Tata Motors Finance Limited v. Khetan Singh Rajpoot
Case brief
What is this about?
Section 9 Arbitration and Conciliation Act 1996 ad-interim relief; hypothecated commercial vehicle loan; Tata Motors Finance Limited; Khetan Singh Rajpoot; injunction against sale/alienation/encumbrance of hypothecated vehicles; disclosure of vehicle location on oath; handover to Court Receiver High Court Bombay; loan recall notice 27-07-2024; pending invocation of arbitration; Section 17 application; Bombay High Court Commercial Division; CARBP 30/2025; Somasekhar Sundaresan J.
What did the court decide?
Ad-interim reliefs granted in terms of prayer clause 34(a) and (f) of the Petition, as moulded: (i) injunction restraining the Respondents from selling, alienating, transferring, encumbering, disposing of or creating third-party rights in the two hypothecated commercial vehicles (Contract Nos. 5004611038 and 5004616277) and in the Respondents' movable and/or immovable properties/assets; (ii) Respondents to disclose on oath the current and exact detailed location of the hypothecated vehicles and to hand over peaceful possession to the Court Receiver, High Court, Bombay, at Respondents' cost as per the Agreements. Reliefs operate pending invocation and initiation of arbitration and until the Arbitral Tribunal hears a Section 17 application. Respondents may seek variation/modification/vacation on the next date; Petitioner's counsel stated arbitration would be invoked on or before the next date; matter listed on February 17, 2025 under the caption 'For Interim Relief-Section 9'.