Srei Equipment Finance Ltd. Vs. Gautam Automobiles Pvt. Ltd. - Court Judgment

SooperKanoon Citationsooperkanoon.com/1143622
CourtKolkata High Court
Decided OnJun-09-2014
JudgeSANJIB BANERJEE
AppellantSrei Equipment Finance Ltd.
RespondentGautam Automobiles Pvt. Ltd.
Excerpt:
in the high court at calcutta ordinary original civil jurisdiction original side ap no.270 of 2014 srei equipment finance ltd.-versusgautam automobiles pvt.ltd.ap no.271 of 2014 srei equipment finance ltd.-versusgautam automobiles pvt.ltd.appearance: mr.s.k.tiwari, adv...for the petitioner. mr.vipul kundalia, adv...for the respondent. before: the hon'ble justice sanjib banerjee date : june 9, 2014. the court : the parties have resolved their immediate disputes with the respondent forwarding three post-dated cheques covering a part of the amount in default in respect of three agreements. it is also submitted by the petitioner that the firs.of the cheques has been encashed upon presentation and the second cheque is due on or about june 30, 2014. in view of the settlement between the parties, a.p.no.270 of 2014 and a.p.no.271 of 2014 are disposed of by restraining the respondents from dealing with or disposing of or alienating or encumbering the assets covered by the two agreements in any manner whatsoever without the previous permission of the petitioner. the injunction will, however, not prevent the respondents from using the assets in the usual cours.of business. the injunction will operate till such time that the respondents’ obligation under the two agreements are discharged. in the event the settlement fails or there is any default committed by the respondents in respect of the settlement terms.the petitioner will be entitled to take appropriate steps in accordance with law. the petitioner says that if the settlement goes through and the defaults are made good, the criminal proceedings instituted by the petitioner in respect of the previous dishonoured cheques would be abandoned or withdrawn. the petitioner says that appropriate steps have already been taken in such regard. there will be no order as to costs. certified website copies of this order, if applied for, be urgently supplied to the parties subject to compliance with all requisite formalities. (sanjib banerjee, j.) a/s.
Judgment:

IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE AP No.270 of 2014 SREI EQUIPMENT FINANCE LTD.-VersusGAUTAM AUTOMOBILES PVT.LTD.AP No.271 of 2014 SREI EQUIPMENT FINANCE LTD.-VersusGAUTAM AUTOMOBILES PVT.LTD.Appearance: Mr.S.K.Tiwari, Adv...for the petitioner.

Mr.Vipul Kundalia, Adv...for the respondent.

BEFORE: The Hon'ble JUSTICE SANJIB BANERJEE Date : June 9, 2014.

The Court : The parties have resolved their immediate disputes with the respondent forwarding three post-dated cheques covering a part of the amount in default in respect of three agreements.

It is also submitted by the petitioner that the fiRs.of the cheques has been encashed upon presentation and the second cheque is due on or about June 30, 2014.

In view of the settlement between the parties, A.P.No.270 of 2014 and A.P.No.271 of 2014 are disposed of by restraining the respondents from dealing with or disposing of or alienating or encumbering the assets covered by the two agreements in any manner whatsoever without the previous permission of the petitioner.

The injunction will, however, not prevent the respondents from using the assets in the usual couRs.of business.

The injunction will operate till such time that the respondents’ obligation under the two agreements are discharged.

In the event the settlement fails or there is any default committed by the respondents in respect of the settlement terMs.the petitioner will be entitled to take appropriate steps in accordance with law.

The petitioner says that if the settlement goes through and the defaults are made good, the criminal proceedings instituted by the petitioner in respect of the previous dishonoured cheques would be abandoned or withdrawn.

The petitioner says that appropriate steps have already been taken in such regard.

There will be no order as to costs.

Certified website copies of this order, if applied for, be urgently supplied to the parties subject to compliance with all requisite formalities.

(SANJIB BANERJEE, J.) A/s.