The Debt Recovery Tribunal, Mumbai, dismissed an interim application filed by the applicant to restrain the respondent bank from taking physical possession of properties. The Tribunal rejected objections regarding NPA, demand notice, moratorium, and pari passu charges, holding the application lacked merit and is not maintainable.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IA No. 2953 of 2023 in SA 136 of 2023
| 05/10/2023 | Ex. No. |
Before Presiding Officer Dr. Rekha G. Dhakar, DRT-1, Mumbai. IA No. 2953/2023 in SA 136 of 2023 Ms India Steel Words Limited Vs Kotak Mahindra Bank Limited |
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| Advocate appeared for the Applicant. Advocate Rohit Gupta a/w Vinay Deshpande a/w Rupak S. i/b M/s. V. Deshpande & Co. appeared for the Respondent. IA No. 2953/2023 1. By way of the present IA Applicant is praying to restrain the Respondent from taking physical possession of the property i.e. New Survey No. 28, 32/5, 33/2, 44/1, 27/2, and 26 at village Vihari, |
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| Taluka Khalapur, Dist. Raigad, |
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Maharashtra 410 202 (hereinafter referred to as “property in question”) 2. Ld. Counsel for the Applicant has raised objection qua the declaration of NPA as well as demand notice u/S 13 (2) of the |
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| SARFAESI Act, 2002 and also |
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| moratorium being proceeding pending | |||
| before NCLT and other objections. |
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IA No. 2953 of 2023 in SA 136 of 2023
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IA No. 2953 of 2023 in SA 136 of 2023
10.In view of the above prima facie, I do not find merit in the present IA, therefore, the same is hereby dismissed. P.O.
DRT-I
Tjs/-57
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3 issues framed by the court
Whether the objection regarding Non-Performing Asset (NPA) declaration and demand notice under Section 13(2) of the SARFAESI Act is sustainable.
Whether the objection regarding moratorium proceedings pending before NCLT is maintainable before the Debts Recovery Tribunal.
Whether the objection regarding pari passu charge with DNS Bank is sustainable.
2 provisions across 1 enactments
Ms India Steel Words Limited
Kotak Mahindra Bank Limited
Dr. Rekha G. Dhakar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
