Citicorp Finance (India) Ltd v. Nitin Zumber Bhandare (Borrower) And ANR

crr40-15.doc sg

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER'S REPORT NO. 40 OF 2015 IN ARBITRATION PETITION NO.758 OF 2013 CitiCorp Finance (India) Ltd.

... Petitioner Vs.

Nitin Zumber Bhandare & Ors. ... Respondents .....

Mr. Sandesh Godse a/w. Mr. Vivek Patil, i/b. Vivek Patil & Associates, for the Petitioner.

Mr. K.K. Trivedi, 1st Assistant to Court Receiver. ....

CORAM : S.C. GUPTE, J.

DATED : 1 APRIL, 2015 P.C. :

.

This Receiver's Report seeks a direction as to whether an offer received for sale of the vehicle should be accepted in terms of prayer clause (a) of the report. Learned Counsel for the Plaintiff submits that during the pendency of the report the third party offerer has withdrawn his offer. Learned Counsel further submits that during the pendency of the Arbitration Petition, the arbitration reference has been disposed of and that there has been an award passed in the matter. Learned Counsel for the Plaintiff seeks discharge of the Court Receiver in the premises. The Court Receiver is discharged subject to payment of charges to be borne by the Petitioner. The cost of the report is awarded in the sum of Rs.3,000/-. The cost to be appropriated from the funds available with the Court Receiver. The Receiver is discharged without Pg 1 of 2

crr40-15.doc passing any award. The Receiver shall handover the possession of the vehicle to the Petitioner.

( S.C. GUPTE, J. ) Pg 2 of 2