{"id":194739,"date":"2011-06-07T00:00:00","date_gmt":"2011-06-06T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/srei-equpiment-finance-pvt-ltd-vs-yoga-narasimha-mines-pvt-ltd-on-7-june-2011"},"modified":"2015-08-11T14:24:35","modified_gmt":"2015-08-11T08:54:35","slug":"srei-equpiment-finance-pvt-ltd-vs-yoga-narasimha-mines-pvt-ltd-on-7-june-2011","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/srei-equpiment-finance-pvt-ltd-vs-yoga-narasimha-mines-pvt-ltd-on-7-june-2011","title":{"rendered":"Srei Equpiment Finance Pvt. Ltd vs Yoga Narasimha Mines &amp; Pvt. Ltd. &amp; &#8230; on 7 June, 2011"},"content":{"rendered":"<div class=\"docsource_main\">Calcutta High Court<\/div>\n<div class=\"doc_title\">Srei Equpiment Finance Pvt. Ltd vs Yoga Narasimha Mines &amp; Pvt. Ltd. &amp; &#8230; on 7 June, 2011<\/div>\n<div class=\"doc_author\">Author: Nadira Patherya<\/div>\n<pre>                                AP No. 464 of 2011\n                          IN THE HIGH COURT AT CALCUTTA\n                           Ordinary Original Civil Jurisdiction\n\n\n  SREI EQUPIMENT FINANCE PVT. LTD.\n        Versus\n  YOGA NARASIMHA MINES &amp; PVT. LTD. &amp; ORS.\n\n\n  For Petitioner: Mr. Utpal Bose, Mr.Swatarup Banerjee\n\n\n\n  BEFORE:\n  The Hon'ble JUSTICE PATHERYA\n  Date : 7th June, 2011.\n\n\n                 The Court : Leave under Clause 12 of the Letters Patent is\n\ngranted.\n\n                 This application has been filed under Section 9 of the Arbitration\n\nand Conciliation Act, 1996.\n\n                 The case of the petitioner is that under an agreement dated 30th\n\nJune, 2010 the asset mentioned in Schedule VIII of the agreement was financed\n\nby it. The financed amount was to be repaid in 18 instalments and except for two\n\ninstalments no further instalment has been paid. Letter of termination was\n\nissued on 14th April, 2011 and the intent to go to arbitration is evidenced as\n\narbitration proceedings have commenced. For non-payment of the balance sum\n\nthis application has been filed and orders sought.\n\n                Inspite of service none appears on behalf of the respondents.<\/pre>\n<p>Affidavit of service filed be kept on record.<br \/>\n<span class=\"hidden_text\">                                            2<\/span><\/p>\n<p>                  Having considered the facts of the case as arbitration proceedings<\/p>\n<p>have commenced and there is every possibility of the asset being dissipated<\/p>\n<p>and\/or encumbered entitles the petitioner to an order in terms of prayer (f) of the<\/p>\n<p>Notice of Motion till 27th June, 2011. Mr. Goutam Dinda, Advocate, Bar<\/p>\n<p>Association Room No.1 is appointed Receiver at an initial remuneration of 300<\/p>\n<p>GMs to be paid by the petitioner to make an inventory of the asset in question<\/p>\n<p>and take physical possession of the same. A report in this regard be filed on the<\/p>\n<p>returnable date. Needless to mention that all expense of the Receiver be borne by<\/p>\n<p>the petitioner.\n<\/p>\n<p>                  Another reason for passing this order is except for two instalments<\/p>\n<p>no further instalment has been paid by the respondents and letter of termination<\/p>\n<p>has also been issued.\n<\/p>\n<p>              Matter is made returnable on 23rd June, 2011.<\/p>\n<p>              Receiver and all parties concerned are to act on a phoptostat signed<\/p>\n<p>copy of this order on the usual undertakings.<\/p>\n<p>                                                    ( PATHERYA, J.)<\/p>\n<p>pa\n <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Calcutta High Court Srei Equpiment Finance Pvt. Ltd vs Yoga Narasimha Mines &amp; Pvt. Ltd. &amp; &#8230; on 7 June, 2011 Author: Nadira Patherya AP No. 464 of 2011 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction SREI EQUPIMENT FINANCE PVT. LTD. Versus YOGA NARASIMHA MINES &amp; PVT. LTD. &amp; ORS. For Petitioner: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,8],"tags":[],"class_list":["post-194739","post","type-post","status-publish","format-standard","hentry","category-calcutta-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Srei Equpiment Finance Pvt. Ltd vs Yoga Narasimha Mines &amp; Pvt. 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