M/S.Narbheram Finance Co. Ltd. Vs. Rajrndra Yadav and ors. - 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 dated 21st january, 2008 between the petitioner and the respondent no.1. the subject matter of the agreement is an hydraulic excavator, whose value is rs.41,30,000/-due to default in payment of installments by the respondents, the petitioner terminated the agreement on 5th june, 2010. the dues of the respondents towards the petitioner as on 30th june, 2010 is rs.26,59,238/-. arbitrator has not been appointed. affidavit of service has been filed in court. it is submitted that the respondents have been served, which submission is accepted. none appears for the respondents. therefore, on the above prima facie case, i pass an order in terms of prayers (a), (b) and (c) of the petition. i appoint mr. sadananda mondal, bar association, room no. 4 ,advocate as receiver at a remuneration of 700 gms. to be paid by the petitioner to make an inventory of the hydraulic excavator. receiver to file a report by the returnable date. the receiver will be at liberty to appoint an agent but must exercise full control over such agent. the receiver will also be entitled to requisition police assistance. help of the police may be taken to locate the hydraulic excavator. the local police authority is directed to render necessary assistance to the receiver, if so requisitioned by him/her. the assistance to be rendered by the police will include the necessary help in tracing out the hydraulic excavator. i make this application returnable four weeks hence to pass further order. 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 dated 21st January, 2008 between the petitioner and the respondent no.1.

The subject matter of the agreement is an hydraulic excavator, whose value is Rs.41,30,000/-Due to default in payment of installments by the respondents, the petitioner terminated the agreement on 5th June, 2010.

The dues of the respondents towards the petitioner as on 30th June, 2010 is Rs.26,59,238/-. Arbitrator has not been appointed. Affidavit of service has been filed in Court. It is submitted that the respondents have been served, which submission is accepted. None appears for the respondents.

Therefore, on the above prima facie case, I pass an order in terms of prayers (a), (b) and (c) of the petition. I appoint Mr. Sadananda Mondal, Bar Association, Room No. 4 ,Advocate as Receiver at a remuneration of 700 GMs. to be paid by the petitioner to make an inventory of the hydraulic excavator. Receiver to file a report by the returnable date.

The Receiver will be at liberty to appoint an agent but must exercise full control over such agent. The Receiver will also be entitled to requisition police assistance. Help of the police may be taken to locate the hydraulic excavator.

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

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