1 ORDER
SHEET GA No.1619 of 2014 APOT No.271 of 2014 AP No.504 of 2014 -AndGA No.1620 of 2014 APOT No.272 of 2014 AP No.505 of 2014 IN THE HIGH COURT AT CALCUTTA Civil Appellate Jurisdiction ORIGINAL SIDE SREI EQUIPMENT FINANCE LIMITED Versus RASPAL SINGH SANDHY AND ANR BEFORE: The Hon'ble JUSTICE BANERJEE, ACTING CHIEF JUSTICE, The Hon'ble JUSTICE ARIJIT BANERJEE Date : 8th July, 2014.
Appearance: Mr.Swatarup Banerjee with Mr.Tirthankar Das, ld.
Advocates For the appellant.
The Court :- These two appeals are taken up together as it would involve the same parties and similar transaction.
The appeals would relate to an order of refusal passed by the learned Single Judge in approving the sale of equipment that the Receiver took possession of after the respondents had defaulted in making payment of instalment.
Despite repeated attempts and despite service being effected, the respondents are not present.
Hence compelled to take up these appeals in their absence.
we are Mr.Swatarup Banerjee, learned Counsel appearing for the appellant, would submit, the vehicles involved in these two matters would fetc.Rs.10.5 lac.
Despite their best effort, they could not get any better offer.
Hence, for ends of justice, we allow these appeals and set aside the judgment and order impugned.
The sale in favour of Amit Kumar Singh in respect of purchase of 1 No.of Hyundai R210 LC Excavator being serial No.N601D01427 and 1 No.Hyundai RB being Machine No.266 is confirmed at Rs.10.5 lacs.
The Receiver would hand over the proceeds to the appellant.
The appellant would invest the same in a suitable interest bearing fixed deposit in any nationalised bank of their choice and keep the same renewed from time till disposal of the arbitration proceeding.
Both the appeals are disposed of without any order as to costs.
(BANERJEE,ACTING CHIEF JUSTICE) (ARIJIT BANERJEE, J.) dg/