Ckc Star Leathers Private Limited v. Canara Bank And 2 Ors.
Case brief
What is this about?
Appeal under Section 18 SARFAESI Act challenging DRT order quashing. Court considered evidence showing movable assets were never hypothecated and granted interim restraint on removal of such assets.
What did the court decide?
Interim restraint imposed on the respondents from removing the movable assets and plant and machinery till the next date.
What the court decided
A compact analysis
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CAMP COURT AT BHOPAL
I.A. No. 117/2022 and I.A. No. 118/2022 In Appeal Dy. No. 275/2022
Date: 14.06.2022
CKC Star Leathers Pvt. Ltd. Vs. Canara Bank
Present: Shri Sandeep Arora, counsel for the appellant, Shri Jitendra Parmar, Manager (Law), of the respondentBank,
Heard the learned counsel for the appellant.
The present appeal has been filed by the appellant under section 18 of the SARFAESI Act challenging the order dated 04.06.2022 passed by the Presiding Officer, DRT, Allahabad in S.A. No. 505/2019 with prayer for quashing the said order along with interim relief with regard to restraining the respondents from removing movable assets, which were not allegedly hypothecated with the Bank.
Learned counsel for the appellant has drawn attention of this Tribunal towards page no. 432 of the memo of appeal, which is a document of the Bank for showing the assets hypothecated with the Bank, but the said document does not show that any movables have been hypothecated by the appellant with the respondent-Bank. The learned counsel has further drawn attention of this Tribunal towards page no. 504, downloaded from the website of the Ministry of Corporate Affairs, which is annexure 4-A of the memo of appeal and also towards the report of Advocate Commissioner from page no. 526 to 603 to authenticate that the movable assets, which were sought to be sold, were never hypothecated with the Bank.
Issues for consideration
2 issues framed by the court
Whether the appellant is entitled to interim relief restraining the respondents from removing movable assets allegedly not hypothecated.
Whether the condition of pre-deposit for maintaining an appeal under Section 18 of the SARFAESI Act is applicable when the appellant is treated as a third party.
Parties & counsel
- appellant
CKC Star Leathers Pvt. Ltd.
- respondent
Canara Bank
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · June
- CNR
- 091090002752022
- Topic
- Specific Performance
All orders in this case
17 orders share this CNR
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