M/s.Cholamandalam Investment andFinance Company Limited v. Ram Kumar Paswan
Case at a glance
Outcome
Disposed of
With the above terms, this application stands disposed of
Provisions considered
Key paragraphs
- Para 44. I have considered the submissions made by the learned counsel for the applicant and also perused the materials placed on record. https://www.mhc.tn.gov.in/judis Arb Appln No. 229 of 2026__________Page3 of 55. This Court is of the view that the applicant has made out a prima…
Judgment
Arb Appln No. 229 of 2026__________Page1 of 5IN THE HIGH COURT OF JUDICATURE AT MADRASDATED: 11-06-2026CORAMTHE HON'BLE MR.JUSTICE K.KUMARESH BABUArb Appln No. 229 of 2026M/s.Cholamandalam Investment and Finance Company Limited, Chola Crest, C54-55 & Super B – 4,Thiru-vi-ka Industrial Estate, Guindy, Chennai – 600 032,Represented by its Authorised Signatory...Petitioner(s)VsRam Kumar Paswan, S/o.Arun Paswan, Ward No.14, Birnama Tula, School, Samastipur, Bihar 848 134...Respondent(s)Prayer Arbitration Application under Order XIV Rule 8 of Original Side Rules read with Section 9(1)(ii)(a)(b)(d) & (e) of the Arbitration and Conciliation Act, 1996 praying to appoint employee of the Applicant viz., Mr.Jyoti Prakash, Area Receivables Manager, as Receiver to seize and take possession of the vehicle which is morefully described in the schedule to the Judges Summons which is lying in the custody of respondent or respondent’s men, agents, servants from respondent premises or wherever found with Police aid and break open of premises. For Petitioner(s):Mr.D.Pradeep KumarFor Respondent(s):No appearanceO R D E RThis application has been filed to appoint employee of the Applicant viz., Mr.Jyoti Prakash, Area Receivables Manager, as Receiver to seize and take https://www.mhc.tn.gov.in/judis Arb Appln No. 229 of 2026__________Page2 of 5possession of the vehicle which is morefully described in the schedule to the Judges Summons which is lying in the custody of respondent or respondent’s men, agents, servants from respondent premises or wherever found with Police aid and break open of premises.
The learned counsel appearing for the applicant would submit that the applicant had provided a loan to the respondent for the purchase of the aforesaid vehicle and also a Loan Agreement had also been entered by the respondent with the applicant on 26.12.2024. 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.
In spite of notice having been effected 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.
Operative part
I have considered the submissions made by the learned counsel for the applicant and also perused the materials placed on record. https://www.mhc.tn.gov.in/judis Arb Appln No. 229 of 2026__________Page3 of 55. This Court is of the view that the applicant has made out a prima facie case for appointment of a Party Receiver and also finds that the award had been passed on 18.05.2026.6. 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.Jyoti Prakash, is appointed as Party Receiver to seize and take possession of the asset viz., Mahindra 215 Yuvraj bearing Engine No.GRF6BAA8181, Chassis No.MBNZJEAAURGF05196 and Registration No.BR33GC0728 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. https://www.mhc.tn.gov.in/judis Arb Appln No. 229 of 2026__________Page4 of 57. If the respondent make good the unpaid installments or makes 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. 8. With the above terms, this application stands disposed of.11-06-2026Index: Yes/NoSpeaking/Non-speaking orderNeutral Citation: Yes/NoMaya https://www.mhc.tn.gov.in/judis Arb Appln No. 229 of 2026__________Page5 of 5K.KUMARESH BABU, J.MayaArb Appln No. 229 of 2026 Dated : 11-06-2026
Questions this judgment answers
What did the Court decide in this case?
The Court recorded the following disposition: With the above terms, this application stands disposed of
Which statutory provisions did this judgment involve?
Arbitration and Conciliation Act, 1996.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.