Judgment:
AP No. 616 of 2011
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction L and; T FINANCE LTD.
Versus
DEEPAK COAL DEPOT and; DEEPAK STONE CRUSHER and; ANR. BEFORE:
The Hon'ble JUSTICE SANJIB BANERJEE Date : 14th November, 2011.
Mr. Priyankar Saha, Adv. appears
The Court : The respondents are not represented despite service. The Receiver files a report with a copy made over to the petitioner. The Receiver has made an inventory of the asset that forms the subject-matter of the agreement between the parties. The Receiver remains in symbolic possession of such asset. The petitioner says that the reference is pending. According to the petitioner, the tenure of the agreement has run out but no payment has been tendered by the respondents since the present petition under Section 9 of the Arbitration and Conciliation Act, 1996 was filed.
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The Receiver will continue to remain in symbolic possession of the asset. The petitioner will be at liberty to apply for the receiver to take possession of the asset upon the award being passed in favour of the petitioner. The order of injunction passed earlier is confirmed, subject to the respondents having right to use the asset in the usual course of business and the asset being under the symbolic possession of the Receiver.
The Receiver will continue to remain in symbolic possession of the asset unless discharged by an order passed in appropriate proceedings.
AP No.616 of 2011 is disposed of without any order as to costs. Urgent certified photocopies of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(SANJIB BANERJEE, J.)
kc.
AR(CR)