Srei Equipment Finance Limited vs Shree Sudama Krishn
2022 Latest Caselaw 292 Cal/2

OD-1

                      IN THE HIGH COURT AT CALCUTTA
                       Ordinary Original Civil Jurisdiction
                                ORIGINAL SIDE
                             (Via Video Conference)

                   IA No. GA/1/2018 (Old No: GA/3005/2018)
                               In EC/406/2016

                     SREI EQUIPMENT FINANCE LIMITED
                                   VS
                          SHREE SUDAMA KRISHN

  BEFORE:
  The Hon'ble JUSTICE RAVI KRISHAN KAPUR
  Date : 4th February, 2022.
                                                                         Appearance:
                                                          Mr. Swatarup Banerjee, Adv.


       The Court : None appears on behalf of the respondent nor is any

accommodation prayed for on their behalf.

This application has been filed for withdrawal or adjustment of the sale

proceeds of the subject asset alongwith accrued interest lying in a fixed deposit

particulars whereof appear at paragraph 6 of the petition.

The decree-holder seeks execution of an award dated 28th August, 2014.

The award is for a sum of Rs.54,29,502/-. Diverse orders have been

passed from time to time in this execution proceeding. It appears that the decree

remains unsatisfied till date. Pursuant to an earlier order dated 11 th February,

2014, passed in AP/92/2014, a sum of Rs.22 lakhs being the sale price of the

subject asset was directed to be paid in a separate interest bearing fixed deposit

account with the decree-holder. The said fixed deposit has been renewed from

time to time.

The decree-holder now seeks adjustment of the sale proceeds alongwith

accrued interest in protanto satisfaction of the decree.

I have heard the submissions made on behalf of the decree-holder and I

am satisfied that in view of the fact that the decree is for a sum in excess of

Rs.54 lakhs and remains unsatisfied till date the orders prayed for be passed.

In view of the aforesaid, there shall be an order in terms of prayer (a) of

this application. The decree-holder is directed to file a supplementary affidavit

and serve a copy thereof on the judgment-debtor to bring on recor the remaining

portion of the decree which remains unsatisfied after adjusting the sale proceeds

of the fixed deposit which was created in terms order dated 11 th February, 2014.

With the aforesaid direction, GA/3005/2018 stands disposed of.

Let EC/406/2016 appear on 3rd March, 2022.

(RAVI KRISHAN KAPUR, J.)

S.Bag