MONIKA BHALLA Vs. HDFC BANK LIMITED

JUDGEMENT

(1.) By way of the present appeal, appellant has challenged the order dated 27th April, 2009 passed by Addl. District Judge, Delhi, vide which Receiver was appointed with direction to take custody of commercial vehicle, that is, Volvo bus, bearing registration No. DL 1PB 8497.

(2.) Brief facts of this case are that, respondent financed a sum of Rs. 59 lacs to the appellant for purchase of the above mentioned vehicle on execution of certain documents. In pursuance to the loan agreement, appellant agreed to adhere to the repayment schedule and the vehicle was hypothecated with the respondent. As per agreement, loan was to be repaid in 47 installments of Rs. 1,49,233/ - each.

(3.) As per appellant's own case, 33 instalments have been paid and 14 instalments are due in the future.