INDUSLND BANK LTD. Vs. DAYANAND CHOURASIA AND ORS.

JUDGEMENT

(1.) Seeking quashing of order dated 04.02.2013 in Execution Case No. 12 of 2012 whereby the Trial Court declined to entertain the Execution Case No. 12 of 2012 and directed the decree holder to institute a case in the Court of competent jurisdiction, the present writ petition has been filed by the M/s. Indusind Bank Limited.

(2.) The brief facts of the case are that, the petitioner a banking company, is registered under the provisions of Companies Act, 1956 having its regional office at Dhanbad, State of Jharkhand. For purchase of a motor vehicle, AL-HYWA, the respondent No. 1 was granted loan of Rs. 13,30,000/- vide loan-cum-hypothecation agreement No. BH000507H dated 15.11.2005. When the respondent No. 1 failed to repay the loan amount, an arbitration proceeding was started at Kolkata and the learned arbitrator passed award dated 27.11.2009 in Arbitration Case No. AR/IBL/639/09. The petitioner-decree holder filed Execution Case No. 12, of 2012 in the Court of Civil Judge, Senior Division-I at Hazaribagh, in which the impugned order dated 04.02.2013 has been passed.

(3.) The learned counsel for the petitioner submits that the Execution Case was filed for execution of the arbitral award and since the judgment debtor resides and carries on business having immovable property within the local limits of Hazaribagh Court, the said Court has jurisdiction to execute the award. It is further submitted that in view of the provisions in the Code of Civil Procedure also, the arbitral award can be executed at a place where the defendant/judgment debtor resides or carries on business however, this aspect of the matter has been completely ignored by the Trial judge and thus, the impugned order dated 04.02.2013 suffers from serious errors in law in as much as, the learned trial court has declined to exercise jurisdiction vested in it.