This court appointed a receiver for the applicant to seize a vehicle from the respondent upon a prima facie case of default under a loan agreement, allowing six weeks to comply with police assistance provisions.
Appointment of Mr. Vijay Kumar Yadav as receiver to seize the vehicle within six weeks.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION)
THURSDAY, THE 9TH DAY OF SEPTEMBER 2021
THE HON'BLE MR. JUSTICE V.PARTHIBAN
Arb.Appln. No.131 of 2021
In the matter of Arbitration & Conciliation Act, 1996
and
In the matter of Disputes between M/s. TVS Credit Services Limited and Mr. Ashutosh Mishra Arising under Loan Cum Hypothecation Agreement Dated 11.10.2018 bearing Agreement No. UP3071LT0000546.
M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai – 600 006. Represented by its Authorised Signatory ... Applicant
Vs.
Mr. Ashutosh Mishra, S/o. Bhagwan Prasad Mishra, Vill Rahayakpur Post Waini, the Lambhua, Sultanpur, Waini B.O., Uttar Pradesh – 222302. ... Respondent
Application praying that this Hon'ble Court be pleased to appoint
the employee of the Applicant viz. Mr.Vijay Kumar Yadav, Territory
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Collection Manager as Receiver to seize and take possession of the vehicle which is morefully described in the schedule to the Judges summon which is lying in the custody of the respondent or respondent's men, agents, servants from respondent premises or wherever found with police aid and break open the premises if necessary.
This application coming on this day before this court for hearing through video conferencing in the presence of Mr.D. Pradeep Kumar, Advocate for the Applicant herein, and upon reading the Judge's Summons and the affidavit of Mrs. Shanthi G.K. filed herein, it is ordered as follows:-
That Mr.Vijay Kumar Yadav, Territory Collection Manager, of the applicant's company be and is hereby appointed as the receiver to seize the vehicle covered under the contract and this order shall operate only for a period of six (6) weeks from the date of receipt of a copy of this Order and thereafter, this Order shall stand automatically cancelled.
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assistance for this purpose.
respondent by the applicant before the Receiver takes any action on the basis of this order.
SCHEDULE
Eicher 242, bearing Engine No. 525229186898, Chassis No. 925310209760 and registered as UP44AN4978.
WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 9TH DAY OF SEPTEMBER 2021.
Sd/-
ASSISTANT REGISTRAR (Comm. Cases)\ //Certified to be true copy// Dated at Madras this the day of 2021.
COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.
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EVK 22/09/2021
Arb.Appln. No.131 of 2021 ORDER DATED : 09.09.2021 THE HON'BLE MR. JUSTICE V.PARTHIBAN FOR APPROVAL: 23/09/2021 APPROVED ON: 23/09/2021
Copy to:- Mr.Vijay Kumar Yadav, Territory Collection Manager Receiver, M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai – 600 006.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION)
THURSDAY, THE 9TH DAY OF SEPTEMBER 2021
THE HON'BLE MR. JUSTICE V.PARTHIBAN
Arb.Appln. No.131 of 2021
In the matter of Arbitration & Conciliation Act, 1996
and
In the matter of Disputes between M/s. TVS Credit Services Limited and Mr. Ashutosh Mishra Arising under Loan Cum Hypothecation Agreement Dated 11.10.2018 bearing Agreement No. UP3071LT0000546.
M/s.TVS Credit Services Limited Jayalakshmi Estates, New No.29, Old No.8, Haddows Road, Chennai – 600 006. Represented by its Authorised Signatory ... Applicant
Vs.
Mr. Ashutosh Mishra, S/o. Bhagwan Prasad Mishra, Vill Rahayakpur Post Waini, the Lambhua, Sultanpur, Waini B.O., Uttar Pradesh – 222302. ... Respondent
Application praying that this Hon'ble Court be pleased to appoint
the employee of the Applicant viz. Mr.Vijay Kumar Yadav, Territory
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Collection Manager as Receiver to seize and take possession of the vehicle which is morefully described in the schedule to the Judges summon which is lying in the custody of the respondent or respondent's men, agents, servants from respondent premises or wherever found with police aid and break open the premises if necessary.
This Application coming on this day before this court for hearing, the court made the following order:-
This application has been filed for an interim measure of appointing a receiver to seize the vehicle.
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the applicant before the receiver takes any action on the basis of this Order.
Sd./-V.P.N.J. 09.09.2021
//Certified to be true copy// Dated at Madras this the day of 2021.
COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.
1 issue framed by the court
Whether to appoint a receiver to seize a vehicle pledged under a loan agreement upon default.
1 provisions across 1 enactments
M/s. TVS Credit Services Limited
Mr. Ashutosh Mishra
V. Parthiban
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
