Magma Fincorp Ltd. Vs. Balwinder Kaur Padda and anr. - Court Judgment

Excerpt:
the court : leave is granted under clause 12 of the letters patent subject to the question of its requirement. this is a section 9 application. it is founded on a hire purchase agreement between the petitioner and the respondent no.1. it is moved ex perte on the apprehension that if notice of this application was given to the respondents, they would remove the subject matter of the agreement, which is a vehicle, from the reach of the court. prima facie it appears that there have been defaults in payment of installments by the respondents. the vehicle is located in aurangabad, maharashtra, it is submitted. in the circumstances, i pass an order in terms of prayer (a) of the petition restricted to symbolic possession and inventory only. ms. sujata sengupta, advocate (bar association room no.1) is appointed receiver at a remuneration of 700 gms to be paid by the petitioner initially. i also pass an order in terms of prayer (b) of the petition. i make it clear that the receiver will not interfere with the running of the vehicle at present. i make this application returnable on november 9, 2010. the receiver shall file a report. receiver and all parties concerned are to act on a signed photocopy of this order on the usual undertakings.

Judgment:
The Court : Leave is granted under Clause 12 of the Letters Patent subject to the question of its requirement. This is a section 9 application. It is founded on a hire purchase agreement between the petitioner and the respondent no.1.

It is moved ex perte on the apprehension that if notice of this application was given to the respondents, they would remove the subject matter of the agreement, which is a vehicle, from the reach of the court. Prima facie it appears that there have been defaults in payment of installments by the respondents.

The vehicle is located in Aurangabad, Maharashtra, it is submitted. In the circumstances, I pass an order in terms of prayer (a) of the petition restricted to symbolic possession and inventory only.

Ms. Sujata Sengupta, Advocate (Bar Association Room No.1) is appointed Receiver at a remuneration of 700 Gms to be paid by the petitioner initially. I also pass an order in terms of prayer (b) of the petition. I make it clear that the Receiver will not interfere with the running of the vehicle at present.

I make this application returnable on November 9, 2010. The Receiver shall file a report.

Receiver and all parties concerned are to act on a signed photocopy of this order on the usual undertakings.