Shri Umesh Shankarlal Singhal v. Bank of Maharashtra
Case brief
What is this about?
The Tribunal dismissed an application for stay in a miscellaneous appeal arising from recovery proceedings. The court rejected claims of an unregistered 99-year lease and found no infirmities in impugned orders, refusing to halt asset auction.
What the court decided
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson I.A. No. 151/2023(Stay)
In Misc. Appeal No. 153/2022
Between
Umesh Shankarlal Singhal & Ors. … Appellant/s V/s. Bank of Maharashtra & Ors. …Respondent/s
Mr Rajesh Nagory along with Ms Aditi Saxena, Advocate for Appellant.
Mr Sandip Solanki., Advocate for Respondents Nos. 2 to 4.
-: Order dated: 24/05/2023:-
The Misc. Appeal is preferred against the order dated 08/07/2022 of the Debts Recovery Tribunal-II, Ahmedabad (D.R.T.) passed in Appeal No. 11 of 2018 in R.P No. 31/2016 filed in Original Application (O.A.) No. 270/2014 filed under the provisions of the Recovery of Debts & Bankruptcy Act, 1993 (‘RDB Act’, for short). 2. The 2nd Respondent had borrowed money from the 1st Respondent bank and defaulted payment. The bank took action under the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2000 (‘SARFAESI Act’, for short) and recovered some amount from out of the secured assets. The entire debt due was not however realised and hence, the bank filed the above-mentioned O.A. for recovery of the balance amount under the RDB Act. The O.A. was allowed and a Recovery
1
Issues for consideration
2 issues framed by the court
Whether a stay should be granted on the recovery proceedings initiated against attached properties where the appellants claim an unregistered lease.
Whether the Recovery Officer was erroneous in dismissing the appellants' claim to the attached properties based on alleged title.
Parties & counsel
- appellant
Umesh Shankarlal Singhal & Ors.
- respondent
Bank of Maharashtra & Ors.
Coram
Ashok Menon
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 · Ashok Menon
- Order 2 — this page · Ashok Menon
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