Axis Bank Limited vs Rizwan Khan & Anr
2023 Latest Caselaw 1945 Cal/2

OD-10
                   IN THE HIGH COURT AT CALCUTTA
                 ORDINARY ORIGINAL CIVIL JURISDICTION
                             ORIGINAL SIDE


                                EC/607/2018


                            AXIS BANK LIMITED
                                    VS
                            RIZWAN KHAN & ANR


 BEFORE:
 The Hon'ble JUSTICE RAVI KRISHAN KAPUR

Date : 8th August, 2023.

Appearance:

Mr. Kaushik Chatterjee, Adv.

...for petitioner.

Mr. Tanoy Chakraborty, Adv.

...for Receiver.

The Court : This is an application for execution of an award dated 18

May, 2014. By the award, the judgment debtors have been directed to pay a

sum in excess of approximately Rs.1.7 crores.

By an order dated 11 July, 2017, an Advocate of this Court had been

appointed a Receiver to take possession of the assets covered by the

agreements. The assets under the agreement are five heavy vehicle trucks.

It transpires during the hearing of this application that the Receiver is

still in a possession of the said trucks and has not taken any effective steps

for sale.

In view of the long passage of time Biswaroop Mukherjee, a member of

the Bar Library Club, is appointed in place and stead of Mr. Tanay

Chakraborty to act as a Receiver in respect of the subject vehicles. The

erstwhile Receiver is directed to file a Report as to the status of the subject

vehicles and the steps, which have been taken by the erstwhile Receiver since

the passing of the order dated 11 July, 2014.

The Receiver shall be paid a remuneration of 2000 gms at the first

instance by the award holder.

Let this matter appear on 28 August, 2023.

(RAVI KRISHAN KAPUR, J.) SK.