Disposed

M/S Chandragiri Estates v. Indian Overseas Bank and Ors.

DRAT19 Jan 2024MISC APPEAL/93/2018

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal disposed of an interim appeal regarding an order directing asset disclosure. Ruling that the main Original Application was pending with both parties willing to proceed to final determination, the Tribunal directed the lower Tribunal to decide the main application on merits within four months without insisting on property disclosure first.

What did the court decide?

The Tribunal directed the lower Tribunal to decide the main Original Application on merits within four months; pending Interlocutory Applications stand closed.

M/S Chandragiri Estates versus Indian Overseas Bank and Ors. — Banking and Recovery | DRAT (2024)

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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

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Dated the 19^th of January, 2024

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PRESENT: Hon’ble Mr. Justice S. Ravi Kumar

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CHAIRPERSON

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MA 93/2018

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(IA 110/2018 in O.A.No.429/2012 on the file of DRT-I, Ernakulam)

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Between

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M/s. Chandragiri Estates, Panathoor, Panathadi. P.O., Kasargode, A Partnership Firm, Represented by its Managing Partner, Mr. C.P. Mathew.

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Mr. C.P. Mathew, Aged 66 years, S/o. C.A.Paily., Chottanyil House, Thodupuzha East. P.O., Thodupuzha, Idukki District – 685 585.

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Mrs. Laly Joseph, Aged 43 years, W/o. C.P. Mathew, Koithanath House, Karimannoor. P.O., Thodupuzha, Idukki District – 685 581.

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… Appellants

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And

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Indian Overseas Bank, Ernakulam Branch, XL/8892, 1^st Floor, Thekkakara Mansions, Opp. Kavitha Theatre, M.G. Road, Ernakulam, Kochi – 682 035.

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Thomas Mathew, S/o. Thomas, Partner, M/s. Chandragiri Estates, Residing at Nelluvelil House, Erattupetta. P.O., Erattupetta, Kottayam – 686 121.

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K.V.Pradeep Kumar, S/o. T.V.S.Warrier, Partner, M/s. Chandragiri Estates, Residing at 11/48D, Sukrutham, Narasimha Nagar, Kodungalloor, U.C.College. P.O., Aluva – 683 102.

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Jose Thomas, S/o. Aipe Thomas, House No. 6/155, Chakkalayikal House, Pothanikad. P.O., Kothamangalam – 686 671.

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5.Lissy Zacharias, D/o. Zacharias Mathew, Residing at Kakkanattu House, Aruvithara P.O., Erattupetta, Kottayam – 686 121.

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Jipin Zacharias, S/o. Zacharias Mathew, Residing at Kakkanattu House, Aruvithara P.O., Erattupetta, Kottayam – 686 121.

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…Respondents

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Counsel for Appellants Counsel for R1

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: Mr. Zakir Hussain and Mr. D. Duraiaj : M/s. Kamatchi D

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ORDER

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This Appeal is preferred against Order dated

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30.01.2018 of an Interlocutory Application IA 110/2018 in

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OA 429/2012 of DRT-I, Ernakulam, wherein Appellants herein were directed to disclose the particulars of their properties, such as, assets, bank accounts, within two weeks.

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Admittedly, the main OA is still pending. OA is of the year 2012. When it is put to both Advocate for Appellants and Advocate for first Respondent Bank, as to how about proceeding with the main OA; both of them expressed that they are ready to proceed with the OA in which rights of parties can be determined finally, and not at Interlocutory stage. It is also represented that some more Interlocutory Applications are still pending in the OA, and as both Advocate for Appellants and Advocate for 1^st Respondent Bank expressed their willingness to proceed with the main

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OA, without going into merits and demerits of the impugned Order, I deem it appropriate to direct the Tribunal below to decide the main OA, on merits, in accordance with law, as expeditiously as possible, preferably within four months from the date of receipt of this Order, without insisting for disclosure of properties. Both parties shall cooperate with the Tribunal below in implementing the direction of this Tribunal.

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With the above observations, Appeal in MA 93/2018 is disposed of. Both parties shall bear their own costs. All pending IAs, if any, stand closed.

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[Dictated to Athistamani, PS, in open court, transcribed by her, corrected and signed by me, this 19^th of January, 2024]

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[ Justice S. Ravi Kumar]

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CHAIRPERSON

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M/S Chandragiri Estates v. Indian Overseas Bank and Ors.

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M/S Chandragiri Estates v. Indian Overseas Bank and Ors.

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