Calcutta High Court
Srei Equipment Finance Ltd vs Virgo Softech Ltd & Anr on 1 April, 2014
Author: Sanjib Banerjee
Bench: Sanjib Banerjee
AP No. 1539 of 2013
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
Original Side
SREI EQUIPMENT FINANCE LTD.
Versus
VIRGO SOFTECH LTD & ANR.
BEFORE:
The Hon'ble JUSTICE SANJIB BANERJEE
Date : April 1, 2014.
Appearance
Mr. Debasish Kundu, Adv.
Mr. Mohit Gupta, Adv.
The Court : It is submitted on behalf of the respondents that during
the pendency of the present petition, a sum of about Rs.60 lakh has been paid. Such position is acknowledged by the petitioner, but the petitioner claims that an amount in excess of Rs.2.25 crore is due only on account of defaulted instalments and without taking into consideration the interest and other charges that are payable under the finance agreement.
The receiver has been able to make an inventory of some of the assets in Delhi, but most of the assets are computer hardware and scattered all over central and northern India.
Since the respondents have made some payment and say that the machines are used for the UID Adhar Scheme and payments are not 2 forthcoming in the election season, let the matter stand over for a fortnight for at least a sum of Rs.50 lakh to be paid by then to ward off a direction on the receiver to take possession of the assets.
Urgent certified website copies of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(SANJIB BANERJEE, J.) sg.