UTCO Bank obtained a stay on.attachment of a mortgaged property via OA 2079/2018 in favor of SBI. The tribunal withdrew the stay recognizing the applicant’s prior mortgage right, enabling a Section 14 application.
Withdrawal of order dated 18.12.2018 passed in OA No.2079/2018; disposal of the Special Application.
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/182/2023 UCO BANK Vs STATE BANK OF INDIA
21.09.2023 Item No.55
Present: Sh. Nonish Kumar, Counsel for the applicant Bank. Sh. Raman Kumar, Nodal Officer of SBI. Sh. Rohit Kanwar, Tehsildar, Bangana, (Respondent No.3).
Sh. Joginder Pal Sharma, respondent No.5, in person for himself and for M/s Jai Ambey Bakery, a proprietorship firm, respondent No.4.
Mr. Nonish Kumar, counsel for UCO Bank states that the secured asset in this case is a residential house, situated at Village Tiar, P.O. Khurwain, Tehsil Bangana, District UNA, H.P, which was mortgaged by respondent No.5 in favor of UCO Bank, in the year 2017. UCO Bank had initiated SARFAESI proceedings against defendant No.4 and 5 and had moved an application before District Magistrate, under Section 14, who vide order dated 28.02.2023, had allowed this application, yet, vide order dated 14.09.2023, the District Magistrate has withdrawn the order dated 28.02.2023. This property is under attachment on account of an order passed by this Tribunal, in IA No.769/2018 in OA No.2079/2018 filed by SBI against Joginder Pal Sharma. The order was passed in OA No.2079/2018 for attachment before judgment on 18.12.2018.
It is admitted by the parties that the property in this case was mortgaged by Sh. Joginder Pal Sharma, in favor of UCO Bank, in the year 2017. The order of attachment was issued by this Tribunal in the year 2018. Since, the property was mortgaged by Sh. Joginder Pal Sharma, prior in point of time in favor of UCO Bank, than the order of attachment passed by this Tribunal, the order dated 18.12.2018, passed in OA 2079/2018 is hereby withdrawn.
The net effect of this order would be that District Magistrate, UNA, would be free to dispose of any application under Section 14, of the SARFAESI Act, filed by UCO Bank or to be filed by UCO Bank. A copy of this order be given to Tehsildar concerned. The SA stands disposed of. A copy of this order be placed in OA No.2079/2018 and also be sent to the concerned Recovery Officer.
File be consigned to record room after due compliance.
Pronounced in open court. PANKAJ/21.09.2023
(A S Narang) Presiding Officer DRT-I, Chandigarh
1 issue framed by the court
Whether an order of attachment in favor of one creditor can override an earlier mortgage in favor of another creditor for the same property.
1 provisions across 1 enactments
UCO Bank
Joginder Pal Sharma
M/s Jai Ambey Bakery
Rohan Kumar Kanwar
(A S Narang) Presiding Officer DRT-I, Chandigarh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
