Madhya Pradesh High Court
M/S Divyadeep Sugar And Industries Pvt. ... vs India Bank on 23 November, 2021
Author: Sheel Nagu
Bench: Sheel Nagu
1 WP-25138-2021
The High Court Of Madhya Pradesh
WP No. 25138 of 2021
(M/S DIVYADEEP SUGAR AND INDUSTRIES PVT. LTD. AND OTHERS Vs INDIA BANK AND OTHERS)
Jabalpur, Dated : 23-11-2021
Shri Sanjay Mishra, learned counsel for the petitioners.
Ms. Shalini Choudhary, learned counsel for the respondent No.1.
Petitioners have availed financial assistance from respondent/Bank. They are aggrieved by the notice of E-auction being conducted by the respondent-Bank for realization of the debt due against the petitioners.
Learned counsel appearing for the petitioners has fairly submitted that it had filed Securitisation Application No.421/2021 under Section 17 (1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Interest Act, 2002 and the same is pending before the DRT, Jabalpur against the Bank.
Petitioners, however, submit that on account of non-availability of the Presiding Officer in the Debts Recovery Tribunal, Jabalpur, the aforesaid alternate remedy is not efficacious and hence they prayed for maintenance of the status-quo till its prayer for interim relief is considered by the Debts Recovery Tribunal, Jabalpur.
This Court has been passing directions in various cases. One of such order has been passed on 17.11.2021 in W.P.No.24384/2021 (Shri Dilip Sharma Vs. Union Bank) to ensure that on account of non-availability of the Presiding Officer of the DRT no prejudice is caused to either of the parties.
Without going into the merits of the case and taking into consideration the facts of the present case, we dispose of the present writ petition with the following directions:
(i) Without prejudice to any of the rights of the parties, the petitioners are directed to deposit 20% of the amount due as on date with the respondent/bank within a period of 30 days from today, subject to further Signature Not SAN Verified orders that may be passed by the Debts Recovery Tribunal, Jabalpur. 50% of Digitally signed by MANOJ KUMAR LALWANI Date: 2021.11.24 13:04:37 IST
2 WP-25138-2021 the aforesaid 20% amount be deposited within a period of 1st fortnight.
(ii) The DRT is directed to take-up the S.A.No.421/2021 as soon as it becomes functional for consideration of interim relief and take a decision in accordance with law as expeditiously as possible.
(iii) Till the prayer for interim relief in the said S.A. is decided by the DRT, no coercive action be taken against the petitioners subject to compliance of direction No.1 as above.
( iv ) The petitioners are directed to communicate this order to the Registrar, DRT, Jabalpur within seven working days from today.
(v) If there is excessive delay at any stage of the proceedings including in the appointment of Presiding Officer of DRT, Jabalpur parties are free to approach this Court.
(vi) It is made clear that this Court has not expressed any opinion of the merits of the case.
The writ petition is disposed off with the aforesaid directions. C.C. as per rules.
(SHEEL NAGU) (PURUSHAINDRA KUMAR KAURAV)
JUDGE JUDGE
MKL
Signature
SAN Not
Verified
Digitally signed by
MANOJ KUMAR
LALWANI
Date: 2021.11.24
13:04:37 IST