Disposed

Odhav Overseas v. Punjab National Bank

DRT12 Sept 2024SA/628/2024

Case brief

AI extract

What is this about?

A Debts Recovery Tribunal indemnity office directed the Deputy Collector to defer possession of seized property until October 31, 2024, subject to an undertaking to quit, allowing the applicant time to relocate before enforcement resumes.

What did the court decide?

Postponing possession of property until 31.10.2024 if applicant files undertaking to quit and deliver vacant possession within that period.

Odhav Overseas versus Punjab National Bank — Execution and Attachment | DRT (2024)

¶1

SA No. 628 of 2024 1 12.09.2024

¶2

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

¶3

Dated this the 12^th day of September, 2024

¶4

Present: SHRI A. S. JAYACHANDRA Presiding Officer (In – charge)

¶5

SARFAESI APPLICATION No.628 of 2024 (SA Dy. No. 2060 of 2024)

¶6

M/s Odhav Overseas Rep. By its Partner, Mr. Rathod Jayakumar Himatlal, Patel Faliyu, Vadi Vistar –I, Nani Nagalpar Sanjar, Kachchh – 370 110.

¶7

….Applicant

¶8

-Vs-

¶9

The Authorized Officer, M/s Punjab National Bank, Zonal Sastra Centre, PNB Towers, 46-49, Fourth Floor, Royapettah, R. H. Road, Chennai – 600 014.

¶10

M/s. Sri Krishna Saw Mill

¶11

Rep by its Partner Ashok R Patel Karamshi M Patel, No.9, Kamatchi Nagar Road, Off GNT Road, Puzhal, Chennai – 600 066.

¶12

….Respondents

¶13

Counsels on record / appeared:

¶14

Counsel for Applicant : M/s. Gunturu L Jagadeeswari

¶15

PROCEEDINGS DATED 12.09.2024

¶16

Registry places this SA to decide on the point of limitation and lack of address proof.

¶17

Heard.

¶18

SA No. 628 of 2024 2 12.09.2024

¶19

Ld counsel submits that though the applicant is resident of Katchch, he is doing business at the local address to which the litigation arises and is registered under GST. Let a copy of the certificate be filed.

¶20

As regards the limitation, it is pleaded that the impugned order came to the knowledge of the applicant on 16.07.2024. Hence, considering the pleadings at para 4, the objections be ignored.

¶21

SA be registered.

¶22

Heard on the un-numbered IAs and the main petition.

¶23

The applicant resists the orders dated 23.01.2024 in CMP No.12573/23 of Ld. CJM, Tiruvallur. The applicant claims to be in possession of the property to which the possession assistance is ordered by the Ld.CJM under Section 14 of the SARFAESI Act.

¶24

It is admitted fact that the tenancy is un-registered. In view of the ruling in Hemraj Ratnakar Salian Vs. HDFC Bank Ltd., and Ors, reported in 2021 SCC online SC 611 , the applicant cannot maintain the present petition questioning the legality or otherwise of the impugned order.

¶25

However, considering the difficulties in re-locating by the applicant as urged by the Ld. counsel, it is hereby directed that the D1 shall defer taking the possession of the property till 31.10.2024 provided the applicant filing an undertaking to quit and deliver the vacant possession of the property mentioned in the SA on or before 31.10.2024.

¶26

If no undertaking is filed, the defendant bank may proceed further.

¶27

SA No. 628 of 2024 3 12.09.2024

¶28

However, in any event, the defendant bank is entitled to recover the possession

¶29

after 31.10.2024 by executing the warrants already obtained.

¶30

Thus, SA stands disposed.

¶31

Registry is directed to number the SA and the un-numbered IAs and the matter stands closed.

¶32

Ld. counsel to intimate this order to the D1.

¶33

Sd/(A. S. JAYACHANDRA)

¶34

PRESIDING OFFICER (In-charge)

¶35

(Dictated to Steno, who typed in the system, corrected, signed and pronounced in Open Court, on this 12^th day of September, 2024)

Odhav Overseas v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

Odhav Overseas v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Cases cited

Parties & counsel

Coram

Case details

Similar cases

Idbi Bank versus Jai Krishna Sudharsan

Yes Bank versus Smk and Co.

Bank of India versus M S Sree Sai Agencies

Allahabad Bank versus Ram Mohan R

Bank of Baroda versus Padma Shekar

Yes Bank versus Kgk Construction