{"id":224653,"date":"2011-06-08T00:00:00","date_gmt":"2011-06-07T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/srei-equipment-finance-pvt-ltd-vs-mr-shantanu-sarkar-and-anr-on-8-june-2011"},"modified":"2018-03-01T14:30:50","modified_gmt":"2018-03-01T09:00:50","slug":"srei-equipment-finance-pvt-ltd-vs-mr-shantanu-sarkar-and-anr-on-8-june-2011","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/srei-equipment-finance-pvt-ltd-vs-mr-shantanu-sarkar-and-anr-on-8-june-2011","title":{"rendered":"Srei Equipment Finance Pvt. Ltd vs Mr.Shantanu Sarkar And Anr on 8 June, 2011"},"content":{"rendered":"<div class=\"docsource_main\">Calcutta High Court<\/div>\n<div class=\"doc_title\">Srei Equipment Finance Pvt. Ltd vs Mr.Shantanu Sarkar And Anr on 8 June, 2011<\/div>\n<div class=\"doc_author\">Author: I. P. Mukerji<\/div>\n<pre>                              AP No. 515 of 2011\n\n                     IN THE HIGH COURT AT CALCUTTA\n\n                 Ordinary Original Civil Jurisdiction\n\n                                ORIGINAL SIDE\n\n\n\n\n                   SREI EQUIPMENT FINANCE PVT. LTD.\n                                 Versus\n                      MR.SHANTANU SARKAR AND ANR.\n\n\n\n      BEFORE:\n\n      The Hon'ble JUSTICE I. P. MUKERJI\n\n      Date : 8th June, 2011.\n\n                                             Mr.Swatarup Banerjee, Adv.,\n                                             for the petitioner.\n                                             Mr.Pradip Kumar Roy, Adv.,\n                                             for the respondent no.1.<\/pre>\n<p>      The Court : This is a Section 9 application.<\/p>\n<p>      It is made after a Section 17 application made by the<\/p>\n<p>petitioner-financier.           The     purpose      of    the   Section     17<\/p>\n<p>application was to obtain possession of an excavator which<\/p>\n<p>was    the      subject   matter        of    the    loan-cum-hypothecation<\/p>\n<p>agreement       between       the     parties.      Although     the    learned<\/p>\n<p>Arbitrator      passed    a    direction      for    a    custodian    to   take<br \/>\n<span class=\"hidden_text\">                                     2<\/span><\/p>\n<p>possession of the excavator, that order could not be carried<\/p>\n<p>out.\n<\/p>\n<p>       Hence, this application. It is submitted that the hirer<\/p>\n<p>has admitted in the counterclaim before the Arbitrator that<\/p>\n<p>Rs.30 lakh was owing by him to the petitioner. The petitioner<\/p>\n<p>wants orders for possession of the excavator.<\/p>\n<p>       From the submissions of the learned Advocate for the<\/p>\n<p>petitioner it appears that the monthly hire of this excavator<\/p>\n<p>is Rs.2,54,400\/-. The learned Counsel for the hirer, however,<\/p>\n<p>submits that this amount was for two equipments, one of which<\/p>\n<p>is not the subject matter of this application.<\/p>\n<p>       Whether the hirer has admitted Rs.30 lakh or not has to<\/p>\n<p>be determined on affidavits. But the fact remains that the<\/p>\n<p>hirer is in possession of the equipment and not paying any<\/p>\n<p>amount for its use.\n<\/p>\n<p>       In those circumstances, I appoint Mr.Netai Chand Manna,<\/p>\n<p>Bar Association as Receiver at an initial remuneration of 700<\/p>\n<p>GMs to be paid by the petitioner to take symbolic possession<\/p>\n<p>of   the   excavator   which   is   located   near   Ruby   Hospital   in<\/p>\n<p>Kolkata without disturbing the possession of the hirer. The<\/p>\n<p>hirer will without prejudice to the rights and contentions of<\/p>\n<p>the parties pay Rs.1,50,000\/- per month from June 2011 to the<br \/>\n<span class=\"hidden_text\">                                   3<\/span><\/p>\n<p>petitioner-financier as hire charges. Such hire charges are<\/p>\n<p>payable by the seventh of the succeeding month. This means<\/p>\n<p>that hire charges for June have to be paid by the 7th of July,<\/p>\n<p>2011. In default, the petitioner will be at liberty to apply<\/p>\n<p>to this Court to take appropriate measure for possession of<\/p>\n<p>the excavator.\n<\/p>\n<p>      Affidavit-in-opposition be filed by 28th June, 2011. List<\/p>\n<p>this application on 12th July, 2011. Affidavit-in-reply may be<\/p>\n<p>filed in the meantime.\n<\/p>\n<p>      I also pass an order of injunction in terms of prayer<\/p>\n<p>(f) till the disposal of this application.<\/p>\n<p>      All parties concerned are to act on a signed photocopy of<\/p>\n<p>this order on the usual undertakings.\n<\/p>\n<\/p>\n<pre>                            (I.       P. MUKERJI, J.)\n\n\nSd\/\n <\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Calcutta High Court Srei Equipment Finance Pvt. Ltd vs Mr.Shantanu Sarkar And Anr on 8 June, 2011 Author: I. P. Mukerji AP No. 515 of 2011 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE SREI EQUIPMENT FINANCE PVT. LTD. Versus MR.SHANTANU SARKAR AND ANR. BEFORE: The Hon&#8217;ble JUSTICE I. P. MUKERJI [&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-224653","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 Equipment Finance Pvt. 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