Ms Cholamandalam Investment and Finance Company Ltd. Vs Satya Narayan

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Arb Appln No. 602 of 2026

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IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 16-07-2026

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CORAM

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THE HON'BLE MR.JUSTICE K.KUMARESH BABU Arb Appln No. 602 of 2026

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M/s.Cholamandalam Investment and Finance Company Limited, Chola Crest, C54-55 & Super B – 4, Thiru-vi-ka Industrial Estate, Guindy, Chennai – 600 032.

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..Applicant(s)

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Vs

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Satya Narayan ..Respondent(s)

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Prayer Arbitration Application under Order XIV Rule 8 of Original Side Rules read with Section 9(1)(ii)(c) & (e) of the Arbitration and Conciliation Act, 1996 praying to grant an order appointing as receiver of Mr.Dharamveer Singh, currently designated as Assistant Receivable Manager of M/s.Cholamandalam Investment and Finance Company Limited having his officeat Chola Crest, C54 & 55, Super B-4, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai-600032, to visit the respondents premises, other areas which is occupied by the Respondent and any other premises of the Respondent along with Local police protection to break open if necessary, and to seizeand take custody of the vehicle hypothecated with applicant being Model-PRO 3018HSD WB5490 22 FT, Chassis No. MC2CBMRC0PC088805, Engine No. E426CDPC429984, and bearing Registration No.UP83CT8965 with all accessories fitted to the asset specifically described in the scheduleto the Judges Summons and hand them over to the applicant pending finaladjudication of the disputes between parties through arbitration.

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

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Arb Appln No. 602 of 2026

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For Applicant(s): Mr.T.Gowri Shankar for M/s.SAN LAW Partners LLP For Respondent(s): No appearance

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O R D E R

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This application has been filed to grant an order appointing as receiver of

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Mr.Dharamveer Singh, currently designated as Assistant Receivable Manager of M/ S.Cholamandalam Investment and Finance Company Limited having his officeat Chola Crest, C54 & 55, Super B-4, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai-600032, to visit the respondents premises, other areas which is occupied by the Respondent and any other premises of the Respondent along with Local police protection to break open if necessary, and to seize and take custody of the vehicle hypothecated with applicant being Model-PRO 3018HSD WB5490 22 FT, Chassis No. MC2CBMRC0PC088805, Engine No. E426CDPC429984, and bearing Registration No.UP83CT8965 with all accessories fitted to the asset specifically described in the schedule to the Judges Summons and hand them over to the applicant pending final adjudication of the disputes between parties through arbitration.

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2. The learned counsel appearing for the applicant would submit that the applicant had provided a loan to the respondent for the purchase of the vehicle

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

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Arb Appln No. 602 of 2026

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viz., Model-PRO 3018HSD WB5490 22 FT, Chassis No. MC2CBMRC0PC088805, Engine No. E426CDPC429984, and bearing Registration No.UP83CT8965 and also a Loan Agreement had also been

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entered by the respondent with the applicant on 03.04.2023. He would contend that there is some unremained installments that are to be made by the respondent and that in spite of repeated demands, the respondent had failed to regularize the default and had continued to not pay the EMIs. He would further submit that considering the facts of the case, the applicant had sought for an appointment of a party receiver which would be more effective.

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3. In spite of notice had been returned with an endorsement as ‘refused’, which amounts to effective service on the respondent, the respondent had neither chosen to appear before this Court in person nor is being represented by a counsel. The name of the respondent has been reflected in the cause-list. He was called absent and set ex parte .

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4. I have considered the submissions made by the learned counsel for the

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applicant and also perused the materials placed on record.

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5. This Court is of the view that the applicant has made out a prima facie case for appointment of a Party Receiver.

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Arb Appln No. 602 of 2026

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6. Upon considering the facts and circumstances of the case and the submissions made by the learned counsel for the applicant, this Court is satisfied with the prayer sought for in this application and in fine, Mr.Dharamveer Singh, currently designated as Assistant Receivable Manager is apppointed as Party Receiver to seize and take possession of the asset viz., Model-PRO 3018HSD WB5490 22 FT, Chassis No. MC2CBMRC0PC088805, Engine No. E426CDPC429984, and bearing Registration No.UP83CT8965 from the respondent or any place belonging to the respondent or wherever found and with whomsoever it is found. It is also made clear that if police help is required, the Party Receiver 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 Party Receiver to seize the vehicle. If break open of a lock is required, the Party Receiver shall do so in the presence of the police personnel who will counter sign the record evidencing the break open of the lock and to re-lock the premises. If the Party Receiver finds any difficulty with the jurisdictional police, he is at liberty to approach Superintendent of Police, who shall provide all necessary assistance to him at the time of seizure of the vehicle.

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7. If the respondent make good the unpaid installments or makes

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substantial payments of the dues to be paid to the satisfaction of the applicant, the applicant shall return the asset in the condition it was re-possessed.

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Arb Appln No. 602 of 2026

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8. With the above terms, this application stands disposed of.

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16-07-2026

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Maya