Calcutta High Court
Tata Capital Financial Services Ltd vs Harjit Singh on 3 July, 2017
Author: I. P. Mukerji
Bench: I. P. Mukerji
ORDER SHEET
AP 461 OF 2017
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
TATA CAPITAL FINANCIAL SERVICES LTD.
Versus
HARJIT SINGH
.........
BEFORE:
The Hon'ble JUSTICE I. P. MUKERJI Date : 3rd July, 2017.
Mr. P. Saha...for petitioner.
Mr.Sujit Saha...for respondent.
The Court : Mr. Sujit Saha appears for the respondent and says that his client instructed him to appear and pray for an adjournment on the ground that he had not been served. An affidavit of service is on record.
Mr. P. Saha for the petitioner clearly shows me from the documents annexed to the affidavit of service that the respondent received a copy of the petition on 17th June, 2017. Therefore, the prayer for adjournment is disallowed.
This is a section 9 application. It is founded on a loan-cum-hypothecation agreement between the parties. The hypothecated asset is mentioned in prayer (a) of the petition. The total amount due and payable by the respondents to the petitioner is stated to be Rs.14.47.840/-. The dues on account of unpaid instalments are Rs.12,99,487/-.
Order in terms of prayers [a] and [b] of the petition. I appoint Mr. Hare Krishna Halder, Advocate, Bar Association, Room No. 4 and Mr. Amitava Ganguly, Advocate, Bar Association, Room No. 4 as the Joint Receivers at a remuneration of 700 GMs each to take actual physical possession of the asset and file a report in this Court on or before 29th August, 2017. The Joint Receivers will be entitled to appoint an authorised agent. They may act jointly or severally. The local police will render assistance to the Joint Receivers, if requested by them.2
However, if the respondent is able to make payment of a sum of Rs.5 lacs to the petitioner by 14th July, 2017, the Joint Receivers' possession will be restricted to symbolic possession only. Till 14th July, 2017 the Joint Receivers will take symbolic possession only. The respondent may use the machinery under the Joint Receivers. If the above amount is not paid by the respondent he shall forthwith take physical possession of the said machinery.
I make this application returnable on 31st August, 2017.
(I. P. MUKERJI, J.) Pkd.