Calcutta High Court
Axis Bank Limited vs Subhranil Banerjee on 3 March, 2020
Author: Ashis Kumar Chakraborty
Bench: Ashis Kumar Chakraborty
O-20 ORDER SHEET
A.P. No. 77 OF 2020
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
AXIS BANK LIMITED
Versus
SUBHRANIL BANERJEE
BEFORE:
The Hon'ble JUSTICE ASHIS KUMAR CHAKRABORTY
Date : 3rd March, 2020.
Appearance:
Mr. Sayan Ganguly, Adv.
Mr. Joydeep Roy, Adv.
Mr. Arijit Dey, Adv.
... for petitioner.
The Court : This is an application under Section 9 of the
Arbitration & Conciliation Act, 1996 as amended by Act 3 of 2016.
From the affidavit of service filed by the petitioner it
appears that the petitioner forwarded copies of the application to
the respondent and the respondent has received the same.
The petitioner claims that in terms of an agreement dated May 22, 2018 (hereinafter referred to as "the said agreement") the respondent obtained financial accommodation to acquire the asset mentioned in paragraph 2 of the application which remains hypothecated to the petitioner. According to the petitioner, the respondent has failed to pay the monthly instalments and as such as on February 4, 2020 Rs.14,16,262/- became due and owing by the 2 respondent to the petitioner. In spite of demands the respondent has failed to pay the said outstanding dues. Thus, the petitioner has terminated the said agreement and filed this application for taking possession of the hypothecated asset through a Receiver.
Considering the materials on record, I find that the petitioner substantiated a case for appointment of a Receiver.
Accordingly, Ms. Jharna Biswas, Advocate of Ladies Bar Association(Room No. 18) is appointed as the Receiver to take possession of the hypothecated asset mentioned in paragraph 2 of the application presently lying at Eden City, Mukundapur.
The petitioner shall pay an initial remuneration of 2000 Gms. to the Receiver and shall also bear the travelling expenses of the Receiver for her visit to the relevant place in the state of West Bengal.
Needless to mention that a competent officer of the petitioner shall all along accompany the Receiver in the state of West Bengal.
If necessary, the Receiver shall approach the Officer-in- charge of the concerned police station for obtaining police assistance to implement this order. If the petitioner deposits the requisite fees with the concerned authorities, the Officer-in- charge of the concerned police station shall render necessary police assistance to the Receiver to take actual physical possession of the hypothecated asset from the respondents. 3
The matter is made returnable on March 17, 2020. The Receiver shall file his report on the next date of hearing.
All parties, including the Receiver and the concerned police authorities shall act on the copy of the certified website copy of this order.
(ASHIS KUMAR CHAKRABORTY, J.) mg