IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 20-12-2024 CORAM THE HONOURABLE MR JUSTICE P.B. BALAJI Arb Appln NO. 901 of 2024 Tata Capital Ltd TATA CAPITAL LTD By its Legal Manager D.Kalai Arasan Having its office at 1st Floor Centennial Square 6A Dr Ambedkar Salai Kodambakkam Chennai 600 024 Appellant(s) Vs M C Prabhakaran Mekkaraveli Pallippuram, Kadamba, Kulangara Devi Temple, Alappuzha 688 541.TATA CAPITAL LTD By its Legal Manager D.Kalai Arasan Having its office at 1st Floor Centennial Square 6A Dr Ambedkar Salai Kodambakkam Chennai 600 024 Respondent(s) For Appellant(s): M/s.N.K.Vanan For Respondent(s): 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 Company, having his office at 1st Floor, Puthuran Plaza, KPCC Junction, M.G.Road, Cochin, Kerala 682 011, to 1/5 https://www.mhc.tn.gov.in/judis seize and deliver the asset, STETTER XCMG XE38U EXCAVATOR bearing Engine No.16467A, Chassis No.810223100/XUGF040UPNKA003370, Registered as KL-17-A-4601 at Mekkaraveli Pallippuram, Kadamba Kulangara Devi Temple, Alappuzha – 688 541, or wherever it found more fully described hereunder, with police aid or break open the premises from wherever found and handover 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 the purchase of the aforesaid vehicle and also a Loan Agreement had also been entered by the respondent with the applicant on 31.05.2023. He would contend that the respondent was irregular in making the payment of instalments and that in spite of repeated demands, the respondent had failed to regularize the default and had continued not to pay the EMIs. He would further submit that Section 21 notice has also been served on the respondent. He would further submit that considering the value of the 2/5 https://www.mhc.tn.gov.in/judis 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. 4. 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. 5. Accordingly, this application is ordered with the following directions: (i) Mr.Athin Roy, Employee Code 394242 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., STETTER XCMG XE38U EXCAVATOR bearing Engine No.16467A, Chassis No.810223100/XUGF040UPNKA003370, Registered as KL-17-A-4601, with all accessories fitted to the vehicle from the respondent, or any place belonging to the 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. 3/5 https://www.mhc.tn.gov.in/judis (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 Inspector of Police/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. 6. Notice to the respondent returnable by 21.01.2025. Private Notice is also permitted. 7. Post the matter on 21.01.2025 for filing report of the Party Receiver. 20.12.2024 ata 4/5 https://www.mhc.tn.gov.in/judis P.B.BALAJI, J. ata Arb.Appln.No.901 of 2024 20.12.2024 5/5 https://www.mhc.tn.gov.in/judis