Interim Order 1

Order Details: COPY OF JUDICIAL PROCEEDINGS
Pdf Text: Arbitration Petition No. 1701/2026
PIRAMAL FINANCE LTD. Vs. Kuldeep Singh
30.07.2026
Fresh case received by way of assignment. It be checked and registered.
Present: Sh. Mukund Kumar Jha, Ld. Counsel for petitioner.
O R D E R
1. Vide this order, I shall decide an application under Section 9 of the
Arbitration & Conciliation Act, 1996 seeking ex-parte interim relief filed by the
petitioner.
2. Issue notice of the petition to respondent in view the judgment
passed by Hon’ble High Court Delhi in case of New Morning Star Travels v.
Volkswagen Finance Pvt. Ltd for 30.11.2026.
3. The request made by the petitioner for ex parte appointment of
receiver is however considered in view of the fact that respondent may conceal or
dispose of the vehicle in question, I deem it appropriate and take it as a fit case
where the receiver is to be appointed at this stage for taking possession of the
vehicle in question.
4. It is submitted by Ld. Counsel for the petitioner that Sh.
Shivnandan Sharma, employee of the petitioner bank may be appointed as
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receiver to take possession of the vehicle make MARUTI SUZUKI INDIA LTD
MARUTI ALTO K10 VXI, bearing registration No. UP21CE0796, from the
possession of respondent, his agent or from any one else who is in possession of
the said vehicle and the receiver may also be allowed to take assistance of police,
if necessary for the said purpose. It is further argued that the respondent has not
been making any payment due towards the loan taken by him which has resulted
into loss to the petitioner.
5. Heard Ld. Counsel for petitioner and perused the record file.
6. In view of the averments made in the application and the
submissions made, the application under Section 9 of the Arbitration &
Conciliation Act, 1996 stands allowed. Following reliefs are hereby granted to the
petitioner:-
(i) Sh. Shivnandan Sharma, employee of the petitioner bank is
appointed as receiver to take possession of the vehicle i.e MARUTI SUZUKI
INDIA LTD MARUTI ALTO K10 VXI, bearing registration No. UP21CE0796,
from the respondent, his agents or any other person found possessing the vehicle.
(ii) The receiver shall have the right to gain possession of the
hypothecated vehicle purchased by the respondent out of the loan amount i.e.
MARUTI SUZUKI INDIA LTD MARUTI ALTO K10 VXI, bearing registration
No. UP21CE0796, from wherever place it be found, by unlocking or towing or
otherwise, through its authorized representative and with the assistance of police,
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if necessary. The acquired vehicle shall be sold/auctioned as per rules and its
proceeds shall be adjusted towards the amount recoverable from the respondent. It
is needless to say that the amount received in excess of recoverable amount shall
be transferred to the bank account of respondents under due intimation. However,
the amount so received if found deficient to satisfy the claim, the claimant shall be
at liberty to recover the reminder amount by executing the arbitral award as per
law.
(iii) The receiver shall file in the Court, the resolution by Board of
Directors that he is duly authorized to act on behalf of the company within three
days of passing of the order, as already furnished.
(iv) An inventory in respect of the attachments in the vehicle shall be
made by the receiver and copy of the same be given to the person from whose
possession the vehicle is possessed and the petitioner who shall file the same in
the Court along with his report.
(v) This condition of vehicle shall be noted and the receiver shall take
photograph of the repossessed vehicle from all sides and shall ensure that vehicle
is kept in the same condition as it was repossessed.
(vi) An appropriate receipt shall be given to the person from whose
custody the vehicle is taken. The vehicle in question shall not be sold or disposed-
of or the possession thereof parted with without due permission of the Court.
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(vii) The receiver shall have a liberty to approach the police authorities
concerned who are directed to provide all necessary assistance to the receiver in
obtaining a peaceful repossession of the subject vehicle.
(viii) The SHO of the area within whose jurisdiction the address (s) of
the respondent is/are situated is hereby directed to give the police help to the
receiver, as required by him.
(ix) The receiver shall submit his report within ten days of taking custody
of the vehicle along with the photographs and the inventory as mentioned above.
(x) The petitioner is directed to commence the arbitration proceedings,
if not commenced earlier, within a period of one month from today.
7. The petitioner shall file the status report on the next date of
hearing.
The application stands disposed-of accordingly.
Put up for service report of respondent on 30.11.2026.
Pronounced in the open Court (KIRAN GUPTA)
on 30.07.2026 DISTRICT JUDGE-02
NORTH WEST DISTRICT,
ROHINI COURTS, DELHI
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