Tata Capital Ltd. v. Riyas M P
Case brief
What is this about?
Madras High Court, Arb Appln No. 423 of 2026, K.Kumaresh Babu, J., 22-07-2026. Keywords: arbitration application; party receiver; vehicle seizure / re-possession; hire-purchase / loan default; EMI arrears; police assistance for seizure; break open premises; ex parte respondent; Tata Capital Limited v. Riyas M P; Nissan Sunny KL11BQ4410. Outcome: application allowed - financier's employee appointed Party Receiver to seize the financed vehicle, with conditional return of the asset if the respondent clears unpaid installments or makes substantial payments of dues.
What did the court decide?
Appointment of Mr.Pranoy C (Employee Code 867217), an employee of the applicant, as Party Receiver to seize and deliver the NISSAN SUNNY DCI XL (Engine No.K9KE424/E051631, Chassis No. MDHBDAN17J7602800, Reg. No. KL11BQ4410) to the applicant, with police assistance and break-open powers; asset to be returned in repossessed condition if the respondent clears unpaid installments or makes substantial payments of dues.