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

DRAT10 Jun 2022MISC APPEAL/29/2022

Case brief

AI extract

What is this about?

The Tribunal granted a stay on the DRT order requiring removal of goods within 15 days. A Local Commissioner reported that inventorying the large premises (approx. 2 lac sq.ft) would take 45-60 days, necessitating specific arrangements for electricity, manpower, and transport.

What did the court decide?

Stay granted on the order dated 31.05.2022 requiring removal of goods within 15 days until the execution of the commission is complete.

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

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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI

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

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

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10.06.2022 Hon’ble Mr. Justice Brijesh Sethi

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Present: Mr. Harsh Sinha, Ld. Counsel for the applicants/appellants

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Ms. Ridhi Pahuja, Proxy counsel for the respondent bank

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This matter has been taken up today by me through Video Conferencing on mentioning by the learned counsel for the applicants/appellants in view of urgency.

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I.A. No.289/2022

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This application has been filed with the following prayer:-

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a. Pass appropriate directions staying the operation of order dated 31.05.2022 passed by Ld. Presiding Officer, DRT, Jaipur in TSA No.53/2021, till the execution of the commission (as appointed by this Hon’ble Tribunal vide order dated 21.04.2022 is complete; and/or

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b. Pass such other order(s) as this Hon’ble Tribunal may deem fit in the interest of justice.”

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Ms. Ridhi Pahuja is present on behalf the respondent bank on advance notice of the application. None is present for the respondent auction purchaser, though learned counsel for the applicants/appellants states that advance notice has been served upon the auction purchaser also.

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As per the order passed dated on 31.05.2022 by the DRT, the appellants are to remove the goods from the premises in question within 15 days and if these are not removed, the bank has been given liberty to make appropriate inventory and sell the same by way of auction. Vide order dated 21.04.2022, this Tribunal had appointed a Local Commissioner to visit the property in question of the appellants and oversee the removal of the movable articles belonging to the appellants after making an inventory. The Local Commissioner has filed a Preliminary Report with this Tribunal on 18.05.2022 wherein she has stated that the premises is so large/vast in

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-: 2 :-

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area, i.e. approx. 2 lacs sq.ft and it will take approx. 45 to 60 days to do inventory, check, count and remove the stuff from the premises. She has further stated that it is advisable for the appellant to make appropriate arrangement such as electricity connection, man power, transportation, hygiene etc. for the said purpose. In these circumstances, the order dated 31.05.2022 of the learned DRT is stayed till the next date of hearing.

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The appellant will make necessary arrangement for the provision of electricity, sufficient manpower, transportation, hygiene etc. for the execution of the job and respondent bank will also extend all possible help for the same.

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I.A stands disposed of.

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List the matter on 25.07.2022, the date already fixed.

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( CHAIRPERSON )

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-pk

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

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