Judgment:
AP No.965 of 2012 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE SREI EQUIPMENT FINANCE PVT.LTD.Versus Mr.SAKHI GWALA & ANR.
BEFORE: The Hon'ble JUSTICE SANJIB BANERJEE Date : 7th January, 2014.
Appearance: Mr.S.Banerjee, Adv.The Court : The respondents are not represented and have not shown any interest at any stage of the present proceedings.
The receiver is in possession of the two assets covered by the agreement and an offer of Rs.12.50 lakh has been received for sale of the rock breaker and excavator which cost in the region of Rs.45 lakh in the year 2011.
The petitioner says that the respondents have been informed of the offer.
The petitioner also reports that the hearing in the arbitral reference has been concluded and the award is awaited.
Since the rock breaker and excavator have been taken possession of by the receiver several months back and are deteriorating in value, the sale of such assets is confirmed in favour of Vikas Agarwal of Ranchi at Rs.12.50 lakh subject to the entire payment being made by way of a pay order or banker’s cheque or like instrument, not being a personal cheque, in favour of the petitioner within a period of a fortnight from date.
In default of the payment being made within the time permitted, the earnest deposit of Rs.2.50 lakh will be forfeited and the petitioner will have liberty to apply afresh.
The receiver will stand discharged after the transaction is completed and after receiving his final remuneration of 1000 GM which the petitioner will be entitled to claim in the possible execution proceedings.
AP No.965 of 2012 is disposed of without any order as to costs.
Certified website copies of this order, if applied for, be urgently supplied to the parties subject to compliance with all requisite formalities.
(SANJIB BANERJEE, J.) sg.