TMI Blog2014 (7) TMI 1245X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Court Receiver in respect of the property described in Page Nos. 101 to 106 of the petition. It is made clear that the Court Receiver shall not dispossess respondent No. 1 or any third party found in possession but shall take formal possession until further orders. Till the Court Receiver takes symbolic possession of the property, there shall be ad-interim injunction as prayed in prayer clau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner seeks appointment of the Court Receiver in respect of the mortgaged property described in Exh. I to the petition, interim injunction in respect of the said property and for other reliefs. 2. The petitioner has provided credit facility to the first respondent on 10.7.2009 in the nature of term loan of ₹ 5,00,00,000/- for a tenure of 36 months by way of working capital. Respondent Nos. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulement Agreement effective from 1.10.2012 was executed wherein the respective loans were cumulated and converted into a singular loan amounting to ₹ 31,62,10,130/-. On 7.3.2014, the petitioner issued a demand notice calling upon the respondent to clear the outstanding amount payable under the Re-schedulement Agreement. On 26.6.2014, the petitioner issued a Loan Recall Letter calling upon th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eopardized. Perusal of record prima facie indicates that respondent No. 1 has committed default in making the payment though the installment was rescheduled by the petitioner on the request of respondent No. 1. There is no reply to the demand notice issued by the petitioner. According to the petitioner, the petitioner has to recover a sum of ₹ 35,85,39,403/- as on 9.6.2014 and further intere ..... X X X X Extracts X X X X X X X X Extracts X X X X
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