Quashed

Mrs. Shobha Rajgopal Jhamvar v. Shri. Devidas Ramakrishna Pise and Ors.

Bombay HC21 Feb 2014WP/3734/2013

Case brief

AI extract

What is this about?

Writ petitioner, an auction purchaser who deposited Rs. 4 lakh, challenged an order of the Debt Recovery Appellate Tribunal that waived a further deposit for the respondents seeking to waive their own liability. The High Court held that funds deposited by an auction purchaser cannot be considered for such waiver, quashed the impugned order, and restored the application for the Tribunal to decide o

What did the court decide?

Impugned order dated 19 October 2012 was quashed; miscellaneous application restored to DRAT for decision on merits in light of observations.

Mrs. Shobha Rajgopal Jhamvar Vs Shri. Devidas Ramakrishna Pise… — Arbitration | Bombay HC (2014)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELATE JURISDICTION
WRIT PETITION NO.3734 OF 2013

¶5

Shobha Rajgopal Jhamvar

¶6

...Petitioner

¶7

vs.

¶8

Devidas Ramkrishna Pise & Ors. ...Respondents

¶9

Mr.Samir Kumbhakoni and Mr.Nishikant Degaonkar for
the Petitioner

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Ms Geeta Mulekar for the respondent Nos.1 to 3

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CORAM : A.S.OKA, &
 M.S.SONAK, JJ.
DATE : FEBRUARY 21, 2014

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P.C.:

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1Heard the learned counsel for the petitioner
and the learned counsel for the respondent Nos.1 to
3. Notice has been served to the respondent Nos.4
and 5 who have filed a reply supporting the
petitioner.

¶14

2The learned counsel for the respondent Nos.1 to
3 on instructions of the said respondents states
that the said respondents have no objection for
setting aside the impugned order with a direction to
the Debt Recovery Appellate Tribunal to decide the
application for waiver afresh.

¶15

3The petitionerauction purchaser has deposited
a sum of Rs.4,00,000/ with the respondent Nos.4 and
5 in the process of auction.

¶16

¶17

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4The respondent Nos.1 to 3 in appeal preferred
by them under section 17 of the Securitization and
Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002
(hereinafter referred to as the said Act) made an
application under the third provisio to sub section
1 of section 18 of the said Act for grant of waiver
of the amount required to be deposited as a
condition precedent. By the impugned order, after
taking into consideration the amount paid by the
petitionerauctionpurchaser,thelearned
Chairperson of the DRAT has granted waiver.

¶19

5It cannot disputed that the amount paid by the
petitionerauction purchaser to the Bank cannot be
taken into consideration while deciding the
application for waiver made by the respondent Nos.1
to 3.

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6 Hence, we pass the following order:

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(i)Impugned order dated 19^th October 2012 is hereby quashed and set aside;

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(ii)Miscellaneous Application No.381 of 2011 in Appeal No.84 of 2011 is restored to the file of the Debt Recovery Appellate Tribunal;

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(iii)The said application shall be decided by the
Tribunal on its own merits in the light of the
observations made by this Court in this order;

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(iv)The application shall be decided

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expeditiously;

¶26

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(v)Petition is disposed of on above terms.

¶29

(M.S.SONAK,J.)(A.S.OKA,J.)

Mrs. Shobha Rajgopal Jhamvar v. Shri. Devidas Ramakrishna Pise and Ors.

Case brief

What is this about?

What did the court decide?

Mrs. Shobha Rajgopal Jhamvar v. Shri. Devidas Ramakrishna Pise and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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