Indian Bank and Anr. v. M/S Birat Enterprises
Case brief
What is this about?
The Appellate Tribunal dismissed the bank's appeals, upholding the DRT order that quashed the auction sale notice. The notice was found defective as it included a non-mortgaged common passage and failed to disclose existing encumbrances as required by the Rules, 2002, negating the 'as is where is' clause.
What did the court decide?
Appeals dismissed; Tribunal order setting aside auction sale and directing return of deposit upheld.
IN DEBTS RECOVERY APPELLATE TRIBUNAL, ALLAHABAD Appeal Dy. No. 283/2019
Indian Bank (Allahabad Bank), Exhibition Road Branch, 1st Floor, Arunachal Bhawan, Patna – 800001 through its Authorized Officer.
…...……....………………………...……………………………………………...Appellant
Versus
- M/s Rolly Infrabuild Real Estate Pvt. Ltd. through its Director Chandan Kumar, S/o Nand Kishore Singh, R/o 55, Ashiana Galaxy, Exhibition Road, Patna-800001.
- M/s Birat Enterprises through its Partner Satish Kumar Keshari, S/o Ram Nath Prasad Keshari, R/o Village and P.O. Daudpur, P.S. Shahpur, District Patna-801503.
- Shri Subhash Chandra Singh, S/o Late Daran Singh, R/o Bibiganj, PO-Danapur, P.S. Danapur, Patna-801503.
Appeal Dy. No. 284/2019
- The Authorized Officer, Indian Bank (Allahabad Bank), Exhibition Road, Patna.
- The Chief Manager, Indian Bank (Allahabad Bank), Exhibition Road, Patna. ……....………….……………...…………………………………..……...Appellants
Issues for consideration
3 issues framed by the court
Whether the sale notice including a common passage not mortgaged with the bank was defective despite 'as is where is' terms.
Whether the bank was bound to disclose encumbrances in the sale notice under Rule 8(6)(a) despite the 'as is where is' condition.
Whether the Tribunal correctly set aside the auction sale and directed the return of the 25% deposit due to these defects.
Parties & counsel
- appellant
Indian Bank
- respondent
M/s Rolly Infrabuild Real Estate Pvt. Ltd.
- respondent
M/s Birat Enterprises
- respondent
Shri Subhash Chandra Singh
Coram
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · December
- CNR
- 091090002842019
- Topic
- Banking and Recovery
All orders in this case
10 orders share this CNR
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