Appeal No. 90 of 2013. Case: Bimla Singh Vs Authorised Officer, Allahabad Bank. Allahabad DRAT DRAT (Allahabad Debt Recovery Appellate Tribunals)
| Case Number | Appeal No. 90 of 2013 |
| Counsel | For Appellant: Vipul Pandey, Advocate and For Respondents: Vinay Shanker, Advocate |
| Judges | R.K. Gupta, J. (Chairperson) |
| Issue | Securitisation And Reconstruction of Financial Assets And Enforcement of Security Interest Act, 2002 - Sections 17, 18 |
| Citation | II (2014) BC 38 (DRAT) |
| Judgement Date | August 05, 2013 |
| Court | Allahabad DRAT DRAT (Allahabad Debt Recovery Appellate Tribunals) |
Judgment:
R.K. Gupta, J. (Chairperson)
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The present appeal is preferred under Section 18 of the SARFAESI Act, 2002 challenging the order passed by the Tribunal on 5th February, 2013 in S.A. No. 272/2012, by this order the securitisation application has been dismissed by the Tribunal. The impugned order has been passed by the Presiding Officer, DRT, Jabalpur and on the date of order the Presiding Officer, DRT, Jabalpur was holding the charge of the DRT, Lucknow.
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The relevant facts for the adjudication of the present case are that the appellants are the borrowers and the recovery amounting to Rs. 6,06,725/- with interest was to be effected after issuing the notice of demand dated 23rd April, 2009. The same was not paid and the property was put to auction. The sale proclamation was published on 19th December, 2012. The auction as such was challenged by the appellant by filing the securitisation application under Section 17 of the Act, 2002 before the Tribunal.
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As per the judgment impugned, the Tribunal was of the view that since there was order passed by the Tribunal on 17th December, 2012, was not complied with, therefore, in terms of the judgment passed by the Apex Court in Prestige Light Ltd. v. State Bank of India, VII (2007) SLT 440: III (2007) CLT 296 (SC): 2007 AIR SCW 5330, the appeal is liable to be dismissed with the cost of Rs. 10,000/-.
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Earlier, the appeal was dismissed by the Registrar for not depositing the amount up to the extent of 25% which was mandatory by virtue of Section 18 of the SARFAESI Act, 2002. Thereafter, the appellant moved an appeal-in-chamber for recall of that order, as the amount of 25% was deposited through two Demand Drafts. On appeal-in-Chamber preferred by the appellant, this Tribunal directed to issue the notice to the respondent Bank.
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The said appeal-in-chamber was allowed by this Tribunal by an order dated 4th July, 2013 and the case was directed to be listed for admission on 12th July, 2013. On the said date the learned Counsel for the Bank appeared and it was submitted that the Tribunal below has dismissed the securitisation application on the ground that some order was passed by the Tribunal on 17th December, 2012, wherein certain conditions were imposed. The Tribunal was of the view that the conditions appended to the order dated 17th December, 2012 since were not complied with, therefore, in the light of the judgment passed by the Apex Court in Prestige Lights Ltd. (supra), the securitization application was dismissed.
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Learned Counsel for the appellants submitted that the appellants have not known about the order dated 17th December, 2012 passed by the Tribunal and it is further submitted that no such order was passed by the Tribunal as per the knowledge of the appellants.
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On the basis of the same, the information was sought by the Appellate Authority from the Registrar, DRT, Lucknow. Section Officer, DRT, Lucknow vide his letter dated 18th July, 2013 has intimated to this Tribunal that there was no order dated 17th December, 2012 passed by the Tribunal in the case in hand. Thereafter, the notice was issued to the Presiding Officer, DRT, Jabalpur, who was on the relevant date holding the charge of DRT, Lucknow.
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The record of the Securitization Application No. 272/12 was also sent to the Presiding Officer, DRT, Jabalpur on 23rd July, 2013 so that after perusal of the record, the correct explanation can be offered by the Presiding Officer, DRT, Jabalpur. Thereafter, the Presiding Officer, DRT, Jabalpur has submitted its reply dated 29th July, 2013, which was received to this...
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