Chattisgarh High Court
Jm Financial Asset Reconstruction ... vs Indian Bank (Allahabad Bank) on 28 February, 2022
Author: P. Sam Koshy
Bench: P. Sam Koshy
1
NAFR
HIGH COURT OF CHHATTISGARH AT BILASPUR
WPC No. 468 of 2022
JM Financial Asset Reconstruction Company Ltd Through Its Authorized
Signatory Mr. Mayur Shahdadpuri S/o Late Shri. Laxman Shahdadpuri, Aged
About 33 Years, Senior Associate, JM Financial Asset Reconstruction Company,
Ltd, Registered Office At -7th Floor, Cnergy, Appa Saheb Marathe Marg,
Prabhadevi, Mumbai 400025
---- Petitioner
Versus
1. Indian Bank (Allahabad Bank) A Banking Company Constituted Under
The Banking Companies (Acquisition And Transfer Of Undertaking) Act,
1970, Through Its Authorized Officer, Having Its Head Office At 2, Netaji
Subhas Road, BBD Bagh, Kolkata, West Bengal 700001 And Other Office
At Shyam Nagar, Telibandha, Raipur 492006. Now Merged In Indian
Bank.
2. Krish (Raipur) Hotels Private Limited (KHPL) A Company Registered
Under The Companies Act 1956 Having Its Registered Office At Perfect
Chambers, 36, Ganesh Chandra Avenue, Kolkata West Bengal 700013,
India And Another Office At City Mall 36,k Opposite Hotel Embrosia, Nh6,
Ge Road, Raipur 492006 (Borrower)
3. Mr. Sanjay Gupta, S/o Mr. Krishna Kumar Gupta, Managing Director Of
Krish (Raipur) Hotels Pvt. Ltd. R/o At A- Mrs. 7, Anupam Nagar, Raipur
492007
4. Mrs. Pinky Gupta, W/o Sanjay Gupta Director Of Krish (Raipur) Hotels
Pvt. Ltd, R/o At A-7, Anupam Nagar, Raipur 492007
5. Mrs. Neelam Devi Gupta W/o Mr. Arun Gupta, Director Of Krish (Raipur)
Hotels Pvt. Ltd. R/o At A-7, Anupam Nagar, Raipur 492007
6. Blue Diamond Construction Company Limited, A Company Incorporated
Under The Companies Act 1956, Having Its Registered Office At Perfect
Chambers, 36, Ganesh Chandra Avenue, Kolkata 700013
7. City Mall Developers Private Limited, A Company Incorporated Under The
Companies Act 1956, Having Its Registered Office At Perfect Chambers,
36, Ganesh Chandra Avenue, Kolkata 700013
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8. IDBI Trusteeship Services Limited (As Security Trustee) A Company
Incorporated Under The Companies Act, 1956 And Having Its Registered
Office At Asian Building, Ground Floor, 17 R, Kamani Marg, Ballard
Estate, Mumbai 400001.
9. ICICI Bank Ltd. A Banking Company Within The Meaning Of The Banking
Regulation Act, 1949 Through Its Authorized Officer, Having Its
Registered Office At Land Mark, Race Course Circle, Vadodara (Gujrat)
390007
---- Respondents
For Petitioners : Mr. R.K. Sanghi, Advocate For Respondent No.1 : Mr. Harishankar Patel, Advocate For Respondents No. 3 to 7 : Mr. Satish Agrawal, Advocate along with Mr. Ankit Singhal, Advocate Hon'ble Mr. Justice P. Sam Koshy Order on Board 28/02/2022
1. The present writ petition was entertained by this Court when the DRT, Jabalpur was not functional taking into consideration the order passed by the Hon'ble Supreme Court in the case of "State Bar Council of Madhya Pradesh Vs. Union of India" in Special Leave to Appeal (C) No. 10911/2021, dated 16.12.2021.
2. The interim order was granted by this Court on 27.01.2022. The interim order passed was to remain till the next date of hearing i.e. when the matter is to be listed in the week commencing 21.03.2022 or till the DRT, Jabalpur becomes functional whichever is earlier.
3. Today, learned counsel appearing for the petitioner submits that the DRT has since become functional from 22.02.2022. That the petitioners have already taken steps for taking up their matter, which was already seized before the DRT for an appropriate interim protection at the earliest. 3 Learned counsel for the petitioner apprehends that by virtue of the DRT, Jabalpur becoming functional, the interim order granted by this Court should not be treated to have been automatically got vacated and therefore prays that a limited period protection be granted enabling the petitioner to pursue their claim before the DRT, Jabalpur.
4. The prayer made by the counsel for the petitioner seems to have fair and reasonable.
5. Considering the fact that the DRT, Jabalpur has now become functional after a considerable period of time, obviously there would be some pressure upon the DRT also taking up all these pending matters, which have accumulated during the course of time.
6. Given the said facts, the present writ petition with the interim direction that was passed by this Court on 27.01.2022 shall continue to operate for a further period up till 21st of March, 2022 as was originally ordered by this Court on 27.01.2022. Meanwhile, the petitioner would be at liberty to approach the concerned Tribunal with a request for taking up their matter for grant of interim relief as prayed for.
7. With the aforesaid observations, the present writ petition stands disposed of.
Sd/-
(P. Sam Koshy) Judge Ved