Srei Equipment Finance Ltd vs M/S. Vinod Khanan Pvt. Ltd. And 4 ...
2021 Latest Caselaw 859 Cal/2

OD-73
                                 ORDER SHEET
                      IN THE HIGH COURT AT CALCUTTA
                       Ordinary Original Civil Jurisdiction
                                ORIGINAL SIDE
                             [Via Video Conference]


                                   AP/58/2020

                      SREI EQUIPMENT FINANCE LTD.
                                 Versus
                 M/S. VINOD KHANAN PVT. LTD. AND 4 ORS.


 BEFORE:
 The Hon'ble JUSTICE RAVI KRISHAN KAPUR
 Date : 16th September, 2021

                                   Mr. Raghunath Ghosh, Advocate for petitioner.

        The Court : This is an application under section 9 of the Arbitration

  and Conciliation Act, 1996.

        By an order dated 13th February, 2020 a Receiver had been

  appointed to take possession of the hypothecated assets mentioned in

  paragraph 2 of the petition lying at District Bhiwani in the State of

  Haryana. Pursuant to the order dated 13th February, 2020 the

  Receiver has filed a Report in Court. It appears from the said Report

  that    the   Receiver   could    take   possession   of    only   two   of   the

  hypothecated assets. It further appears from the Report that the

  assets are not in a running condition and the cabin doors of the two

  assets are broken. However, the said assets are still lying in the

  possession of the Receiver.
                                        2




     None      appears   on   behalf   of   the   respondent   nor   is   any

accommodation prayed for on their behalf. The affidavit of service filed

on behalf of the petitioner be kept with the records.

In view of the Report of the Receiver, let there be an order in terms

of prayer [e] for sale of two assets in the possession of the Receiver

upon notice to the judgment debtor. Such sale is to be conducted by

way of public auction or private treaty within a period of four weeks

from date.

Let this matter appear in the monthly list of November, 2021.

In the meantime, the Receiver is directed to file a fresh report and

place the offer/offers on the adjourned date of hearing. The

remuneration of the Receiver for conducting such sale is fixed at 2500

gms. as initial remuneration.

(RAVI KRISHAN KAPUR, J.)

pkd/SK.