Tata Capital Financial Services Limited v. Shree Bhagwan Vishwakarma And 2 ORS And Court Receiver (Respondent)

907-chs 1342-18 psv

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION CHAMBER SUMMONS NO.1342 OF 2018 IN ARBITRATION PETITION NO.116 OF 2018 Tata Capital Financial Services Limited ..Applicant In the matter between Tata Capital Financial Services Limited ..Petitioner Vs.

Shree Bhagwan Vishwakarma & Ors.

..Respondents And Court Receiver ..Respondent ----- Mr.Shlok Parekh i/b. M/s.Law Square for Applicant. ----- CORAM :

G.S. KULKARNI, J.

DATE :

19th DECEMBER, 2018 P.C.:

By this Chamber Summons, the applicant/petitioner prays that the Court Receiver, High Court, Bombay, appointed as a Receiver in respect of the mortgaged property as mentioned in the prayer clause be discharged.

2.

By an order dated 3 May 2018 this Court had appointed the Court Receiver as receiver of the said property. The applicant contends that thereafter the respondents approached the applicant and have regularized the loan account and thus, there is no further need for a receiver in respect of the said premises. Accordingly, the applicant seeks discharge of the Court Receiver.

907-chs 1342-18 3.

I have heard learned Counsel for the applicant and also perused the order dated 3 May 2018 and averments as made in the affidavit in support of chamber summons.

4.

In the above circumstances, the receiver is required to be discharged. Accordingly, the chamber summons is allowed in terms of prayer clause (a) which reads thus:- "a) that the Court Receiver, High Court Bombay be discharged in respect of the mortgaged property being Plot No.1776, Sector-23 (Part), Faridabad, Haryana-121005 more particularly described in "Exhibit D" to the Petition without passing of accounts."

5.

The Court Receiver is discharged without passing accounts, however this shall be subject to the payment of necessary fees, charges, etc. as payable to the Court Receiver. The said charges be informed to the applicant within a period of two weeks from today. The payment of charges shall be condition precedent for such discharge. 6.

Chamber summons is made absolute in the above terms. No costs.

[G.S. KULKARNI, J.]