RAJENDRA KUAMR JAIN Vs. PANKAJ GULATI

JUDGEMENT

(1.) By this notice of motion, the plaintiffs have sought appointment of Court Receiver for safekeeping of an oil painting by Artist K. K. Hebbar, depicting two peacocks, of the dimension of 72" X 30" ("the said painting"). The plaintiffs have also sought an injunction restraining the defendants from dealing with, disposing of, parting with possession of and/or creating, any third party rights in respect of the said painting.

(2.) The 1st plaintiff is the sole proprietor of an Art Gallery known as "Collectors Paradise" and the 2nd plaintiff is the Manager of the said Art Gallery. The 1st defendant is the customer of the plaintiffs. The 2nd defendant is the Export House dealing in export of art and art objects. The 3rd defendant is an international auction house.

(3.) It is the plaintiff's case that in or about January, 2005, the 1st defendant visited the 1st plaintiffs Art Gallery and showed interest in purchasing the said painting. Ultimately, on or about 15th February, 2005, the deal was struck between the 1 st defendant and the 2nd plaintiff on behalf of the 1 st plaintiff for the purchase of the said painting for Rs. 20,00,000/-. The 1st defendant made part payment of Rs. 15,00,000/- and towards the balance payment of Rs. 5,00,000/-the 1st defendant handed over a painting of Artist 'Ara' with an understanding that if the said 'Ara' painting was sold for Rs. 4,00,000/-, then the balance amount of Rs. 1,00,000/- would be paid by the 1st defendant in cash. In the event of the said painting not being sold in 6 months, the 1 st defendant would pay the balance of Rs. 5,00,000/- by cash. According to the plaintiffs, the said understanding was recorded by a letter from the 1st defendant to the 1st plaintiff dated 15th February, 2005, a copy of which is at Exhibit 'A' to the plaint.