Calcutta High Court
Kobelco Construction Equipment India … vs Kv Anand And Anr on 3 August, 2026
OC-20
ORDER SHEET
IN THE HIGH COURT AT CALCUTTA
COMMERCIAL DIVISION
ORIGINAL SIDE
AP-COM/270/2026
KOBELCO CONSTRUCTION EQUIPMENT INDIA PRIVATE LIMITED
VS
KV ANAND AND ANR
BEFORE:
The Hon'ble JUSTICE GAURANG KANTH
Date : 3rd August, 2026.
Appearance:
Mr. Shashwat Nayak, Adv.
Ms. Antalina Guha, Adv.
Ms. Shinjita Ray, Adv.
...For the Petitioner
The Court: - The petitioner has preferred the present application under
Section 9 of the Arbitration and Conciliation Act, 1996, seeking appointment of
a Receiver to take possession of the two assets, namely, two (2) Kobelco SK220
XDLE-10 Excavators, forming part of the subject matter of Loan Agreement No.
188148 dated 08.09.2020, and further seeking an order restraining the
respondent from disposing of, alienating, encumbering, or otherwise dealing
with the said assets.
This Court, by order dated 18th May 2026, had directed that the
respondent, its servants, agents, and assignees be restrained from alienating,
encumbering, parting with possession of, or creating any third-party rights in
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respect of the aforesaid assets. The said interim order, having been extended
from time to time, is hereby extended for a further period of six weeks.
In the meantime, the petitioner has made out a prima facie case. It
appears from the terms of Loan Agreement No. 188148 dated 08.09.2020 that
the petitioner had advanced a loan of Rs. 1,10,50,000/- to the respondent for
purchase of the aforesaid assets. It is further evident from the
recall/termination notice dated 21.06.2023 that a sum of Rs. 1,17,49,776.27/-
remains due and payable by the respondent. This Court is, therefore, prima
facie satisfied that the balance of convenience lies in favour of the petitioner
and that irreparable injury is likely to be caused if the assets are not taken into
possession by a Receiver.
Accordingly, this Court appoints Nr. Dhiman Banerjee, Adv. (Mob. No.
8621987372) as Receiver to take possession of the two (2) Kobelco SK220
XDLE-10 Excavators and to keep them in safe custody, subject to further
orders of this Court.
The Receiver shall be entitled to remuneration of Rs. 50,000/-, in
addition to travelling and other incidental expenses, to be paid in advance.The
petitioner shall depute an authorised representative to assist the Receiver in
identifying and taking possession of the said assets.
The Officer-in-Charge of the concerned police station shall render all
necessary assistance to the Receiver in implementing this order.
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The Receiver shall take possession of the said vehicles and file a report
before this Court on the next returnable date.
List the matter after six weeks.
(GAURANG KANTH, J.)
JM
