Cholamandalam Investment And ... vs Mamoni Naskar And Anr
2023 Latest Caselaw 2261 Cal/2

OD-1
                      IN THE HIGH COURT AT CALCUTTA
                       Ordinary Original Civil Jurisdiction
                                ORIGINAL SIDE

                           EC/239/2022
       CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
                               VS
                     MAMONI NASKAR AND ANR.


  BEFORE:
  The Hon'ble JUSTICE RAVI KRISHAN KAPUR
  Date : 24th August, 2023.
                                                                      Appearance:
                                                          Mr. Paritosh Sinha, Adv.
                                                                  Ms. S. Das, Adv.
                                                           ...for the decree-holder.

                                                    Mr. Shyamal Chakraborty, Adv.
                                                    Mr. Jayanta Kumar Dhar, Adv.
                                                        ...for the judgment-debtors.


       The Court: In view of urgency pleaded on behalf of the decree-holder, the

matter is taken up for hearing.

       This is an application for execution of a decree dated 10 May, 2021. The

decree is for a sum of Rs.31,21,518.59.

       By an earlier order dated 23 August, 2022, a Receiver had been appointed

to take possession of the subject vehicle which forms the subject-matter of the

agreement.    Pursuant to the directions of Court, the Receiver had taken

possession of the subject vehicle.

       However, in an application under Section 34 of the Arbitration &

Conciliation Act, 1996, the respondents had obtained stay of the decree dated 10

May, 2021.

It is submitted on behalf of the decree-holder that by an order dated 26

April, 2023, the application under Section 34 of the Act has been dismissed.

Admittedly, the decree remains unsatisfied till date. The judgement-debtors

have also not filed an application under Section 36(2) of the Act for securing the

awarded amount.

In such circumstances, the Receiver appointed in terms of order dated 23

August, 2022, is directed to take steps for sale of the subject vehicle, possession

whereof is lying with the Receiver.

It is submitted on behalf of the decree-holder that they intend to take

steps against the order dated 26 April, 2023.

Significantly, the order dismissing the application under Section 34 of the

Act was passed as far back as on 26 April, 2023 and the judgment-debtors have

taken no steps till date for restoration of the same. In such circumstances, there

is no embargo in proceeding with the execution application.

The Receiver is directed to take steps for sale of the subject vehicle upon

notice to the judgment-debtors, and subject to confirmation by this Court.

Liberty is granted to the parties to mention this matter before the Regular

Bench.

(RAVI KRISHAN KAPUR, J.)

s.pal