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2025 DAILYLAW 18456 (MAD)

Cholamandalam Investment And Finance Co Ltd v. Subramani A

Arb Appln/205/2025 · 2025-01-30

P B Balaji

Transfer Petitionbody2025

Judgment text

Extracted from the PDF above. The PDF is authoritative.

Arb.Appln.No.205 of 2025 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 30.01.2025 CORAM THE HONOURABLE MR.JUSTICE P.B.BALAJI Arb. Appln. No.205 of 2025 M/s. Cholamandalam Investment and Finance Company Limited, ‘Chola Crest’, C54 & 55, Super B-4. Thiru Vi Ka Industrial Estate, Guindy, Chennai – 600 032 Represented by its Authorised Signatory ... Applicant vs. Mr.Subramani.A ... respondent PRAYER: This Arbitration Application filed under ORDER XIV RULE 8 OF O.S. RULES READ WITH SEC 9 (II) (d) & (e) OF ARBITRATION AND CONCILIATION ACT 1996, to appoint Advocate Commissioner to seize and take possession of the vehicle which is more fully described in the schedule to the Judges Summons which is lying in the custody of respondent or respondent’s men, agents, servants from respondent premises or wherever found with Police aid and break open of premises if necessary. For Applicant : Mr.D.Pradeep Kumar ********** ORDER This Application has been filed under Section 9 of the Arbitration and Conciliation Act, 1996 seeking to appoint an Advocate Commissioner 1/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.205 of 2025 to seize and deliver the Asset JCB Backhoe Loader 3DX Plus, bearing Engine No. H00337015, Chassis No. / HAR3DXS4H03157649 and Registration No. TN-29-CW-6266 available at the respondent's premises or wherever found and permits the Advocate Commissioner to obtain police aid and to break open the premises. 2. The respondent entered into a loan agreement dated 24.06.2022 for purchase of the asset, morefully described in the schedule to the Judges Summons. Under the loan agreement, the total loan amount was repayable by the respondent to the applicant in 57 monthly installments commencing from 25.07.2022. 3. The learned counsel for the applicant submits that the respondent has availed the loan and failed to repay the same. Hence, the applicant has initiated the arbitration proceedings in accordance with the Arbitration Clause and pursuant to which, Award was passed by the learned Arbitrator in Arbitration Case No.ARC/SICCI/VL/RPK/397/24 dated 18.09.2024. As per the award, the applicant is entitled to repossess the asset, morefully described in the schedule to the Judges Summons. The applicant has expressed its difficulty to repossess the asset on its own. 2/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.205 of 2025 4. He would further submit that if the hypothecated asset is kept in idle condition, it would get damaged and its value also gets deteriorated and hence he would urge this Court to appoint an Advocate Commissioner to seize and handover the asset more fully described in the schedule to the Judge's Summons, available at the respondent's premises to the applicant, in order to make the security effective and so that the money in dispute in arbitration is fully secured by way of sale of the asset in public auction after following due process of law. 5. Upon considering the facts and circumstances of the case and the submissions made by the learned counsel for the applicant, this Court is inclined to appoint an Advocate Commissioner. Accordingly, this Application is ordered with the following directions: a) Mrs.K.SHEELA, (Enroll. No.1490 of 2014), Advocate, having address at Chamber No.379, New Additional Law Chamber, High Court Buildings, Chennai – 600 104, Cell: 95660 24342, E.Mail:ksheela.88@gmail.com is appointed as an Advocate Commissioner to repossess the asset, which is more fully described in the schedule to the Judges Summons viz., JCB Backhoe Loader 3DX Plus, bearing Engine No. H00337015, Chassis No. / HAR3DXS4H03157649 3/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.205 of 2025 and Registration No. TN-29-CW-6266 from the respondent or wherever it is available and handover the same to the applicant by way of interim custody; b) The Advocate Commissioner is permitted to obtain police aid and break open of the premises in case the seized asset is kept in a locked premises in the presence of the Police, after taking proper inventory; c) If break open of a lock is required, the Advocate Commissioner 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. d) If the Advocate Commissioner finds any difficulty with the jurisdictional police, she is at liberty to approach Superintendent of Police, who shall provide all necessary assistance to her at the time of seizure of the asset. e) The Advocate Commissioner shall be paid his initial remuneration of Rs.30,000/- (Rupees Thirty Thousand only) within a period of six weeks from the date of receipt of a copy of this order or before the Advocate Commissioner executes the Warrant of Commission in accordance with the directions given by this Court. The Boarding, lodging and travel expenses shall be paid by the applicant to the Advocate Commissioner for executing the warrant of Commission; 4/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.205 of 2025 6. Notice to the respondent returnable by 17.03.2025. Private Notice is also permitted. 7. Post the matter on 17.03.2025 'for reporting compliance'. 30.01.2025 rkp Index : Yes / No Internet : Yes / No P.B.BALAJI, J., rkp 5/6 https://www.mhc.tn.gov.in/judis Arb.Appln.No.205 of 2025 Arb. Appln. No.205 of 2025 30.01.2025 6/6 https://www.mhc.tn.gov.in/judis