indusind Bank Ltd. Versus Samir Sharma 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. this application is moved ex parte on the apprehension that if notice of this application is given to the respondents, they will alienate or part with possession of the subject vehicle. it is founded on a hire purchase agreement dated 12th of october, 2006 between the parties. the subject matter of the agreement is a vehicle, whose value is rs.10,20,000/-. the dues of the respondents towards the petitioner is about rs.14,73,000/-. it is submitted that the vehicle is in the custody of the police station and is situated in krishangunj, police station, bihar. arbitration has commenced. since this application is moved ex parte, i pass an order in terms of prayer (a) restricted to inventory and symbolic possession only. i also pass an order in terms of prayer (b) of the petition. i appoint mr. sahidul islam, bar association, room no.14, advocate as receiver at an initial remuneration of 700 gms. to be paid by the petitioner. receiver to file the report by the returnable date. the receiver will be entitled at liberty to appoint an agent but must exercise full control over such agent. the receiver will also be entitled to requisition for police assistance. help of the police may be taken to locate the vehicle. the local police authority is directed to render necessary assistance to the receiver, if so requisitioned by him. the assistance to be rendered by the police will include the necessary help in tracing out the vehicle. i make this application returnable four weeks hence to pass further order. local police station 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. This application is moved ex parte on the apprehension that if notice of this application is given to the respondents, they will alienate or part with possession of the subject vehicle. It is founded on a hire purchase agreement dated 12th of October, 2006 between the parties.

The subject matter of the agreement is a vehicle, whose value is Rs.10,20,000/-. The dues of the respondents towards the petitioner is about Rs.14,73,000/-. It is submitted that the vehicle is in the custody of the police station and is situated in Krishangunj, Police Station, Bihar.

Arbitration has commenced. Since this application is moved ex parte, I pass an order in terms of prayer (a) restricted to inventory and symbolic possession only. I also pass an order in terms of prayer (b) of the petition. I appoint Mr. Sahidul Islam, Bar Association, Room No.14, Advocate as Receiver at an initial remuneration of 700 GMs. to be paid by the petitioner.

Receiver to file the report by the returnable date. The Receiver will be entitled at liberty to appoint an agent but must exercise full control over such agent. The Receiver will also be entitled to requisition for police assistance. Help of the police may be taken to locate the vehicle.

The local police authority is directed to render necessary assistance to the Receiver, if so requisitioned by him. The assistance to be rendered by the police will include the necessary help in tracing out the vehicle. I make this application returnable four weeks hence to pass further order.

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