Appeal No. 18 of 2012. Case: Prithvi Assets Reconstruction and Securitisation Co. Ltd. Vs D. Group International (P) Ltd. and Ors.. Delhi DRAT DRAT (Delhi Debt Recovery Appellate Tribunals)
| Case Number | Appeal No. 18 of 2012 |
| Counsel | For Appellant: Vaibhav Dang and Aseem Swaroop, Advocates and For Respondents: Sanjeev Bhandari and Dhananjay Kumar Singh, Advocates |
| Judges | Ranjit Singh, J. (Chairperson) |
| Issue | Banking |
| Judgement Date | March 23, 2016 |
| Court | Delhi DRAT DRAT (Delhi Debt Recovery Appellate Tribunals) |
Judgment:
Ranjit Singh, J. (Chairperson)
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Appellant herein had filed an appeal against the order whereby S.A. filed by the respondents was allowed. While allowing the S.A., the Tribunal had allowed the Bank to fix the date of NPA and then to proceed ahead in accordance with law. While disposing of this appeal, this Tribunal was of the view that there was hardly any debatable issue which called for any consideration and adjudication. It was held that once the Tribunal below had given liberty to the Bank to fix the date of NPA, while setting aside earlier action on the ground that three different date of NPA had been pleaded by the Bank. The case could have easily proceeded further after fixing the date of NPA and then allowing the Bank to proceed ahead, more so, when the respondents had not come forward to challenge that order. Despite this position, the appeal had remained pending for over a period of three years. This Tribunal, after considering travails of this appeal on different dates, ultimately had held that there was no justification in the view expressed by the Tribunal below that for classifying or declaring the account as NPA any opportunity was required to be afforded to the borrower. The Bank was accordingly asked to fix the date of NPA, which was done as 30.6.2008 and the Bank was given liberty to proceed ahead with the recovery proceedings fixing the date of NPA to be 30.6.2008. If the respondent had any grievance against account being classified as NPA on 30.6.2008, it has to be raised before the Tribunal below. Aggrieved against this order, the respondents herein had filed a writ petition before the Hon'ble Delhi High Court. The High Court, with the consent of the Counsel for the parties and without expressing any opinion on the merits of the matter, has set aside the order dated 19.5.2015 so passed by this Tribunal and has remanded the case back to this Tribunal for fresh hearing. The parties were asked...
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