Tata Motors Finance Limited v. Nandamuri Transporters
Case brief
What is this about?
Bombay HC Commercial Division; Commercial Arbitration Petition No. 341 of 2024; Tata Motors Finance Ltd v. Mandamuri Transporters; Arif S. Doctor J; order dated 7th April 2026; permission to sell two hypothecated vehicles; Court Receiver possession (order 10-03-2025; report 18-08-2025); loan agreement repossession clauses 12.4(iv), 13, 13.3, 13.4, 13.5; relief granted in terms of prayer clause (f); sale proceeds earmarked pending arbitration with repatriation undertaking; Section 11 Arbitration and Conciliation Act petition pending before Co-ordinate Bench (listed 18-04-2026); stood over to 4-05-2026; interim relief.
What did the court decide?
Interim relief: the Petitioner was permitted to sell the two hypothecated vehicles and granted relief in terms of prayer clause (f) of the Petition (Court Receiver, High Court, Bombay empowered to take forcible physical possession of the Hypothecated Assets with police assistance if necessary, and to sell by public auction or private treaty, handing over the hypothecated assets to the Petitioner or the buyer). Counsel for the Petitioner submitted that the sale proceeds would be earmarked and kept aside pending the arbitration proceedings and undertook to repatriate them to the Respondent if the Petitioner fails in the arbitration. Matter stood over to 4th May 2026.