Calcutta High Court
Srei Equipment Finance Pvt. Ltd vs Rajesh Agarwal & Anr on 12 December, 2013
Author: Sanjib Banerjee
Bench: Sanjib Banerjee
AP No.1271 of 2013
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
SREI EQUIPMENT FINANCE PVT. LTD.
Versus
RAJESH AGARWAL & ANR.
BEFORE:
The Hon'ble JUSTICE SANJIB BANERJEE
Date : 12th December, 2013.
Appearance:
Mr. A. Mitra, Adv.
The Court : There does not appear to be any basis for the present
petition to have been filed, particularly, since the new offer received for sale of the
assets is not a big improvement on the offers that were found to unconscionable
in the order dated August 12, 2013 passed on the previous petition under
Section 9 of the Arbitration and Conciliation Act, 1996.
The petitioner says that the arbitral reference has concluded and the
award is awaited.
In such circumstances, the two assets which cost about Rs.32 lakh
each in the year 2011 cannot be sold at a combined amount of about Rs.8 lakh,
notwithstanding the respondents not showing any interest in the matter.
2
AP No.1271 of 2013 is disposed of without any order. There will be no order as to costs.
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.) bp.