Judgment:
The Court : Two applications have been filed by one, Ravinder Pal Singh, describing himself as the proprietor of M/s. Noble Enterprises.
The first is GA No.2751 of 2010 whereby he seeks to be impleaded as respondent No.3. The second is GA No.2752 of 2010 where he seeks vacation of the interim order dated 26th July, 2010 passed by this Court in AP No.349 of 2010. It is his case that he is the owner of the equipment in question which he purchased from Dubai.
There could be no hypothecation of the equipment by the borrower in the hypothecation agreement with an arbitration clause, when the borrower had no title to the property. It may be said now that the Section 9 application was founded on this hire purchase agreement between the financer being Mr. Utpal Boses client and the borrower, the subject of matter of which was the said allegedly hypothecated equipment.
This agreement has an arbitration clause on which jurisdiction of this Court was invited. By the interim order a Receiver was appointed to take actual physical possession of the equipment. An order of injunction was also passed restraining the borrower from transferring or parting with possession of the equipment.
According to the report of the Receiver, he was directed to a premise controlled by G.S.Sethi & Sons. Possession of the equipment which was situated there was refused by them. The police also did not render any assistance. It is submitted by Mr. M.S.Ahluwalia, learned Advocate, that his clients are in possession of the same equipment which is in the custody of the G.S.Sethi & Co. G.S.Sethi is the land lord. In the above view of the matter, the application being GA No.2751 of 2010 is immediately allowed by adding Ravinder Pal Singh as respondent No.3. Such amendment is to be carried out within a week from date. As far as the issues in GA No.2752 of 2010 are concerned, they have to be determined on affidavits.
Therefore, affidavits be filed according to the following directions :- Affidavits in opposition to all the applications mentioned above are to be filed by 20th September, 2010. List these applications on 28th September, 2010, fairly at the top. Affidavit in reply may be filed in the meantime.
However, till disposal of these applications, the interim order already passed is modified to the extent that the added respondents will be permitted to retain the possession of the equipment but will not be allowed to remove the equipment from the place where it is located now.
Receiver already appointed will only take and be in symbolic possession of the equipment. The order of injunction will continue till the disposal of these applications.
All questions are kept open including the question of maintainability. Department, Receiver and all parties concerned are to act on a signed photocopy of this order upon the usual undertakings.