Axis Bank v. Mr.Heber Joseph S
Case brief
What is this about?
Section 9 Arbitration and Conciliation Act 1996 interim measure; Order XIV Rule 8 Original Side Rules; appointment of party receiver (bank employee K.Naveen, Manager, Axis Bank Ltd.) to seize hypothecated vehicle TN02BE6363 Toyota Innova Crysta from defaulting borrower S.Heber Joseph pending arbitration; loan agreement dated 15.11.2019 with arbitration clause; EMI default; police assistance, Station House Officer, break-open of lock, Superintendent of Police; Madras High Court Arb.Appln.No.109 of 2025; P.B.Balaji J.; order dated 24.01.2025; notice returnable 06.03.2025; receiver's report.
What did the court decide?
Application ordered: Mr.K.Naveen (Employee Code No.480129, Manager, Axis Bank Ltd.) appointed as Party Receiver to seize Motor Car No.TN02BE6363 (Innova Crysta 2 4 Z BS IV, Chassis No.MBJAB3EM502502043, Engine No.2GDA009414) with all accessories from the respondent or wherever found, with police assistance, break-open in police presence, and escalation to the Superintendent of Police if needed; Registry to hand over the order to the applicant's counsel; notice to the respondent returnable by 06.03.2025 (private notice permitted); matter posted to 06.03.2025 for filing of the Party Receiver's report.