Disposed

Union Bank of India v. Ms Chitiz Metals And Minerals Trading P Ltd. And Ors.

DRAT12 Oct 2023REGULAR APPEAL/15/2023

Case brief

AI extract

What is this about?

The Tribunal, noting that the purchaser was to take possession of the sold asset per the High Court, refused to decide the appeal on merits. It adjourned the matter to 08.02.2024 pending further hearing, citing a pending High Court listing in December 2023.

What did the court decide?

The appeal was not decided on merits; the matter was listed for hearing on 08.02.2024.

Union Bank of India versus Ms Chitiz Metals And Minerals… — Banking and Recovery | DRAT (2023)

¶1

IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA Appl. No. 15 of 2023 THE HON’BLE JUSTICE SHRI ANIL KUMAR SRIVASTAVA, CHAIRPERSON

¶2

12.10.2023

¶3

AO, Union Bank of India & Anr.

¶4

… Appellant Vs.

¶5

M/s. Chitiz Metals & Minerals Trading (P) Ltd. & Ors.

¶6

….. Respondents

¶7

For Appellant : Mr. Pankaj Kr. Mukherjee, ld. advocate. For Respondents : Mr. D. Basu Roy, ld. Advocate for resp.no. 1 to 3.

¶8

Mr. Debasish Chakraborty, ld. Advocate for resp. 5 to 7. Mr. Dipankar Das, ld. Adv. Ms. Sanjana Nandi, ld. Advocate.

¶9

THE APPELLATE TRIBUNAL :

¶10

Heard learned counsel for the appellant. Learned counsel for the respondent at the very outset placed reliance on the Calcutta High Court order dated 14.11.2022 passed in CO No. 3336 of 2022 wherein it is observed as under :

¶11

“As it is disclosed by Mr. Basu that possession is going to be handed over in connection with the referred sale, as per order of the Appellate Court, there lies the necessity of granting interim protection, at lest for a limited period of time.

¶12

Mr. Basu, however, clarifies that petitioners/borrowers are ready to deposit the entire money together with the interest and costs.

¶13

In a situation like this, for the alleged infraction of Section 13(8) of the SARFAESI Act, as submitted by Mr. Basu, let there be an interim order, so that, the impugned appellate decision as regards delivery of possession, consequent upon holding of sale, may not be given effect to till 15.12.2022 with liberty upon the opposite parties to file an application for vacating the interim order, if any.”

¶14

It is submitted by the learned counsel for the parties that matter is listed before the Hon’ble High Court at Calcutta in the middle of December, 2023. In such circumstances, it is not appropriate to decide the appeal at the present moment.

¶15

List the matter on 08.02.2024 for hearing of appeal.

¶16

(Anil Kumar Srivastava, J) Chairperson

¶17

Dated : 12.10.2023 - 27 /pkb

Union Bank of India v. Ms Chitiz Metals And Minerals Trading P Ltd. And Ors.

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Ms Chitiz Metals And Minerals Trading P Ltd. 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

All orders in this case

Similar cases

Sagolsem Rajesh Singh versus State Bank of India

Y Narasimha Raju versus Canara Bank

Bank Of Baroda versus Waheeda Sultana

Anshu Gupta versus Reliance Asset Reconstruction Company Limited

M/s Samskriti versus Ms Sugan Pharma Ltd.

Central Bank Of India versus Uday Chand Das