This receiver's report addresses a refusal by respondents to act as agents for the court receiver regarding a hypothecated vehicle. The court orders the sale of the vehicle by public auction upon valuation.
Ordered the court receiver to obtain a valuation report and sell the vehicle by public auction; petitioner to bear advertisement costs.
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CRR 408 of 2012
IN THE HIGH COURT OF JUDICTURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER’S REPORT NO.408 OF 2012 IN
ARBITRATION PETITION NO.116 OF 2012
Shriram Equipment Finance Co. Ltd. .....Petitioner Versus
Joju Paul and Ors. …..Respondents
Mr.Dheeraj Bhoria, Manager Legal of the Petitioner. Mr.K.K.Trivedi, 1st Asstt. to Court Receiver.
CORAM: S.J.KATHAWALLA, J.
DATE: 7 th AUGUST 2012
P.C. :
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CRR 408 of 2012
the sale of the said hypothecated vehicle. The possession of the said vehicle is now taken and is in possession of the Petitioner at Kerala. The Respondents have refused to act as agents of the Court Receiver. In view thereof, I pass the following order :
(a) The Court Receiver shall obtain the valuation report qua the said vehicle and shall thereafter, sell the same by public auction.
(b) The cost of the advertisement expenses shall be borne by the Petitioner.
(c) After deducting costs, charges and expenses of the Court Receiver, the sale proceeds shall be paid to the Petitioner and the Petitioner shall be entitled to credit the said sale proceeds in the account of the Respondents maintained by them.
The Court Receiver’s Report is accordingly disposed of.
( S.J.KATHAWALLA, J. )
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Shriram Equipment Finance Co. Ltd.
Joju Paul and Ors.
S.J.KATHAWALLA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
