Judgment:
The Court : This is a Section 9 application. It is founded on a hire purchase agreement dated 22nd September, 2007, between the petitioner and the respondent No.1. The subject matter of the agreement is an equipment, whose value is Rs.38,70,000/-.
Due to default in payment of installments by the respondents, the petitioner terminated the agreement on 23rd November, 2009. The dues of the respondents towards the petitioner as on 23rd November, 2009, was Rs.36,17,663/-.
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. Ashok Nandy, Advocate, Bar Association Room No.2, 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 entitled 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 necessary help in tracing out the equipment. I make this application returnable four weeks hence to pass further order.
Receiver and all parties concerned are to act on a signed photocopy of this order upon the usual undertakings.