In Misc. Appeal No. 92/2011 before the DEBTS RECOVERY APPELLATE TRIBUNAL at Mumbai, the court disposed of an intervention application by IARC seeking to join the suit as an assignee of the debt from Standard Chartered Bank, dismissing it since ICICI Bank is not a party to the underlying appeal.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson I.A. No. 242/2022
In Misc. Appeal No. 92/2011
Between M/s Uttam Foma Techno Cast Pvt. Ltd. … Appellant/s V/s.
IDBI Bank Ltd. & Ors.. …Respondent/s Mr Fraser Alexander along with Mr Sameer Shaikh, i/b M/s Consulta Juris, Advocate for Appellant.
Mr Huda Qureshi, i/b M/s K. K. Associates, Advocate for Respondent No.1
Mr Sidharth Samantarey along with Mr Vinod Kothari& Mr Priyansh Jain, i/b M/s Apex Law Partners, Advocate for Intervener (IARC)
-: Order dated: 06 /12/2023:-
Misc. Appeal No. 92 of 2011 is preferred from Appeal No. 08 of 2010 which was disposed of by the Debts Recovery Tribunal, Pune (D.R.T.). An intervention application is filed stating that the intervener is an assignor of the debt from Standard Chartered Bank, which in turn got an assignment from ICICI Bank Ltd. Since ICICI Bank Ltd. is not a party to Appeal No.08 of 2010, the intervention cannot be implemented. Hence, the application as I.A. No. 442 of 2022 for intervention is dismissed.
The contentions of the parties are kept open for consideration in appeal.
Post on 20.12.2023 before the Registrar along with connected appeals.
Sd/Chairperson
mks-21
1
1 issue framed by the court
Whether the intervention application regarding assignment of debt from Standard Chartered Bank to IARC can be implemented when ICICI Bank is not a party to the original appeal.
M/s Uttam Foma Techno Cast Pvt. Ltd.
IDBI Bank Ltd.
Ashok Menon
As recorded by the court registry
4 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
