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Judgment
The Court : This is an application under section 9 of the Arbitration and Conciliation Act, 1996, as amended by Act 3 of 2016.
From the affidavit-of-service filed on behalf of the petitioner, it appears that copy of the application has been served upon the respondent. However, none appears on behalf of the respondent to oppose this application. Accordingly, this application is taken up for hearing in the absence of the respondents.
It is the case of the petitioner that in terms of the lease agreement dated May 15, 2017 entered into between the parties, the respondent obtained certain assets on hire from the petitioner. The respondent has, however, after paying the only first seven monthly rentals defaulted in making payment of the subsequent monthly rentals. As on the date of filing of this application more than Rs.22 lakh remains outstanding tot he petitioner. Accordingly, the petitioner was entitled to and terminated the master least agreement dated May 15, 2017 and filed this application for taking possession of the assets mentioned in paragraph 2 of the petition.
Considering the statements made in the application, I find that the petitioner has made out a prima facie case for obtaining interim order.
Accordingly, Mr. Tapas Ghoshal, Advocate, Bar Association Room No.5 is appointed as the Receiver to take possession of the assets mentioned in paragraph 2 of the petition. After taking possession of the hypothecated asset, the Receiver shall keep the same at a safe place to be provided by the petitioner.
The Receiver shall be paid an initial remuneration of 1800 GMs by the petitioner. The petitioner shall also bear the travelling expenses of the Receiver and provide him with a befitting accommodation at the relevant places. Needless to mention that a competent officer of the petitioner shall all along accompany the Receiver.
If necessary, the Receiver shall approach the Superintendent of Police of the concerned district for obtaining police assistance to implement this order. If the petitioner deposits the requisite fees with the concerned authorities, the Superintendent of Police shall render necessary police assistance to the Receiver to take actual physical possession of the hypothecated asset from the concerned respondent.
Let, this application appear, under the same heading, after six weeks. The Receiver shall file his report on the next date of hearing.
Urgent certified website copies of this order, if applied for, be supplied to the petitioner upon compliance with all requisite formalities.
The Receiver and all concerned parties, including the Police Authorities shall act on certified website copies of this order.