Judgment:
The Court : Leave is granted under Clause 12 of the Letters Patent subject to the question of its requirement. This is a section 9 application. It is founded on a hire purchase agreement dated 31st December, 2007 between the petitioner and the respondent no.1. The subject matter of the agreement is machinery, the value of which is Rs.1,79,00,000/-.
Due to default in payment of instalments by the respondents, the petitioner terminated the agreement on 24th June, 2010. The dues of the respondents towards the petitioner as on 8th June, 2010 was Rs.92,58,664/- An Arbitrator has been appointed. Affidavit of service has been filed in Court. It is submitted that the respondents have been served, which submission is accepted. None appears for the respondents.
Therefore, on the above prima facie, I pass an order in terms of prayers [a] and [f] of the petition. I appoint Mr.Sudipta Mallick, 6 Old Post Office Street, Advocate as Receiver at an initial remuneration of 700 GMs. to be paid by the petitioner. Receiver to file a report by the returnable date. The Receiver will be at liberty to appoint an agent but must exercise full control over such agent. The local police authority is directed to render necessary assistance to the Receiver, if so requisitioned by him/her.
The assistance to be rendered by the police will include the necessary help in tracing out the machinery. I make this application returnable on 22nd November, 2010 to pass further order.
Receiver and all parties concerned are to act on a signed photocopy of this order on the usual undertakings.