Calcutta High Court
Srei Infrastructure Finance Ltd vs Bhagheeratha Engineering Ltd.& Ors on 4 February, 2009
Author: Patherya
Bench: Patherya
EC No. 16 of 2007
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
SREI INFRASTRUCTURE FINANCE LTD.
Versus
BHAGHEERATHA ENGINEERING LTD.& ORS
For NHAI : Mr. Moloy Ghosh, Adv.
For decree holder : Mr. Pratap Chatterjee, Sr. Adv., Sayantan Bose, Debasis
Kundu, Souvik Chowdhury, Advs.
BEFORE:
The Hon'ble JUSTICE PATHERYA
Date : 4th February, 2009.
The Court : This is an application for execution of an award dated 20th September, 2006. By order dated 20th March, 2007 an order in terms of prayers (a) and (f) of column of Tabular Statement was passed. Subsequently on an application filed by National Highways Authority of India (NHAI) the order dated 20th March, 2007 was stayed by order dated 24th April, 2007. Such stay is continuing till date.
Counsel for NHAI submits that it is only in respect of two equipments namely I/BEML/BD65E-8 bulldozer and 3D Excavator Loader that it has an objection. The said two equipments were pledged to the NHAI under an agreement dated 1st February, 2001. The whereabouts of the bulldozer is not known to the NHAI. A reference is pending between the judgment debtor no.1 and NHAI. NHAI has a right to exercise lien over the said two assets in question. Therefore, the interest of NHAI in respect of the said equipments be protected.
2
Counsel for the decree-holder submits that in view of the order dated 20th March, 2007 being stayed no steps could be taken by the Receiver for either making inventory or taking physical possession of the equipments. In view of the submissions made by counsel for NHAI the order dated 24th April, 2007 be vacated and the party Receiver appointed be discharged in view of the letter dated 5th September, 2008. Upon such discharge a Receiver be appointed over the equipments mentioned in column 10 of the Tabular Statement.
Having considered the submissions of the parties it appears that the only dispute raised is in respect of the bulldozer, the whereabouts of which is not known to NHAI. Therefore, it will enure to the benefit of NHAI if a Receiver is appointed to make inventory and take physical possession thereof. As regards the excavator loader no document of pledge has been annexed to the application being GA no. 1228 of 2007 filed by NHAI nor has any such document been produced today. Therefore, the 3D excavator loader cannot be treated as pledged to NHAI.
Accordingly, the order dated 24th April, 2007 is vacated and Mr. Debraj Bhattacharya, Adv., 2nd Floor, Bar Library Club is appointed Receiver to make inventory of the assets in question and to take physical possession thereof. The Receiver will be entitled to an initial remuneration of 1000 GMs. to be paid by the petitioner. The Receiver will file his report on the next date of hearing. Travel expenses of the Receiver be borne by the petitioner.
It is made clear that in case of resistance the Receiver will be at liberty to seek police assistance and the local Police Authority will render all assistance to the Receiver.
Matter is made returnable six weeks hence.
On filing of a report by the Receiver, NHAI will be entitled to a copy thereof. In GA no. 1228 of 2007 there will be an order in terms of 3 prayer (a). The order dated 24th April, 2007 is vacated and the application is disposed of.
Letter dated 5th September, 2008 be kept on record. Receiver, Superintendent of Police of the local Police Station and all parties concerned are to act on a xerox signed copy of this order on the usual undertakings.
( PATHERYA, J.) kc.
Asstt. Regr. (Ct. Recording)