Disposed

Hdfc Bank Ltd. v. Ms Chandraudai Automobiles Pvt. Ltd.

DRAT17 Aug 2022MISC APPEAL/56/2022

Case brief

AI extract

What is this about?

The Tribunal disposed of the bank's appeal. Instead of an authorized officer, an advocate was appointed as Receiver to take possession under Section 13(4) of the SARFAESI Act with police assistance. Parties were directed to sit for settlement discussions.

What did the court decide?

Appointment of Ms. Arti Bhatnagar, Advocate as Receiver; parties directed to sit for settlement.

Hdfc Bank Ltd. versus Ms Chandraudai Automobiles Pvt. Ltd. — Company and Corporate | DRAT (2022)

¶1

DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI

¶2

Misc. Appeal No. 56/2022

¶3

Arising out of S.A. No. 70/2022 (DRT, Jaipur)

¶4

HDFC Bank Ltd.

¶5

¶6

Ms. Chandraudai Automobiles Pvt. Ltd.

¶7

17.08.2022 Hon’ble Mr. Justice Brijesh Sethi

¶8

Present: Mr. Sanjeev Pathak, Ld. Counsel for the appellant.

¶9

Mr. Pawan R. Upadhyay along with Mr. Puneet Parihar, Ld. Counsels for the respondent.

¶10

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

¶11

This is an appeal filed by the appellant bank with the prayer to set-aside the impugned order dated 11.03.2022, passed by Ld. DRT-Jaipur in SA no. 70/2022.

¶12

Vide the said impugned order, the Ld. DRT, Jaipur has observed that an advocate be appointed as Commissioner to take physical possession of the subject property as Authorized Officer of the respondent bank is not subordinate to the Ld. CMM or DM.

¶13

Ld. Counsel for the appellant states that he does not press his appeal and let an advocate be appointed as Receiver instead of an authorized officer of the bank in the present case Ld. counsel for the respondent states that he has no objection if an advocate is appointed in place of an authorized officer.

¶14

In view of the above, instead of an authorized officer of the bank, Ms. Arti Bhatnagar, Advocate (Mob. No. 9899314054) is appointed as Receiver. The receiver shall give seven days’ notice before taking steps under Section 13(4) of the SARFAESI Act and file her report. The fee of the Receiver is fixed at Rs.1 lac plus out-of-pocket expenses, which will be paid by the bank. Report will be filed within a week of execution of the job. In case there is any need of police assistance SHO concerned will provide the same to the Receiver.

¶15

Ld. Counsel for the respondent, however, states that respondent is ready to settle the dispute with the appellant. Ld. Counsel for the appellant states that bank is always ready to settle the dispute, provided a reasonable offer is made by the respondent.

¶16

In view of the above, let the parties sit together to explore the possibility of settlement.

¶17

The appeal stands disposed of accordingly.

¶18

(CHAIRPERSON)

¶19

-ak

Hdfc Bank Ltd. v. Ms Chandraudai Automobiles Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. Ms Chandraudai Automobiles Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

All orders in this case

Similar cases

Punjab and Sind Bank versus M/S Kissan Petro Oils Pvt. Ltd. and Ors.

Padam Singh and Anr. versus Ao, State Bank of India and Anr.

Au Small Finance Bank Ltd. versus Smt Chaman Wife of Sh. Phool Singh

Mohit Chaudhary and Anr. versus Hero Housing Finance Limited

Sidhartha Computer International versus State Bank of India

Idbi Bank Ltd. versus Ms Jasmine Suits and Fabrics Pvt. Ltd. and Ors.