Hdfc Bank v. M S North East Glass Industries
Case brief
What is this about?
The Tribunal heard the appeal admitted against a DRT order restraining the Bank from acting under Section 13(4) of the SARFAESI Act pending an IA. The Tribunal directed the DRT to dispose of the IA expeditiously after considering the Bank's opposition and jurisdictional objections.
What did the court decide?
The appeal was disposed of without entering into merits with a direction to the DRT, Guwahati to dispose of I.A. 153 of 2025 expeditiously after the Bank files opposition.
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON
Misc. Appeal Diary No. 382 of 2025
(Arising out of I.A. 153 of 2025 in S.A. 143 of 2024 in DRT-Guwahati)
Order No. 02 14.05.2025
- HDFC Bank Limited , a Company incorporated under the Companies Act, 1956, carrying on banking business under License granted by Reserve Bank of India and Registered under Banking Regulation Act, 1949, having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400 013 and carrying on business through various branches across India and one of such branches at Rukhmini Gaon Branch, A.P. Tower, 3rd floor, G.S. Road, Guwahati-781 022, Kamrup (Municipality), Assam.
- The Authorised Officer , HDFC Bank Limited, working for gain at “Jardine House”, 4, Clive Row, Kolkata-700 001. ..Appellants
-Vs-
- M/s. North East Glass Industries, a partnership firm, carrying on business at Bajaj Bhawan, Tokobari, S.R.C.B. Road, Fancy Bazar, Guwahati-781 001, Kamrup Municipality, Assam.
Issues for consideration
3 issues framed by the court
Whether the DRT ought to dispose of an IA pending before it before admitting the appeal against it.
Whether the Appellant Bank should be directed to file opposition to the IA within a specified time.
Whether the appeal should be decided on merit at this stage.
Parties & counsel
- appellant
HDFC Bank Limited
- respondent
M/s. North East Glass Industries
- respondent
Shri Rishab Bajaj
- respondent
Shri Rajesh Bajaj
Coram
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · May
- CNR
- 191090003822025
- Topic
- Banking and Recovery
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