GORDHAN DAS JAGWANI Vs. PRANAY AGENCIES [P] LTD.

JUDGEMENT

(1.) By order dated September 9, 2006 passed in A.P. No. 21 of 2006, an application under Section 9 of the Arbitration and Conciliation Act , 1996, a learned single Judge of this Court appointed the Receiver to sell certain quantum of iron ore which was the subject matter of dispute between the parties to the said application and was lying at Haldia Port. The said order further directed the Receiver to invest the sale proceeds of the iron ore in a short term fixed deposit of minimum six months with the Standard Chartered Bank, Church Lane Branch until further order.

(2.) In terms of the said order dated September 19, 2006 the Receiver sold 8,000 MTS of iron ore and invested the sale proceeds thereof amounting to Rs.36,20,239/- in a short term fixed deposit, being account no.33630132897 maintained with Standard Chartered Bank, Church Lane Branch(hereinafter referred to as the "said bank"). The said term deposit has been extended from time to time and the same still remains valid. The Receiver maintained another account, being Savings Account No. 33610186061 with the said bank for deposit of the interest earned on the said term deposit.

(3.) On or about July 11, 2017 the petitioner in the application under Section 9 of the Act of 1996 filed an application, G.A. No.2261 of 2017 praying for an order directing the Receiver to file a faithful account before this Court. While the said application was heard up from time to time, the Receiver admitted failure to file the regular accounts in the department as required by the Original Side Rules of this Court. During pendency of application on December 23, 2019 the Receiver passed away leaving behind her husband Mr. Apurba Sikdar and the only son Mr. Arunabha Sikdar. The said heirs and legal representatives of the Receiver have been duly served with copies of this application and orders passed by this Court from time to time. They are represented by Mr. Amitava Paul and Ms. Iti Dutta.