Tata Motors Finance Limited v. Ranvijay Kumar Singh And 2 ORS

crr 196 of 2016 (905).sxw

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER'S REPORT NO.196 OF 2016 IN ARBITRATION PETITION NO.111 OF 2014 Tata Motors Finance Ltd.

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Petitioner versus Ranvijay Kumar Singh and Ors.

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Defendants Mr. Kingshuk Banerjee i/by M/s. Wadia Ghandy and Co., for Petitioner. Mr. A.

W.Ansari, for Respondents.

Mr. Harcharan Singh Gujral, Offerer, present. Mrs. Pooja Bhaidkar, 2 nd Assistant to Court Receiver, present.

CORAM: S.J. KATHAWALLA, J.

DATE: 10th JUNE, 2016 P.C.:

1.

Perused the valuation report and the Court Receiver's Report. By the above Report, the following relief is interalia sought : (a) whether the offer submitted by Mr. Man Singh in respect of the following two vehicles be accepted and sale by way of private treaty be sanctioned in his favour :

Sr.No. Model (Trailer/Body) Type Chasssis No.

Engine No.

Reg. No. Offer Price ( in Rs.) LPS 3518 Tractor MAT5030 10 CAD 21C63248 BR01GC5 8,05,000/- ssp 1/2

crr 196 of 2016 (905).sxw MHCV BODY Trailer MAT5030 CAD0388 21C63248 BR01GC5 3,20,000/- 2.

The Offer received from Mr. Man Singh is less than the estimated value of the vehicles i.e. tractor and trailer as per the valuation report. However, Mr. Harcharan Singh Gujral, representative of Mr. Man Singh is present in Court. He states that he is now not willing to stand by his offer for the tractor and trailer and is now offering Rs.6,60,000/- for the tractor and Rs.3,00,000/- for the trailer. The Offer of Mr. Man Singh has not come through public advertisement. The Court Receiver is therefore, directed to advertise the sale of the said tractor and trailer. After receiving offers, Court Receiver shall submit his report to this Court. The Court Receiver's Report is accordingly disposed of. The cost of the Report shall be paid by the Petitioner.

( S.J.KATHAWALLA, J. ) ssp 2/2