P. Mandal, J. - (1.) This application under Sec. 482 of the Code of Criminal Procedure, 1973 is at the instance of a constituted attorney of M/s. Shriram Transport Finance Company Limited and is directed against the order dated 19.03.2009 passed by the learned Additional Chief Judicial Magistrate, Barrackpore, District - North 24 Parganas in G.R. Case No. 236 of 2007.
(2.) The short fact of the case is that the petitioner has been appointed custodian of the two vehicles by the Hon'ble Arbitral Tribunal in March, 2007. The petitioner purchased two vehicles and agreements were held between the petitioner on the one side and the opposite party No. 2 & 3 on the other side in September, 2006 for letting out the said two vehicles on the basis of loan cum hypothecation on terms and conditions as contained in the agreements dated September 14, 2006 between them. The opposite party No. 1 is the loanee and the opposite party No. 2 is the guarantor of the transactions. There was an arbitration clause for settlement of disputes and differences that might arise out of the said loan cum hypothecation agreement. Ultimately, the opposite party Nos. 2 & 3 failed to make payments of the monthly instalments and the amount payable by the opposite party Nos. 2 & 3 was to the tune of Rs. 19,32,287.72 paise and Rs. 14,72,049.00 paise respectively.
(3.) The petitioner sought relief as per arbitration clause and one Sri Aryak Dutta, advocate was appointed as sole arbitrator in respect of both the agreements. Ultimately, the learned Arbitral Tribunal appointed the petitioner as custodian of the said two vehicles. Thereafter, the opposite party No. 2 instituted a suit before the learned City Civil Court at Calcutta being Title Suit No. 256 of 2007 and he filed an application for temporary injunction. The petitioner also filed an application under Sec. 8 of the Arbitration and Conciliation Act, 1996.;