Arb.Appln.No.104 of 2025 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 24.01.2025 CORAM THE HONOURABLE MR.JUSTICE P.B.BALAJI Arb.Appln.No.104 of 2025 M/s.Cholamandalam Investment and Finance Company Limited, 'Chola Crest', C 54 & 55, Super B-4, Thiru Vi Ka Industrial Estate, Guindy, Chennai - 600 032. Represented by its Authorised Signatory ... Applicant vs. M/s.Yogeshwar Engineering, Represented by its Proprietor, Vrunavan Park, Narayanan Way Bridge, Dharamjiven Mill Phase, Kothariya, Rajkot, Gujarat - 363 621. ... Respondent PRAYER: Arbitration Application filed under order XIV Rule 8 of Original Side Rules read with Section 9(1)(ii)(a)(b),(d)&(e) of the Arbitration and Conciliation Act 1996 to appoint employee of the applicant viz., Mr.Aniruddhsinh Chandrasinh Parmar, Area Sales Manager as Receiver to seize and take possession of the Equipment which is more fully described in the schedule to the Judges Summons which is lying in the custody of the respondent or respondent's men, agents from respondent premises or wherever found with Police aid and break open of premises if necessary. 1/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.104 of 2025 For Applicant : Mr.D.Pradeep Kumar O R D E R This application has been filed seeking appointment of Receiver viz., Mr.Aniruddhsinh Chandrasinh Parmar, Area Sales Manager to seize and take possession of the Equipment which is more fully described in the schedule to the Judges Summons which is lying in the custody of the respondent or respondent's men, agents, servant from respondent premises or wherever found with Police aid and break open of premises if necessary. 2. Heard Mr.D.Pradeep Kumar, 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 24.05.2023. 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 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 2/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.104 of 2025 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.Aniruddhsinh Chandrasinh Parmar, Area Sales Manager, having his office at M/s.Cholamandalam Investment and Finance Company Limited, 'Chola Crest', C 54 & 55, Super B-4, Thiru Vi Ka Industrial Estate, Guindy, Chennai - 600 032., is appointed as Receiver to seize and take possession of the asset viz., Equipment VMC 3/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.104 of 2025 Machine (VL 850) with Siemens 828 D CNC Controller and 10 HP Air Compressor - Manufacturer Shree Umiya Engineers with all accessories lying at respondents' premises 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. 4/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.104 of 2025 7. Notice to the respondent returnable by 06.03.2025. Private notice is also permitted. 8. Post the matter on 06.03.2025 for filing report of the Party Receiver. 24.01.2025 vji Index : Yes / No Internet : Yes / No NCC : Yes / No 5/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.104 of 2025 P.B.BALAJI, J. vji Arb.Appln.No.104 of 2025 24.01.2025 6/6 https://www.mhc.tn.gov.in/judis