R.Bhattacharyya, J. - (1.) -By an agreement of Hire Purchase, dated 19.7.90, the respondent came to possess a Motor Vehicle bearing No. 364052 349770 on the chasis and No. 692 Do 7 360996 on the Engine subject to performance of its terms and conditions embodied in the agreement among which a dispute, if any, to be resolved by the sole arbitrator was one. The respondent succeeded in making part payment of the 10 instalment out of 23 and the total amount thus paid was Rs. 1,26,130.00 in aggregate.
(2.) THE respondent for his lack of financial capability could not square lap the dues payable under the agreement and surrendered the possession of the vehicle inconsequence on 20.10.1992. He requested fervently the financier to recover the dues and the sum if received in excess be paid to the hirer. The financier intimated by its letter dated 22.11.92 to the hirer that the amount could not be recovered as the estimated value or price came down to Rs. 2.8 lakhs demanding further sum from him to pay up the balance.
(3.) THE financier by the letter spoken of booked the hirer with the information to effect sale of the same by him at a higher price. THEreafter, the hirer actuated by an ill motive instituted a title suit claiming restoration of the possession of the vehicle along with other ancillary reliefs among which the appointment of the receiver was one.;