Judgment:
ORDER
SHEET AP No.285 of 2012 IN THE HIGH COURT AT CALCUTTA ORIGINAL SIDE MAGMA FINCORP LIMITED Versus TRIBENI BARIK & ANR BEFORE: The Hon'ble JUSTICE INDIRA BANERJEE Date :
17. h April, 2012.
Appearance: Mr.S.Mukherjee, Adv.The Court :- The petitioner financed Rs.19,52,651/- to the respondent no.1 for purchase of the vehicle specified in paragraph ‘2’ of the petition.
The amount advanced along with interest was repayable in 47 equal monthly instalments of Rs.54,200/- per month (except the fiRs.instalment, which was of Rs.30,000/-) commencing from 01.09.2011.
An agreement dated 5.8.2011 was executed by and between the petitioner and the respondents in terms whereof the petitioner has the right to take possession of the vehicle, in default of compliance with the terms and conditions of the agreement including in payment of any instalment, sell the same, and realize the proceeds thereof towards pro tanto satisfaction of its dues.
The agreement also contains a clause for resolution of disputes by arbitration.
The respondent no.1 paid 5 instalments and part of 6th instalment and thereafter committed defaults.
It is claimed due that a inclusive of sum of Rs.22,44,580/- future instalments which has fallen have become repayable by reason of default.
The petitioner has, prima facie, become entitled to take possession of the said vehicle.
The petitioner has been able to make a good prima facie case for interim relief.
It is pleaded that the agreement has been executed at the registered office of the petitioner at 24 Park Street, Kolkat”
016. within the jurisdiction of this Court.
contains a jurisdiction In any case, clause whereby the the agreement parties have agreed that all disputes should be adjudicated in Kolkata.
This application is, therefore, entertained.
This Court is, however, of the view that no leave under Clause 12 of the Letters Patent is necessary since an application under Section 9 of the Arbitration and Conciliation Act, 1996, is not a suit.
There will be an order in terms of prayer (b) of the petition.
Ms.Mrinmoyee Roy Chowdhury, Advocate, is appointed Receiver over the vehicle.
The learned Receiver shall immediately take symbolical possession of the vehicle and make an inventory thereof.
The petitioner submits that the vehicle is located at Ghatagaon in the Keonjhar District.
The respondents are directed to inform the learned Receiver in question to of the exact location of the vehicle enable the learned Receiver to take symbolical possession and make an inventory in terms of this order.
Once the location of the vehicle is disclosed to the learned Receiver the Respondents shall not remove the vehicle from the said location, till the learned Receiver takes symbolical possession and makes an inventory in terms of this order.
Thereafter, the respondents shall keep learned Receiver informed of the whereabouts of the vehicle.
The learned Receiver shall be entitled to remuneration of 700 G.Ms.to be paid by the petitioner at the fiRs.instance.
The petitioner shall make necessary arrangements for travel and accommodation of the learned Receiver in a manner commensurate with his status as a practising Advocate of this Court.
Matter is made returnable four weeks hence.
Receiver and all parties are to act on a signed photostat copy of this order on the usual undertakings.
(INDIRA BANERJEE, J.cs.
A.R.(CR).