IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 31-01-2025 CORAM THE HONOURABLE MR JUSTICE P.B. BALAJI Arb Appln NO. 244 of 2025 Tata Capital Ltd 6A , Dr Ambedkar Salai, Kodambakkam , Appellant(s) Vs M Pandian 6A , Dr Ambedkar Salai, Kodambakkam ,No.79, Second Floor, 3rd Street, Voc Nagar Puthagaram, Chennai, Landmark Near Euro Kids School, Tamilnadu 600 099. Respondent(s) For Applicant(s): Mr.N.K.Vanan ORDER This application has been filed seeking appointment of a Receiver viz., Mr.Kamalakannan, Employee Code No.702883, currently designated as Assistant Manager in the applicant's Company having his office at First Floor, Centennial Square, Dr.Ambedkar Salai, Kodambakkam, Chennai, Tamil Nadu 600 024, as Receiver to seize and deliver the asset viz., HYUNDAI I20 bearing Engine No.G4LAHM406662, Chassis No.MALA851CLHM629812, Reg.No.TN-09-CJ-2776, situated at No.79, Second Floor, 3rd Street, VOC Nagar, Puthagaram, Chennai, Landmark – 1/5 https://www.mhc.tn.gov.in/judis Near Euro Kids School, Tamil Nadu – 600 099 or wherever it is 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.M.K.Vanan, learned counsel for the applicant. 3.The respondent entered into a loan agreement with the applicant Company dated 14.09.2023 for purchase of the asset, more fully described in the schedule to the Judges Summons. Under the loan agreement, the total loan amount of Rs.10,26,765/- was repayable by the respondent to the applicant in 53 monthly installments commencing from 05.08.2023. 4.The learned counsel appearing for the applicant 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 the applicant undertakes to initiate arbitration proceedings against the respondent. 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 2/5 https://www.mhc.tn.gov.in/judis 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 inclined to appoint a Party Receiver. Accordingly, this Application is ordered with the following directions: a) Mr.Kamalakannan, Employee Code No.702883, currently designated as Assistant Manager in the applicant's Company having his office at First Floor, Centennial Square, Dr.Ambedkar Salai, Kodambakkam, Chennai, Tamil Nadu 600 024, is appointed as a Party Receiver to repossess the asset viz., HYUNDAI I20 bearing Engine No.G4LAHM406662, Chassis No.MALA851CLHM629812, Reg.No.TN-09-CJ-2776, situated at No.79, Second Floor, 3rd Street, VOC Nagar, Puthagaram, Chennai, Landmark – Near Euro Kids School, Tamil Nadu – 600 099, which is more fully described in the schedule to the Judges Summons from the respondent or wherever it is available and handover the same to the applicant by way of interim custody. Registry is directed to hand over the order to the learned counsel for the Applicant. b) The Party Receiver is permitted to obtain police aid and break open of the premises in case the seized asset is kept in a locked premises 3/5 https://www.mhc.tn.gov.in/judis in the presence of the Police, after taking proper inventory; c) 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. d) 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 asset. 6. Notice to the respondent returnable by 18.03.2025. Private Notice is also permitted. 7. Post the matter on 18.03.2025 under the caption 'for reporting compliance'. 31.01.2025 ata P.B.BALAJI,J. ata 4/5 https://www.mhc.tn.gov.in/judis Arb Appln No.244 of 2025 31.01.2025 5/5 https://www.mhc.tn.gov.in/judis