petitioner vs. GINEESH VIJAYAN ... Respondent PRAYER: This Arbitration Application filed under ORDER XIV RULE 8 OF O.S. RULES READ WITH SEC 9 (II) (b), (d) & (e) OF ARBITRATION ACT 1996, the petitioner prays for appointing Mr.Athin Roy, Employee Code 394242, currently designated as Legal Officer in the Applicant having his office 1st Floor, Puthuran Plaza, KPCC Junction, M.Q Road Cochin, Kerala, 682 011 as Receiver to seize and deliver the asset BOBCAT B900 BACKHOE LOADER bearing Engine No NFHM111373, Chassis No DBIB55ZGVN0012520 registered as KL17X2390, situated at Mundackal Kalloorkkad Near Punchayath Office, Emakulam - 686668 or wherever it is found more fully described hereunder, with police aide or break open the premises from wherever 1/5 https://www.mhc.tn.gov.in/judis Arb.Appln.No.862 of 2024 found and hand over the same to the applicant. For Petitioner : Mr.N.K.Vanan ********** ORDER This application has been filed seeking appointment of Receiver viz., Mr.Athin Roy, Employee Code 394242, currently designated as Legal Officer in the Applicant having his office 1st Floor, Puthuran Plaza, KPCC Junction, M.Q Road Cochin, Kerala, 682 011 as Receiver to seize and deliver the asset, BOBCAT B900 BACKHOE LOADER bearing Engine No NFHM111373, Chassis No DBIB55ZGVN0012520 registered as KL17X2390, situated at Mundackal Kalloorkkad Near Panchayath Office, Ernakulam – 686 668 or wherever it is found more fully described hereunder, with police aide or break open the premises from wherever found and hand over the same to the applicant. 2. Heard Mr.N.K.Vanan, learned counsel for the Applicant. 3. The learned counsel appearing for the applicant would submit that the applicant had provided a loan to the respondent for purchase of the aforesaid asset and a Loan Agreement had also been entered by the respondent with the applicant on 15.11.2022. He would contend that the respondent was irregular in making the payment of instalments and that inspite of repeated demand, the respondent had failed to regularize the 2/5 https://www.mhc.tn.gov.in/judis Arb.Appln.No.862 of 2024 default and had continued not to pay the EMIs. There is an Arbitration Clause available in the loan agreement, which is the subject matter of dispute. The applicant has expressed its willingness to go for Arbitration in accordance with the Arbitration Clause. 4. He would further submit that considering the value of the amount to be recovered from the respondent, the applicant had sought for an appointment of a Party Receiver which would minimize the expenditure to the applicant and the respondent would also be benefited. 5. Upon considering the facts and circumstances of the case and the submissions made by the learned counsel for the applicant, this Court is satisfied with the prayer sought for in this Application. 6. Accordingly, this Application is ordered with the following directions: (i) Mr.Athin Roy, Employee Code 394242, Legal Officer of the Applicant, currently designated as Legal Officer in the Applicant company having his office at 1st Floor, Puthuran Plaza, KPCC Junction, M.G.Road, Cochin, Kerala, 682 011, is appointed as Receiver to seize and take possession of the asset viz., BOBCAT B900 BACKHOE LOADER bearing Engine No NFHM111373, Chassis No DBIB55ZGVN0012520 registered as KL17X2390, with all accessories fitted to the machinery from the respondent, or any place belonging to the 3/5 https://www.mhc.tn.gov.in/judis Arb.Appln.No.862 of 2024 respondent, or wherever found and with whomsoever it is found. Registry is directed to hand over the order to the learned counsel for the Applicant. (ii) It is also made clear that if any police help is required, the Party Receiver shall make a request to the local police station within whose jurisdiction the asset is found and on such request being made, the Station House Officer shall send the Police Personnel along with the Party Receiver to seize the asset. (iii) If break open of a lock is required the Party Receiver shall do so in the presence of the police personnel who will counter sign the record evidencing the break open of the lock and to re-lock the premises. (iv) If the Party Receiver finds any difficulty with the jurisdictional police, he is at liberty to approach Superintendent of Police, who shall provide all necessary assistance to him at the time of seizure of the said asset. 7. Notice to the respondent returnable by 27.01.2025. Private Notice is also permitted. 8. Post the matter on 27.01.2025 for filing report of the Party Receiver. 13.12.2024 rkp Index : Yes / No Internet : Yes / No 4/5 https://www.mhc.tn.gov.in/judis Arb.Appln.No.862 of 2024 P.B.BALAJI, J., rkp Arb. Appln. No.862 of 2024 13.12.2024 5/5 https://www.mhc.tn.gov.in/judis