Arb.Appln.No.182 of 2025 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 28.01.2025 CORAM THE HONOURABLE MR.JUSTICE P.B.BALAJI Arb. Appln. No.182 of 2025 M/s. Indusind Bank Ltd., Rep. by its Deputy Manager Legal, I. J. Vasantha Rooban Abishek, Having office at - Consumer Finance Division, No. 34, G.N Chetty Road, T.Nagar , Chennai 600 017. ... Applicant vs. Mr.S.Baskar ... Respondent PRAYER: This Arbitration Application filed under ORDER XIV RULE 8 OF O.S. RULES READ WITH SEC 9 (1) (ii) (c) & (e) OF ARBITRATION ACT 1996, the Applicant prays to appoint employee of the Applicant viz., Mr.S.Vigneshwaran, LCV - Branch Head, employee of the Applicant to seize and deliver/take possession of the vehicle/machine ASHOK LEYLAND LTD. DOST+RFS LS DT RS BS6 FSD bearing Vehicle Registration No.TN49CV9461, Vehicle Engine No. BNH062666P and Vehicle Chassis No.MB1AA22E4NRBC9620 to the custody of the Applicant, available at the Respondent premises or wherever found and with whomsoever it is found and permit the Receiver to obtain Police aid and to break open the premises. 1/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.182 of 2025 For Applicant : Mrs.Meera Gnanasekar ********** ORDER This application has been filed to appoint employee of the Applicant viz., Mr.S.Vigneshwaran, LCV - Branch Head, employee of the Applicant to seize and deliver/take possession of the vehicle/machine ASHOK LEYLAND LTD. DOST+RFS LS DT RS BS6 FSD bearing Vehicle Registration No.TN49CV9461, Vehicle Engine No. BNH062666P and Vehicle Chassis No.MB1AA22E4NRBC9620 to the custody of the Applicant, available at the Respondent premises or wherever found and with whomsoever it is found and permit the Receiver to obtain Police aid and to break open the premises. 2. Heard Mrs.Meera Gnanasekar, 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 vehicle/machine ASHOK LEYLAND LTD. DOST+RFS LS DT RS BS6 FSD bearing Vehicle Registration No.TN49CV9461, Vehicle Engine No. BNH062666P and Vehicle Chassis No.MB1AA22E4NRBC9620 2/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.182 of 2025 and a Loan Agreement had also been entered by the respondent with the applicant on 25.01.2023. 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 dispute. The Applicant has issued Demand Notice on 26.04.2024. The applicant has expressed its willingness to go for Arbitration in accordance with the Arbitration Clause and accordingly, the Applicant has undertaken to initiate the Arbitration Proceedings. 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 3/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.182 of 2025 directions: (i) Mr.S.Vigneshwaran, LCV - Branch Head, is appointed as Receiver to seize and take possession of the asset viz., ASHOK LEYLAND LTD. DOST+RFS LS DT RS BS6 FSD bearing Vehicle Registration No.TN49CV9461, Vehicle Engine No. BNH062666P and Vehicle Chassis No.MB1AA22E4NRBC9620 with all accessories fitted to the asset 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. (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 4/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.182 of 2025 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 17.03.2025. Private Notice is also permitted. 8. Post the matter on 17.03.2025 for filing report of the Party Receiver. 28.01.2025 rkp Index : Yes / No Internet : Yes / No P.B.BALAJI, J., 5/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.182 of 2025 rkp Arb. Appln. No.182 of 2025 28.01.2025 6/6 https://www.mhc.tn.gov.in/judis