Dismissed

Kakan Rice Mills Private Limited v. Bank of Baroda and Ors.

DRAT22 Mar 2023

Case brief

AI extract

What is this about?

The Bombay High Court dismissed an interlocutory stay application filed by the appellant. The court directed the respondent bank to reply to the appeal and stay application and ordered maintenance of status quo on the property till the next date of hearing.

What did the court decide?

Status quo maintained on the property until the next date of hearing on 06.07.2023. Bank directed to file reply.

Kakan Rice Mills Private Limited versus Bank of Baroda and Ors. — Banking and Recovery | DRAT (2023)

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Appeal Dy. No. 723/2022 Date: 22.03.2023

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Kakan Rice Mills Pvt. Ltd. Vs. Bank of Baroda & Ors.

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Present: Shri Alok Rai, counsel for the appellant, Shri A. P. Yadav, Advocate holding brief of Shri G. K. Srivastava, counsel for the respondent-Bank,

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Heard the learned counsel for the appellant.

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Learned counsel for the respondent-Bank has filed reply to the waiver application.

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When the matter was taken up on 01.02.2023, it was contended on behalf of the appellant that the appellant has deposited approximately 30% of the total demanded amount and prayed that the waiver application be allowed. It was also requested that the interim protection may be granted to the appellant to save his interest.

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The learned counsel for the respondent-Bank had stated that if the steps are taken, 15 days’ notice is given to the party for taking physical possession of the property, therefore, no interim order was required to be passed at that stage and prayed for time to file reply to the waiver application.

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Learned counsel for the respondent-bank files reply to the waiver application, but he fails to point out, as to whether the amount as indicated by the appellant has been deposited or not.

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In view of the above, waiver application is allowed.

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Learned counsel for the appellant has filed an interlocutory application being I.A. No. 230/2023 today and has stated that the Bank has already issued direction for taking physical

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possession of the property in question vide notice dated 04.03.2023, copy of which has been appended as Annexure No. 3 to the said application, therefore, it is prayed that the interest of the appellant may be protected.

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Let the respondent-bank file reply to the memo of appeal as well as stay application filed by the appellant.

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Till the next date of listing, all the parties concerned are directed to maintain the status quo qua the property in question as it exists today.

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List this case on 06.07.2023.

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Justice R. D. Khare Chairperson

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VN Giri

Kakan Rice Mills Private Limited v. Bank of Baroda and Ors.

Case brief

What is this about?

What did the court decide?

Kakan Rice Mills Private Limited v. Bank of Baroda and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

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