Calcutta High Court
Phaethon International Sa vs Lords Polymer (India) Pvt. Ltd on 27 January, 2016
Author: Harish Tandon
Bench: Harish Tandon
ORDER SHEET EC No.604 of 2015
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
PHAETHON INTERNATIONAL SA
Versus
LORDS POLYMER (INDIA) PVT. LTD.
BEFORE:
The Hon'ble JUSTICE HARISH TANDON
Date : 27th January, 2016.
Appearance Mr. Sakya Sen, Advocate.
This is an application for execution of a foreign award. At the time of taking up the execution application an order of injunction had been passed restraining the judgement-debtors from alienating and/or transferring and /or disposing of the properties of the properties and assets mentioned in paragraph 26 of the affidavits in respect of the Tabular Statement. Further direction was passed to serve the copy of the application upon judgement- debtors. On the returnable date, there was no representation on behalf of the judgement-debtors despite service. An opportunity to file affidavits of assets in prescribed format was provided to the judgment debtors. Today, neither the judgement-debtors are present nor affidavits of assets are filed in terms of the order dated 25th August, 2015.
The learned Advocate appearing for the decree-holder submits that despite having suffered a decree, the judgment debtors are using the properties and enjoying the usufructs therefrom. It is submitted on behalf of 2 the decree-holder that through the order of injunction has been passed there is every chance that the recovery of the decretal amount may be frustrated.
This Court, therefore, feels that it is the just and convenient that the Receiver should be appointed to take the symbolic possession of the properties mentioned in paragraph 26 of the affidavit in support of the Tabular Statement.
Mr. Nara Narayan Ganguly, Advocate, Bar Association, Room No.10, is appointed as Receiver to take the symbolic possession of the properties. The receiver shall be entitled to remuneration of 1500 GMs to be paid by the decree-holder and shall file his report on the returnable date.
The matter is made returnable on 17th February, 2016 (HARISH TANDON, J.) nm