Citicorp Finance (India) Ltd. v. Sandesh L. Kerekar And Mayur R. Kulangutkar

933-CRR-443-2025.odt rajshree

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER REPORT NO.443 OF 2025 IN ARBITRATION PETITION NO.1177 OF 2010 Citycorp Finance (India) Ltd.

....Petitioner vs.

Sandesh L. Kerekar & Anr.

....Respondents Ms.Rahila Memon i/b S.I. Joshi & Co. for the Petitioner. Mr.N.C. Pawar, Court Receiver a/w Mr.Swayam Chopda, OSD to Court Receiver, present.

CORAM : BHARATI DANGRE, J DATE :

18th DECEMBER, 2025 P.C.

The Court Receiver has sought discharge in this matter. The Court Receiver informs that copy of Court Receiver's Report has been supplied to the learned Advocates for petitioner on their email ids available with the office of Court Receiver. Advocate Ms. Rahila Memon, who is for Petitioner has no objection if the Court Receiver is discharged. In this matter, the Court Receiver was appointed in respect of hypothecated vehicles/ assets. According to the Court Receiver's Report, the Court Receiver could not take possession of the hypothecated assets/vehicle as the exact location of these by RAJSHREE KISHOR MORE Date:

2025.12.23 11:48:05 +0530 RAJSHREE KISHOR MORE 1/2

933-CRR-443-2025.odt vehicles were not provided by the petitioner, his representative and/or his advocate.

According to the Court Receiver's Report, there has been no further correspondence or communication on part of the petitioner. As a result, no action is taken by the Court Receiver. The matter is simply pending.

Considering the circumstances, the Court Receiver's Report deserve to be allowed in terms of prayer clause (a) and (b), which reads thus :

(a) The Hon'ble Court may pleased to discharge the Court Receiver, High Court, Bombay without passing of Account after payment of Costs, charges and expenses of Court Receiver within a stipulated period as may be directed by the Hon'ble Court; (b) Costs of this report may be quantified at Rs.5,000/- and Petitioner may be directed to deposit the said amount with the Court Receiver.

In the wake of above, CRR No.443/2025 stands disposed of. [BHARATI DANGRE, J] 2/2