Cholamandalam Investment and Finance Co Ltd v. Shereef J

ORDER This application has been filed for an order of appointment of a Receiver to seize and deliver the vehicle Mahindra Bolero Pick Up, bearing Engine Page2 of 6 No.GHD1J76506, Chassis No.MA1ZN2GHKD1J68469 and Registration No.KL19D7801 available at respondent's premises or wherever found and permit the Receiver to obtain police aid and to break open the premises.

¶2The learned counsel appearing for the applicant would submit that the applicant provided a loan to the respondent for the purchase of the asset vehicle and also a Loan Agreement had also been entered by the respondent with the applicant on 15.02.2025. The brief details in nutshell are as follows: S.No. Particulars Remarks Name of the Lender M/s.Cholamandalam Investment and Finance Company Limited Name of the Borrower Shereef J Date of the Loan Agreement

15.02.2025 Loan amount Rs.3,32,500/- No. of installments First installment

15.03.2025 Last installment

15.02.2029 Notice

08.12.2025 Reply to the Notice Nil Rate of interest

19.99946% p.a. Amount claimed Rs.3,42,630.40 as on 11.03.2026

¶3The learned counsel for the applicant further submits that the respondent, having availed the loan, failed to repay the same. He would submit that the hypothecated vehicle is a movable asset and if it is kept in idle Page3 of 6 condition, it would get damaged and its value also gets deteriorated and hence he would urge this Court to appoint an Advocate Commissioner to re-possess the asset 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.

¶4In spite of notice having been served 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.

¶5I have considered the submissions made by the learned counsel for the applicant and also perused the materials placed on record.

¶6Upon 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 prima facie case in its favour but is not inclined to appoint a Party-Receiver. Accordingly, Ms.M.Priyadharshini, having her office at No.294/186, 1D, 1st Floor, Malhotra House, Thambu Chetty Street, Chennai-600 001, (Mob. No. 6374467579/8220971771) is appointed as the Advocate Commissioner to seize the vehicle Mahindra Bolero Pick Up, Page4 of 6 bearing Engine No.GHD1J76506, Chassis No.MA1ZN2GHKD1J68469 and Registration No.KL19D7801 to the custody of the applicant, available at the respondent's premises or wherever found and with whomsoever it is found and hand over the same to the custody of the applicant. She shall be paid her initial remuneration of Rs.30,000/- (Rupees Thirty Thousand Only) in advance. The expenses towards 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.

¶7It 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 lock is required, the Advocate Commissioner 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 Advocate Commissioner find any difficulty with the jurisdictional police, she is at liberty to approach Superintendent of Police, who shall provide all necessary assistance to the Advocate Commissioner at the time of seizure of the vehicle. After the seizure, the vehicle is to be handed over to the applicant or to their representative, after taking inventories. Page5 of 6

¶8If the respondent makes 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.

¶9With the above terms, this application stands disposed of. 08-07-2026 Maya Copy to Ms.M.Priyadharshini, having her office at No.294/186, 1D, 1st Floor, Malhotra House, Thambu Chetty Street, Chennai-600 001. (Mob. No. 6374467579/8220971771) Page6 of 6

K.KUMARESH BABU, J. Maya 08-07-2026

Page1 of 6 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 08-07-2026 CORAM THE HON'BLE MR.JUSTICE K.KUMARESH BABU M/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. ..Applicant(s) Vs Shereef J ..Respondent(s) Prayer: To appoint employee of the Applicant viz., Mr.Krishnanunni M Panicker, Legal Executive, 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's premises or wherever found with Police aid and break open of premises if necessary. For Petitioner(s): Mr.D.Pradeep Kumar For Respondent(s): No appearance