Disposed

M/s Tirth Ram Naresh Kumar And Ors. v. Canara Bank

DRAT10 Jun 2022MISC APPEAL/108/2022

Case brief

AI extract

What is this about?

In an appeal against attachment of properties by a DRT order, the Delhi Debt Recovery Tribunal and Bench while adjourning the appeal, restricted attachment of properties excluding one specific item mentioned in the list and stayed alienation of assets.

What did the court decide?

Stay on attachment of properties other than the one at Serial No.1 till next hearing; appellants prohibited from selling or alienating properties.

M/s Tirth Ram Naresh Kumar And Ors. versus Canara Bank — Insolvency and Bankruptcy | DRAT (2022)

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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI

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Misc. Appeal No.108/2022 Arising out of O.A. No.2993/2017 (DRT-II, Chandigarh)

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M/s Tirath Ram Naresh Kumar & Ors. Vs. Canara Bank

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10.06.2022 Hon’ble Mr. Justice Brijesh Sethi

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Present: Mr. B.S. Nagar, Ld. Counsel for the appellants

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This matter has been taken up by me through Video Conferencing.

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The appellant is aggrieved by the order dated 06.05.2022 passed by the DRT-II, Chandigarh, by virtue of which all the properties mentioned in the application (I.A. No.241/2020) filed by the respondent bank (Annexure A-7 to the appeal) before the DRT have been attached. The learned counsel for the appellants submits that the appellants were not given sufficient opportunity for filing reply.

¶8

The learned counsel for the appellants, pointing out Section 19(13) of the RDB Act, submits that only that property or such portion of the properties claimed by the bank as the properties secured in its favour or otherwise owned by the defendant which is sufficient to satisfy any certificate for the recovery of debt needs to be attached and before that a show-cause notice must be given to the defendants before attaching the properties. The learned counsel for the appellants further submits that the property shown at serial no.1 is sufficient to secure the interest of the bank and, therefore, all other properties, except the property at serial no.1, shown in the list of properties may not be attached.

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Service affidavit has been filed and respondent bank stands served. None has put in appearance on behalf of the respondent bank.

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In these circumstances, list the matter on 28.07.2022. In the meanwhile, it is ordered that except the property mentioned at serial no.1 of the list of the properties (Annexure-7 to the Appeal), any other property be not attached by the Tehsildar concerned till the next date. The learned counsel for the appellants today makes a statement that the appellants will not sell, alienate, dispose of or create any third party interest or right in all these properties till the next date of hearing.

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( CHAIRPERSON )

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-pk

M/s Tirth Ram Naresh Kumar And Ors. v. Canara Bank

Case brief

What is this about?

What did the court decide?

M/s Tirth Ram Naresh Kumar And Ors. v. Canara Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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