The Chairperson received an appeal challenging the lack of transparency in an auction process. Being inundated with replies from respondents, the matter was not disposed of on merits but posted for the hearing date.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
Appeal on Diary No. 1099/2023
Between
Maibhadra Sales Corporation … Appellant/s V/s.
State Bank of India & Ors. … Respondent/s
And
Appeal on Diary No. 1101/2023
Between
Impex Infra Service … Appellant/s V/s. State Bank of India & Ors. … Respondent/s
Mr. Herbert Noronha, along with Mr. Prafull Mahadik, Advocate for Appellant.
Mr. Vasant Kumar, Advocate for Appellant. Bidan Chandra, along with Ms. Meenu, Advocate for Respondent Bank.
Ms. Sonali Jain, Advocate for Respondent No. 10 to 14.
Mr. Rishabh Shah, along with Mr. Harjot Singh, i/b M/s Raval Shah & Co., Advocate for Respondent No. 15.
Mr. Anik Kumar, Advocate for Respondent No. 17.
-: Order dated: 30/06/2023:-
One of the bidders has come up on appeal challenging the process of the auction before the Recovery Officer in RP No. 7/2019. The Ld. Presiding Officer has already disposed of the appeal
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u/s. 30 but the orders are yet to be uploaded and hence, the reasoning for the order is not explicit.
However, the Ld. Recovery Officer has confirmed the sale of one item of property in Lot No. 3 in favour of Respondent No. 15. There are several other bidders who are also equally aggrieved by the lack of transparency of the sale.
Replies will have to come from each one of the Respondents which they are at liberty to file as expeditiously as possible.
The possession of the property shall not be handed over till the next date of hearing without prejudice to the rights and contentions. Post on 20.07.2023 for hearing.
Sd/Chairperson
rm-40-41
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Maibhadra Sales Corporation
State Bank of India
Ashok Menon
As recorded by the court registry
4 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
