CLIX CAPITAL SERVICES PVT LTD vs VISALAKSHI V & ORS.

Judgment text excerpt

$~13 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision: 08th May 2025 + O.M.P.(I) (COMM.) 16/2025 & I.A. 1130/2025 CLIX CAPITAL SERVICES PVT LTD .....Petitioner Through: Mr. Puneet Raj Banderwal, Advocate. versus VISALAKSHI V & ORS. .....Respondents Through: None. CORAM: HON'BLE MS. JUSTICE JYOTI SINGH JUDGEMENT JYOTI SINGH, J. (ORAL) 1. This petition is preferred on behalf of the Petitioner under Section 9 of the Arbitration and Conciliation Act, 1996 (‘1996 Act’) seeking a direction to appoint Shri Samuel J. Biju, Officer of the Petitioner Company, as Receiver to take over possession of the finance medical equipment mentioned in the petition from the possession of the Respondents and to restrain the Respondents from encumbering the equipment in any manner. 2. Petitioner is a Company engaged in business of advancing/financing loan to the borrowers and is also registered as a Non-Banking Financial Company. Respondent No. 1 approached the Petitioner for financial assistance for purchase of machines/medical equipment under a loan, representing that Respondents were financially sound and will repay the loan regularly as per the instalments schedule. Based on the representation, Petitioner sanctioned Medical Equipment Loan on 24.07.2023 for a sum of Rs. 2,45,33,613/-. Signature Not Verified O.M.P.(I) (COMM.) 16/2025 Page 1 of 7 Digitally Signed By:KAMAL KUMAR Signing Date:10.05.2025 19:21:06 3. It is averred that Respondents executed the Facility-cum- Hypothecation Agreement (‘FHA’) dated 24.07.2023 along with other documents and the loan was disbursed on 25.07.2023, repayable in 75 monthly instalments of Rs. 5,17,789/- and medical equipment were purchased by the Respondents. It was agreed by the Respondents that to secure the loan, they shall provide additional