Skbm Mining Project Pvt. Ltd. And ... vs Srei Equipment Finance Ltd. And ...
2021 Latest Caselaw 1597 Cal/2

                                ORDER SHEET




                             APOT OF 202 OF 2021
                                     WITH
                              AP NO.434 OF 2021
                               IA NO:GA/1/2021

                        IN THE HIGH COURT AT CALCUTTA
                         CIVIL APPELLATE JURISDICTION
                                 ORIGINAL SIDE
                             (COMMERCIAL DIVISION)

                 SKBM MINING PROJECT PVT. LTD. AND ANR.
                                  VS.
                  SREI EQUIPMENT FINANCE LTD. AND ANR.

  BEFORE:
  The Hon'ble JUSTICE I. P. MUKERJI
  The Hon'ble JUSTICE ANIRUDDHA ROY
  Date : 14th December, 2021
  (Via Video Conference)

                                                        Appearance:
                                                      Mr. Rupak Ghosh, Adv.
                                                         Mr.Vivek Basu, Adv.
                                                      Mr. Arindam Paul, Adv.
                                                    Ms.Parna Mukherjee, Adv.
                                                                For appellants
                                                 Mr. Swatarup Banerjee, Adv.
                                                Mr. Saubhik Choudhury, Adv.
                                                   Mr. Dripto Majumdar, Adv.
                                                    Ms. Ayusmita Sinha, Adv.
                                                      Mr. Debottam Das, Adv.
                                                              For respondents

The Court : We admit the appeal.

As the point involved is very short, we propose to dispose of it dispensing

with all formalities.

We have examined the impugned judgment and order dated 18th

November, 2021.

We find no ground to interfere with the same and propose to modify it to

give an opportunity to the appellants to pay up the dues of the respondents.

Upon the appellants making payment of Rs.25 lakhs to the respondents

by 20th December, 2021, the receiver will stay his hands till 4th January, 2022

with regard to his taking possession of the subject assets.

In the meantime, it will be open for the appellants to take out an

application before the learned single judge on the basis of the submissions

made by Mr. Ghosh learned counsel for the appellants today in court that the

dues of the respondents are much less than that claimed and that the

admissible dues would be paid up by the appellants or sufficient security

provided to secure the claim.

It may be noted that Mr. Banerjee learned counsel for the respondents

refuted each and every submission of Mr. Ghosh, contending that each

instalment payable included lease rent and GST and that the claim was

properly made by his clients on the appellants.

On that application being made, the learned single judge will consider the

same and decide whether the stay of the order directing the receiver to take

actual physical possession will continue or not. If the appellants are unable to

obtain an order by 4th January, 2022 restraining the receiver to take physical

possession, the receiver shall forthwith take physical possession of the assets

in terms of the impugned order. In default of the appellants making payment of

Rs.25 lakhs by 20th December, 2021, the receiver shall take the same action.

The impugned judgment and order is modified only to the above extent.

The appeal( APOT 202 of 2021) and the stay application( IA NO: GA 1 of

2021) are disposed of by this order.

                                           (I.    P. MUKERJI, J)



                                           (ANIRUDDHA ROY , J)



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