Dismissed

Canara Bank v. Hero Wiretex Ltd.

DRAT9 Jan 2023TRANSFER PETITION/7/2022

Case brief

AI extract

What is this about?

The Debts Recovery Appellate Tribunal, Kolkata, dismissed a transfer petition filed by Canara Bank against Hero Wiretex Limited. The bank sought transfer of an origination application filed in Hyderabad to Visakhapatnam, relying on party residence and asset location. The Tribunal held that the bank did not have the prerogative to choose the filing forum initially.

What did the court decide?

Transfer Petition No. 07 of 2022 is dismissed; the Application is not transferred.

Canara Bank versus Hero Wiretex Ltd. — Banking and Recovery | DRAT (2023)

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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA

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Transfer Petition No. 07 of 2022

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(Arising out of O.A. 68 of 2020 in DRT-II, Hyderabad)

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THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON

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09.01.2023	Canara Bank	… A	ppellant
	-Vs- Hero Wiretex	Limited	& ors
		… Re	spondent

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Ms. Aparajita Ghosh, Learned Counsel for Appellant

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THE APPELLATE TRIBUNAL :

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For Admission

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Heard the Learned Counsel for the Appellant and perused the record. Transfer is being sought on the ground that when the O.A. was filed at Hyderabad at that time loan was granted by the Hyderabad Branch. Thereafter, it has been transferred to Visakhapatnam. It is submitted that the parties are residing at Visakhapatnam and the secured asset is also lying in the State of Andhra Pradesh.

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As far as transfer is concerned, it is not the prerogative of the Bank. Even at the time of filing of the O.A. if the facts stand as it stands today, O.A. should have been filed at Visakhapatnam. But the Bank did not choose to file the same at Visakhapatnam. Rather, they filed it at Hyderabad. An absolute liberty cannot be granted to the Bank to choose the jurisdiction as per his own choice after filing of the O.A.

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Having considered the submission, I do not find any ground to transfer the Application. Accordingly, Transfer petition being No. 07 of 2022 is dismissed.

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Copy of the order be supplied to Appellant and Respondents and the copy be also forwarded to the concerned DRT.

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File be consigned to Record Room.

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Order dictated, signed, dated and pronounced in open Court.

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(Anil Kumar Srivastava,J) Chairperson

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Dated: 9^th January, 2023 01/tp

Canara Bank v. Hero Wiretex Ltd.

Case brief

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Canara Bank v. Hero Wiretex Ltd.

Case brief

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