Disposed

M/s Indusind Bank Ltd. v. Jeyabal S

Madras HC1 Apr 2024Arb Appln/181/2024

Case brief

AI extract

What is this about?

In this arbitration application, the court appointed Ms. R. Ravitha as an Advocate Commissioner to seize a hypothecated vehicle from the respondent, following a loan default. The order permitted police assistance if needed to break open premises for seizure, in order to secure the disputed amount pending arbitration.

What did the court decide?

Appointment of Ms. R. Ravitha as Advocate Commissioner with power to seize vehicle with police aid and break open premises if necessary.

M/s Indusind Bank Ltd. Vs Jeyabal S — Contract and Commercial Disputes | Madras HC (2024)

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Arb Appln.No.181 of 2024

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Arb Appln.No.181 of 2024

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KRISHNAN RAMASAMY, J.,

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This application has been filed seeking for a direction to appoint an Advocate Commissioner to seize and deliver the vehicle/Machinery ASHOK LEYLAND LTD., BADA DOST 13 bearing Vehicle Registration No.TN-75-A-2963, Vehicle Engine No.HNH034125P and Vehicle Chassis No.MB1AA42E3NRHY0964 to the custody of the applicant, available at the respondent premises or wherever found and with whomsoever it is found and permit the Advocate Commissioner to obtain police aid and to break open the premises.

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The learned counsel appearing for the applicant would submit that the applicant provided loan to the respondent for purchase of the vehicle/Machinery ASHOK LEYLAND LTD, BADA DOST 13 bearing Vehicle Registration No.TN-75-A-2963, Vehicle Engine

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https://www.mhc.tn.gov.in/judis

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Arb Appln.No.181 of 2024

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No.HNH034125P and Vehicle Chassis No.MB1AA42E3NRHY0964.

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Thereupon, the respondent has entered into Loan Agreement dated 30.05.2022 with the applicant. The brief details in nutshell are as follows:

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*S.No.*	*Particulars*	*Remarks*
1.	Name of the lender	The applicant
2.	Name of the borrower	The respondent
3.	Date of Loan Agreement	30.05.2022
4.	Loan Amount	Rs.8,15,000/-
5.	No.of installments	59 monthly installments
6.	First installment	07.07.2022
7.	Last installment	07.05.2027
8.	Overdue as on 03.02.2024	12
9.	Notice	04.10.2023
10.	Reply to the notice	No
11.	Rate of interest	36% p.a.
12.	Amount Overdue as on 03.02.2024	Rs.2,72,349/-
13.	Total Due Amount	Rs.7,74,710/-
14.	Arbitration proceedings initiated	Applicant undertakes to initiate arbitral proceedings within a period of 90 days.

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The learned counsel for the applicant further submits that the

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https://www.mhc.tn.gov.in/judis

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Arb Appln.No.181 of 2024

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respondent, having availed the loan, failed to repay the same and defaulted nearly 12 EMIs. She would submit that the hypothecated vehicle is a movable asset and if it 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 vehicle to the applicant bank morefully described in the schedule to the Judges summons available at the respondent's premises, in order to make the security effective and the money in dispute in arbitration is fully secured by way of sale of the vehicle in public auction after following due process of law.

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Upon considering the facts and circumstances of the case and the submissions made by the learned counsel for the applicant, this Court is satisfied that the applicant has made out a case in its favour and accordingly, Ms.R.Ravitha, Advocate, Women Lawyer's Association, Ist Floor, Additional Law Chambers, High Court Buildings, Chennai 600 104, Mobile No.96550 07811, is appointed as the

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https://www.mhc.tn.gov.in/judis

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Arb Appln.No.181 of 2024

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Advocate Commissioner to seize the vehicle/Machinery ASHOK LEYLAND LTD., BADA DOST 13 bearing Vehicle Registration No.TN-75-A-2963, Vehicle Engine No.HNH034125P and Vehicle Chassis No.MB1AA42E3NRHY0964 , lying at the respondent's premises or wherever found and hand over the same to the custody of the applicant. She shall be paid her initial remuneration of Rs.20,000/(Rupees Twenty Thousand only) in advance. The expenses toward her travel and stay shall be defrayed by the applicant. The said initial remuneration shall be paid to the Advocate Commissioner within a period of two weeks from the date of receipt of communication from her.

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It is hereby made clear that if police help is required, the Advocate Commissioner shall make a request to the local police station within whose jurisdiction the vehicle is found and on such request being made, the Station House Officer shall send the Police Personnel along with the Advocate Commissioner to seize the vehicle. If break open of a

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https://www.mhc.tn.gov.in/judis

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Arb Appln.No.181 of 2024

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lock is required, the Advocate Commissioner shall do so in the presence

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of the police personnel who will counter-sign the record evidencing the break open of the lock and to re-lock the premises. After seizure, the vehicle is to be handed over to the applicant or to their representative, after taking inventories.

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Accordingly, this application is disposed of.

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List the matter on 04.06.2024 for filing report of the Advocate

Commissioner.

01.04.2024

nsa

Note: Issue order copy on 04.04.2024.

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https://www.mhc.tn.gov.in/judis

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Arb Appln.No.181 of 2024

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KRISHNAN RAMASAMY, J.,

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nsa

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Arb Appln.No.181 of 2024

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01.04.2024

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https://www.mhc.tn.gov.in/judis

M/s Indusind Bank Ltd. v. Jeyabal S

Case brief

What is this about?

What did the court decide?

M/s Indusind Bank Ltd. v. Jeyabal S

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

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