Disposed

Punjab and Sind Bank v. Achara Vyapar

DRAT19 Nov 2024REGULAR APPEAL/71/2024

Case brief

AI extract

What is this about?

The Mr. DRT Appeals Tribunal disposed of the appeal against a sale notice order under Securitisation and Reconstruction Act directions, directing the debt recovery tribunal to restore the prior appeal, implead auction purchasers as per the Karnataka High Court order, and dispose of the matter on merits.

What did the court decide?

SA 475/2023 restored; DRT directed to implead auction purchasers and dispose of SA on merits.

Punjab and Sind Bank versus Achara Vyapar — Banking and Recovery | DRAT (2024)

¶1

IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT CHENNAI

¶2

Dated the 19^th of November, 2024

¶3

PRESENT: Hon’ble Mr. Justice G. Chandrasekharan CHAIRPERSON

¶4

R.A (SA): 71/2024

¶5

(SA 475/2023 on the file of DRT -I, Bengaluru)

¶6

Between

¶7

The Authorised Officer Punjab and Sind Bank Chickept Area Branch No.678 -679, S B Market Lane Bangalore 560 053.

¶8

… Appellant

¶9

And

¶10

M/s. Achar Vyapar Partnership Firm No.301/A Ashwathanarayana Main Road Akshya Nagar, Attur Post Yelahanka, Bangalore 560 064. Represented by its Partner Sri Srikantacharai.

¶11

… Respondent

¶12

Counsel for Appellant : Mr. R. Krishnamoorthy Counsel for Respondent : Mr. A. Ramesh Babu

¶13

¶14

ORDER

¶15

This Appeal is filed against order dated 28.06.2024 passed in SA 475/2023 by DRT-1, Bengaluru.

¶16

SA 475/2023 was filed by Respondent M/s. Achar Vyapar, challenging Sale Notice dated 04.09.2023. After fullfledged enquiry, SA was allowed by Tribunal below, on 28.06.2024. Challenging the order passed in SA 475/2023 dated 28.06.024, this Appeal is filed.

¶17

Learned Counsel for Appellant Bank submitted that Auction Purchasers namely Smt. Gayathri B and Mr. Zakirunnisa, filed Writ Petition in WP No. 26318/2024 (GM-DRT), on the file of Hon’ble High Court of Karnataka at Bengaluru, wherein, it was ordered that Auction Purchasers should be impleaded as Respondents in the proceedings before DRT, and without impleading them as parties, the order passed in SA 475/2023 on 28.06.2024, is not in accordance with law and quashed the order.

¶18

¶19

In view of the Order passed by Hon’ble High Court of Karnataka in WP No. 26318/2024 (GM-DRT), dated 23.10.2024, this Appeal is disposed of directing the parties to agitate all their contentions and issues before DRT-I, Bengaluru. Learned Presiding Officer, DRT-I, Bengaluru, is directed to restore SA 475/2023 as per the directions issued by Hon’ble High Court of Karnataka in WP No. 26318/2024 (GM-DRT), implead the Auction Purchasers as parties and dispose of SA 475/2023, on merits and in accordance with law.

¶20

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

¶21

[ Justice G. Chandrasekharan] CHAIRPERSON

¶22

Punjab and Sind Bank v. Achara Vyapar

Case brief

What is this about?

What did the court decide?

Punjab and Sind Bank v. Achara Vyapar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

Similar cases

S Janardhanan versus Federal Bank & 4ors

D Vaithiyalingam versus Indian Overseas Bank

Ms Murugan Coir Industry and Anr. versus Canara Bank

Iqra Educational and Charitable Trust versus Punjab National Bank

Hsbc Bank versus Neeraj Kumar Ojha

M/s Kalyani Logistics Represented by its Proprietor Sri Diwakar M. Shetty versus Canara Bank