Disposed

Ms Kapsons Engineers Pvt. Ltd. and Ors. v. Idfc First Bank Ltd. & Anr.

DRAT15 Sept 2022MISC APPEAL/29/2022

Case brief

AI extract

What is this about?

This order passes a direction for the removal of seized inventory goods by the appellants within a specific timeframe. It approves a proposal regarding warehouse rent, transport logistics, and the sharing of Local Commissioner's fees between the parties.

What did the court decide?

Appellants directed to remove goods between 18th and 27th September 2022 in presence of Local Commissioner. Appellants to bear expenses. LC fee fixed at Rs.3 lacs jointly.

Ms Kapsons Engineers Pvt. Ltd. and Ors. versus Idfc First… — Execution and Attachment | DRAT (2022)

¶1

DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI

¶2

Misc. Appeal No. 29/2022 Arising out of T.S.A. No. 53/2021 (DRT, Jaipur)

¶3

M/s Kapsons Engineers Pvt. Ltd. & Ors. Vs IDFC First Bank Ltd. & Anr.

¶4

15.09.2022 Hon’ble Mr. Justice Brijesh Sethi

¶5

Present: Mr. Rajeeve Mehra, Ld. Sr. Advocate along with Mr. Rajat Katyal, Ld. counsel for appellants

¶6

Ms. Ridhi Pahuja, proxy for Mr. Sanjeev Singh, Ld. counsel for respondent no.1 bank

¶7

Mr. Sanjiv Kakra, Ld. Sr. Advocate along with Ms. Nidhi Mohan Parashar, Ld. counsel for respondent no.2

¶8

Ms. Shubham Mahajan, Local Commissioner

¶9

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

¶10

A fresh proposal dated 14.09.2022 for removal of the articles has been

¶11

filed by respondent no.2 without prejudice to its rights and contentions. The proposal is to the following effect:-

¶12

The appellants shall withdraw the objections filed on their behalf to the Final Report dated 29.08.2022 of the Hon’ble Local Commissioner.

¶13

The appellants to remove the inventory from 15.09.2022 to 21.09.2022. This may be done in the presence of the Hon’ble Local Commissioner.

¶14

The appellants will not raise any further objections or ask for extension after 21.09.2022. The appellants consent that after midnight of 21.09.2022, the respondent no.2 will transport the entire pending inventory to a warehouse (taken on rent by respondent no.2 in the name of the respondent no.1 bank)

¶15

The warehouse to be under the watch of the respondent no.1 bank and the appellants.

¶16

The rent is to be paid by the respondent no.2 only for one month and thereafter it would be the responsibility of the respondent no.1 bank. All expenses towards the rent and transport to be reimbursed by the respondent no.1 bank/appellants

¶17

So far as point no.1 is concerned, the learned senior counsel for appellants states that he has no objection.

¶18

-: 2 :-

¶19

So far as point no.2 is concerned, the learned senior counsel for appellants states that the dates 15.09.2022 to 21.09.2022 are required to be changed as the order is yet to be typed and signed and today is already 15^th September, 2022.

¶20

Regarding point no.3, the learned senior counsel for appellants submits that he has no objections to the same except that the dates need to be changed. Learned counsel for the respondent no.1 bank states that warehouse should be taken on rent either in the name of respondent no.2 or in the name of the appellants and not in the name of the bank.

¶21

In respect of point no.4, the learned senior counsel for the appellants states that he has no objection to the same. The learned counsel for respondent no.1 bank, however, states that the warehouse be under the watch and supervision of appellants only.

¶22

So far as point no.5 is concerned, the learned counsel for respondent no.2 states that rent of the warehouse for the first month and transportation and logistics charges will be borne by respondent no.2, but it will have to be reimbursed by the appellants. He further states that the rent from second months onwards will be the responsibility of the appellants. Learned counsel for the appellants agrees to it and says that reimbursement will be made against receipt and vouchers.

¶23

In view of the above proposal and with the consent of the parties the following order is passed:-

¶24

The appellants shall withdraw the objections filed on their behalf to the final report dated 29.08.2022 qua the Local Commissioner.

¶25

The appellants shall start removal of the goods from Sunday, the 18^th September, 2022 and will finish it on Tuesday, the 27^th September 2022 in the presence of the Local Commissioner.

¶26

The appellants will not ask for extension of time after 27^th September, 2022. The appellants agree that after midnight of 27^th September 2022, the respondent no.2 will transport the entire pending goods to a warehouse taken on rent.

¶27

The warehouse where goods are to be shifted will be taken on rent by respondent no.2 in its own name for the first month and thereafter it will be taken over by the appellants in their own name and it will be the responsibility of appellants to pay the rent or to shift the same to some other place.

¶28

-: 3 :-

¶29

All expenses towards rent, transport and logistics will be reimbursed by the appellants to respondent no.2.

¶30

The Local Commissioner is directed to be available at the site from 10.30 a.m. to 6.30 p.m. on all days from 18^th to 27^th September, 2022 without fail. The fee of the Local Commissioner is fixed @Rs.3 lacs, out of which Rs.50,000/- will be paid by the respondent no.1 bank and Rs.50,000/- will be paid by respondent no.2 and rest of the fee will be paid by the appellants. 50% of the Local C8ommissioner’s fee will be paid in advance and the rest after completion of the job.

¶31

The learned counsel for the appellants states that certain articles are missing and a list of the same has been placed on record before this Tribunal. The said list is, however, disputed by the learned counsel for the bank. Heard. The dispute will be decided during the course of hearing in the appeal in accordance with law. It is further directed that the representatives of the appellants, respondent no.1 and respondent no.2 will be present at the time of removal of the goods and a detailed inventory of each and every article will be prepared and the same will be counter signed by the Local Commissioner.

¶32

The Local Commissioner shall file her report within a week after finishing the assigned work, with advance copy to the learned counsel for the parties.

¶33

List the appeal for hearing on application for waiver of pre-deposit on 03.11.2022.

¶34

(CHAIRPERSON)

Ms Kapsons Engineers Pvt. Ltd. and Ors. v. Idfc First Bank Ltd. & Anr.

Case brief

What is this about?

What did the court decide?

Ms Kapsons Engineers Pvt. Ltd. and Ors. v. Idfc First Bank Ltd. & Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

All orders in this case

Similar cases

Surjit Singh Bhalla and Ors. versus Development Credit Bank Ltd.

Ms Aradhana Wines & Ors. versus State Bank of India

Ms Ad Wines and Ors. versus State Bank of India

Allahabad Bank versus Maruti Products Pvt. Ltd. and Ors.

Union Bank of India versus M/s Geetanjali Advertisers and Ors.

Lumax Auto Technologies Ltd. versus Doha Bank Qsc