Disposed

R K Enterprises v. Pegasus Assets Reconstruction Private Ltd. and Anr.

DRAT22 Dec 2022MISC APPEAL/320/2022

Case brief

AI extract

What is this about?

The Debts Recovery Appellate Tribunal directed the District Recovery Tribunal to expedite the appeal listed for 30.01.2023. The Tribunal granted a conditional stay on taking possession of the property if the appellant deposits a further sum of Rs. 15 lakhs by 16th January 2023 and authorized the release of an existing Rs. 27 lakh pre-deposit to the respondent.

What did the court decide?

Stay on possession conditional on deposit of Rs. 15 lakhs; release of Rs. 27 lakh pre-deposit to respondent; direction to DRT to dispose appeal by 30.01.2023.

R K Enterprises versus Pegasus Assets Reconstruction Private… — Landlord and Tenant | DRAT (2022)

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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI

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Misc. Appeal No.320/2022 Arising out of S.A. No.585/2022 (DRT-I, Delhi)

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M/s R.K. Enterprises and & Anr. Vs.

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Pegasus Assets Reconstruction Private Ltd. & Anr.

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22.12.2022 Hon’ble Mr. Justice Brijesh Sethi

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Present: Mr. Priyanshu Upadhyay, Ld. counsel for appellants

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Mr. Kaushik Mishra, Ld. counsel for respondent no.1

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This matter has been taken up by me through Video Conferencing on being mentioned by the learned counsel for the appellants in view of urgency.

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This is an appeal filed against the order dated 21.12.2022 passed by the learned DRT.

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Learned counsel for the appellants prays for staying the taking over the physical possession of the property in question. The learned counsel for the appellants states that he has deposited Rs.27 lakhs towards pre-deposit with this Tribunal which may be released to the respondent no.1. He further submits that another sum of Rs.15 lakhs will be deposited with the respondent no.1 on or before 16^th January, 2023.

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The learned counsel for the appellants states that the matter before the learned DRT has been listed for 30.01.2023 and it may be directed to hear the S.A. and dispose it of as expeditiously as possible.

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Learned counsel for the appellants states that since the matter before the learned DRT has been listed before the learned Registrar of the DRT on 30.01.2023, he will move appropriate application requesting him to list the same before the learned Presiding Officer on 30.01.2023 on the basis of this order.

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Learned counsel for the respondent no.1 has no objection to the same.

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In view of above, the learned DRT is hereby directed to take up the matter on 30.01.2023, and if not possible to take up the same on the said date, then to take it up immediately thereafter, and dispose it of as expeditiously as possible.

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Registrar of this Tribunal is directed to release the amount of Rs.27 lacs deposited by the appellant with this Tribunal to respondent no.1 within seven

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-: 2 :-

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days and hand over the DD to Ms. Priyanka Narang, Sr. Manager (Legal) (Mobile No.8586924085) . Let the appellant deposit Rs.15 lacs as undertaken above with the respondent no.1 on or before 16^th January, 2023. In case the appellants deposits the amount as undertaken, the respondent no.1 will not take the possession of the property in question till the S.A. is decided by the learned DRT. In case of default in making the above payment, the bank may proceed and take possession of the property in question through the same receiver.

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With the above direction, the appeal stands disposed of.

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File be consigned to record.

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(CHAIRPERSON)

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-pk

R K Enterprises v. Pegasus Assets Reconstruction Private Ltd. and Anr.

Case brief

What is this about?

What did the court decide?

R K Enterprises v. Pegasus Assets Reconstruction Private Ltd. and Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

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