Disposed

Gagan Jain & Ors. v. Bank of Baroda and Ors.

Delhi HC4 Sept 2024W.P.(C)/12328/2024

Case brief

AI extract

What is this about?

Auction purchasers of property sold by Bank of Baroda sought expeditious hearing of the bank's Miscellaneous Appeal 194/2023 pending before DRAT, as DRT-III orders restrained handing over physical possession. The Delhi High Court disposed of the petition directing DRAT to decide the matter promptly, preferably on the next date fixed.

What did the court decide?

Direction to DRAT to decide MA 194/2023 expeditiously, preferably on next date or in near future; parties not to seek unnecessary adjournments; contentions left open.

Gagan Jain & Ors. Vs Bank of Baroda and Ors. — Banking and Recovery | Delhi HC (2024)

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$~40

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- W.P.(C) 12328/2024, CM APPL. 51316/2024, CM APPL. 51317/2024, CM APPL. 51318/2024 & CM APPL. 51319/2024

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GAGAN JAIN & ORS .....Petitioners Through: Mr. Anant Gautam, Mr. Dinesh Sharma, Mr. Kavitoli, Mr. Likivi and Mr. Kushagra Nilesh Sahay, Advocates.

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versus BANK OF BARODA AND ORS .....Respondents Through: Mr. Arun Aggarwal, Mr. Shivam Saini and Mr. Praful Rawat, Advocates for R-1 & 2.

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CORAM: HON'BLE THE ACTING CHIEF JUSTICE HON'BLE MR. JUSTICE TUSHAR RAO GEDELA

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O R D E R % 04.09.2024

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Present writ petition has been filed seeking expeditious disposal of Miscellaneous Appeal No.194 of 2023 pending before Debt Recovery Appellate Tribunal (DRAT).

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Learned counsel for petitioners states that the petitioners are auction purchasers and a sale certificate dated 27^th December, 2022 has been issued in their favour. He however, states that the petitioners have not been handed physical possession of the property till date as the DRT-III, Chandigarh, vide orders dated 03^rd August, 2023 and 19^th August, 2023 in SA 139 of 2023, has restrained the bank from handing over physical possession of the property to the petitioners.

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He states that the said orders dated 03^rd August, 2023 and 19^th August, 2023 have been challenged by the respondent no.1 bank in MA 194 of 2023,

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This is a digitally signed order.

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The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 06/09/2024 at 15:36:49

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which is pending before the DRAT. He further states that vide order dated 13^th October, 2023, DRAT has restrained DRT-III from passing final order in SA 139 of 2023. He states that since then the MA has not been heard by DRAT. He points out that the petitioners had filed an early hearing application being I.A 353 of 2024 but the DRAT issued notice and listed the application for date already fixed, i.e., 26^th April, 2024.

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He states that Central Bank of India has issued a letter dated 31^st July, 2024 stating therein that the account of the petitioners will be declared as NPA due to lack of security perfection and that penal interest of 2% will be charged in addition to the agreed upon rate of interest. He emphasises that the petitioners have been gravely prejudiced due to pendency of MA 194 of 2023.

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During the course of hearing, this Court has been informed that the next date of hearing before DRAT is 24^th September, 2024.

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Accordingly, the present writ petition is disposed of with a direction to the DRAT to decide the matter as expeditiously as possible preferably on the next date of hearing itself or in the near future. The rights and contentions of all the parties are left open.

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The parties to the proceeding are directed not to seek unnecessary adjournments before the DRAT.

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ACTING CHIEF JUSTICE

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TUSHAR RAO GEDELA, J

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SEPTEMBER 4, 2024 kct

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This is a digitally signed order.

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The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 06/09/2024 at 15:36:49

Gagan Jain & Ors. v. Bank of Baroda and Ors.

Case brief

What is this about?

What did the court decide?

Gagan Jain & Ors. v. Bank of Baroda and Ors.

Case brief

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What did the court decide?

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