Subhonkar Mondl @ Suvankar Mondal Vs. Tata Motors Finance Ltd - Court Judgment

GA No.1655 of 2014 APO No.184 of 2014 GA No.1654 of 2014 IN THE HIGH COURT AT CALCUTTA Civil Appellate Jurisdiction ORIGINAL SIDE SUBHONKAR MONDL @ SUVANKAR MONDAL Versus TATA MOTORS FINANCE LTD BEFORE: The Hon'ble JUSTICE SANJIB BANERJEE Date : 10th July, 2014.

Appearance: Mr.S.Chakraborty, Adv.Mr.P.Sinha, Adv.The Court : This is an appeal from an order passed under Section 17 of the Arbitration and Conciliation Act, 1996, by the arbitrator.

On June 13, 2014, the appellant agreed to the finance company’s proposal that a sum of Rs.1.10 lakh would be paid on account of the defaulted instalments till the date the possession of the asset was taken over pursuant to the direction of the arbitral tribunal.

The appellant says that a sum of Rs.80,000/- would be paid by him in the next two or three days.

A cheque bearing the date of June 26, 2014 for Rs.30,000/- has been handed over to advocate for the petitioner in Court today.

An affidavit of undertaking has been filed that the cheque would be honoured upon presentation.

The order impugned will stand set aside and the finance company will be obliged to return the vehicle that was taken possession of pursuant to the impugned order of the arbitral tribunal, subject to the encashment of the cheque for Rs.30,000/- made over today and the receipt of a further sum of Rs.80,000/from the appellant.

The reference will then continue in respect of outstanding instalments, if any, and the interest that the finance company would be entitled to for the delayed payment of the previous instalments.

GA No.1655 of 2014, GA No.1654 of 2014 and APO No.184 of 2014 are disposed of without any order as to costs.

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

(SANJIB BANERJEE, J.) bp.