1 mpt IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO. 2084 OF 2008 IN SUIT NO.4260 OF 1999 S.B.I. Home Finance Ltd. .. Plaintiff versus Western Paques India Ltd. & Anr. .. Defendants ... Mr.Tejas Bhide i/b Bhave & Co. for the plaintiff Mr.Mayur Khandeparkar and S.Purohit i/b Kanga & Co. for the defendant no.2 in support of Notice of Motion. Ms.Uma Srivastava, 2nd Asstt to Court Receiver present. CORAM : D.G. KARNIK, J DATED : 16th June 2009 P.C:- 1. Heard learned counsel for defendant no.2 at whose instance motion has been taken out. Counsel for the plaintiff pleads no instructions. 2 2. This motion is taken out by defendant no.2 for discharge of the Court Receiver appointed by this court vide order dated 21st October 1999. 3. The receiver was appointed by the court after hearing the defendant no.2. Therefore, the receiver cannot be discharged on any of the grounds anterior to the date of appointment of the receiver. 4. Learned counsel for defendant no.2 however submits that there is a change of circumstance and therefore receiver needs to be discharged. Counsel invites my attention to paragraph no.9A of the agreement dated 8th December 1993 (Exhibit-A) and submitted that the property in the plant has been transferred to the defendant no.2 after the appointment of the Court Receiver. Clause no.9A of the agreement reads as under:- 9(a) That WPIL shall transfer the plant in good working condition to SIL on the expiry of the term of this Agreement after both the parties have completed their respective obligations as per the provisions of this Agreemet and after all outstandings payable under these presents have been paid for by SIL to WPIL in consideration of the Special Provisions of this Agreement as well as in consideration of a sum of Rs.1,25,000/- payable by SIL to WPIL towards the residual 3 value of the plant and machinery agreed to be transferred by WPIL in favour of SIL at the time of such transfer. Further the site handed over to WPIL pursuant to this Agreement, as hereinbefore mentined, shall also be returned to SIL consequent to the expiry of The terms of this Agreement. Further, six months prior to the transfer of the plant by WPIL to SIL, WPIL shall arrange to impart training to the personnel deputed by SIL for the purpose of start-up, operation and maintenance of the plant on the conclusion of  The term of this Agreement. 5. A bare perusal of clause no.9A shows that there is no automatic transfer of the property in the plant in favour of defendant no.2. On happening of the certain events, defendant no.2 only gets a right to get a plant transferred in its favour. Defendant no.2 would be required to exercise the right, complete part of the contract and get the plant transferred. Defendant no.2 has not got the plant transferred in his name as yet. In the circumstances, contention of the learned counsel for defendant no.2 that defendant no.2 has become the owner of the plant cannot be accepted. There is no change of circumstance whatsoever on this ground. No other change in circumstance is pointed out. Motion is therefore dismissed. (D.G. KARNIK, J)