ABN AMRO BANK v. ICS CLUB MARKETING PVT LTD

1. Whether the reporters of local papers may be allowed to see the judgment? No

2. To be referred to the reporter or not? No

3. Whether the judgment should be reported in the ‘Digest’? No REKHA SHARMA, J. (ORAL) This appeal has been preferred against the order of an Additional District Judge, dated December 15, 2009 on an application filed by the appellant under Order XL Rule I of the Code of Civil Procedure (hereinafter called the ‘Code’) in a suit filed under Order XXXVII of the Code for the recovery of a sum of Rs.7,31,015.14P. The appellant/plaintiff had loaned a sum of Rs.7,15,000/- to the respondent/defendant for the purchase of a vehicle, namely, Tata Safari DICOR LX 4X[2] under the Loan-cum-Hypothecation Scheme of the Bank. The defendant agreed to repay the loan in 60 equated 2010:DHC:343 monthly installments of Rs.16,802/- with interest and agreed to strictly adhere to the repayment schedule. It is stated that the respondent/defendant is in default of as many as 26 installments as on December, 2009 and that is what led the appellant to file the suit before the trial court for the recovery of the outstanding amount. Along with the suit, an application under Order XL Rule I of the Code was also filed on which the learned Additional District Judge simply issued notice for February 04, 2010. Aggrieved by the order so passed, the appellant has preferred the present appeal. It is stated by learned counsel for the appellant that given the conduct of the respondent who has so far made payment of only 3-4 installments, and as of today, a sum of Rs.7,31,015.14P. is outstanding against it, there is every likelihood that the respondent may either sell the vehicle or may otherwise not make the same available. Therefore, it is submitted that the learned Additional District Judge ought to have passed an order allowing the appellant to take possession of the vehicle. Having heard learned counsel for the appellant, I am of the view that the facts and circumstances of the case warrant that the appellant be allowed to take possession of the vehicle. Accordingly, I authorize Mr. Rana Roy, an Officer/Representative of the Bank to take custody of the vehicle Safari bearing No.DL-3CAX-1462 under his charge. The Officer on obtaining possession of the vehicle will issue appropriate receipt to the person from whose custody the vehicle is taken and will also indicate therein the condition of the vehicle and will ensure that the same is kept in safe custody. In case there is resistance from the respondent, the appellant shall be at liberty to take police assistance. With these directions, the appeal is disposed of. Dasti.

REKHA SHARMA, J. JANUARY 20, 2010 PC/ka.