Disposed

Darshan Bheda v. Canara Bank

DRAT11 Oct 2023IA/273/2023

Case brief

AI extract

What is this about?

This common order disposed of multiple appeals filed by alleged tenants against Canara Bank under the SARFAESI Act to protect possession. The Debt Recovery Appellate Tribunal held the appeals non-essential as the bank withdrew fresh SARFAESI measures and is now proceeding with liquidation under IBC.

What did the court decide?

All appeals were disposed of as non-essential with the observation that sufficient notice will be given if fresh SARFAESI measures are initiated.

Darshan Bheda versus Canara Bank — Banking and Recovery | DRAT (2023)

¶1

BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson

¶2

I.A. No. 275/2023
In
Appeal No. 26/2023
Between
Devendra Vedant … Appellant/s
V/s.
Canara Bank …Respondent/s
AND
I.A. No. 272/2023
In
Appeal No. 23/2023
Between
Pradeep Vedant … Appellant/s
V/s.
Canara Bank …Respondent/s
AND
I.A. No. 273/2023
In
Appeal No. 24/2023
Between
Darshan Bheda … Appellant/s
V/s.
Canara Bank …Respondent/s
AND
I.A. No. 274/2023
In
Appeal No. 25/2023
Between
Parul Vedant … Appellant/s
V/s.
Canara Bank …Respondent/s
AND

¶3

¶4

Appeal on Diary No. 875/2023

¶5

Between

¶6

Alpa Nayan Vedant … Appellant/s V/s.

¶7

Canara Bank …Respondent/s Mr. Deepan Dixit, along with Ms. Chinmayee Ghag, i/b M/s. Zastriya, Advocate for Appellants.

¶8

Ms Vaishali R. Bhilare, along with Ms. Kadambari Patil, Advocate for Respondents.

¶9

-:Common Order dated: 11/10/2023:-

¶10

These appeals are preferred by Applicants in different S.As. filed by them before the Debts Recovery Tribunal-I, Mumbai (D.R.T) with the intention to protect their possession as alleged tenants over the properties proceeded by the Respondent Bank as a secured asset and steps under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act” for short) were initiated.

¶11

Subsequently, the borrower went for liquidation under the IBC and the NCLT has taken certain measures. Liquidation proceedings have also been initiated, a liquidator has been appointed and the bank has surrendered their right over the properties to the liquidator for appropriate action.

¶12

Since the IBC proceedings were pending the SAs were disposed of by the DRT granting the Applicants the right to revive the S.As. as and when fresh measures under the SARFAESI Act were taken. There has been some progress in the IBC proceedings and now that the official liquidator has already taken possession of the properties and is proceeding to liquidate them.

¶13

I am also told that certain steps have been taken to evict the

¶14

¶15

tenants from the premises regarding which they have the right to defend. These appeals are not essential, to protect the interest of the Appellants, and the Respondent bank has made it adequately clear that they are not proceeding with the present Sardaesi measures which have been challenged before the D.R.T.

¶16

The anxiety of the Appellants seems to be misplaced. In case there are any fresh Sarfaesi measures initiated by the Respondent Bank, sufficient notice as contemplated under the SARFAESI Act will have to be served on the Appellants and they would be within their right to challenge the same as persons aggrieved.

¶17

With these observations, the appeals are all disposed of.

¶18

Sd/Chairperson

¶19

rm-12-13-14-15-17

¶20

Darshan Bheda v. Canara Bank

Case brief

What is this about?

What did the court decide?

Darshan Bheda v. Canara Bank

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

Narendrakumar Mathuradasji Bardia and Ors. versus Idfc First Bank Ltd.

Fastgrowth Hospitality and Ors. versus Asrec India Ltd.

Indian Bank versus Shri Rajesh Satyanarayan Malu & Ors.

Parul Vedant versus Canara Bank

Devendra Vedant versus Canara Bank

Pradeep Vedant versus Canara Bank