Supreme Court - Daily Orders
M/S. Kalpana Cold Storage Pvt. Ltd. vs Central Bank Of India on 16 February, 2016
Bench: Anil R. Dave, Shiva Kirti Singh, Adarsh Kumar Goel
1
OUT TODAY
ITEM NO.601 COURT NO.2 SECTION XI
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition(s) for Special Leave to Appeal (C) No(s). 4512/2016
(Arising out of impugned final judgment and order dated 05/01/2016
in WPC No. 69682/2015 passed by the High Court Of Judicature at
Allahabad)
M/S. KALPANA COLD STORAGE PVT. LTD. AND ANR. Petitioner(s)
VERSUS
CENTRAL BANK OF INDIA AND ANR. Respondent(s)
(with appln. (s) for exemption from filing c/c of the impugned
judgment and interim relief)
Date : 16/02/2016 This petition was called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE ANIL R. DAVE
HON'BLE MR. JUSTICE SHIVA KIRTI SINGH
HON'BLE MR. JUSTICE ADARSH KUMAR GOEL
For Petitioner(s) Mr. V.K. Shukla, Adv.
Mr. B.K. Pandey, Adv.
Dr. Rajeev Sharma,Adv.
Mr. Aviral Mehrotra, Adv.
For Respondent(s)
UPON hearing the counsel the Court made the following
O R D E R
Heard the learned counsel for the
petitioner-debtor.
Signature Not Verified
It has been submitted by him that the amount
Digitally signed by
NEELAM GULATI
Date: 2016.02.16
17:19:39 IST payable by the petitioner to the respondent-creditor
Reason:
Bank, is approximately Rs.3,41,00,000/- (Rupees three
crores and forty one lakhs only) and according to him, the value of his cold storage plant along with land 2 appurtenant thereto is more than Rs.5,00,00,000/- (Rupees five crores only), hence there are all chances that the said property would fetch more than Rs.5,00,00,000/- (Rupees five crores only) and from the sale proceed thereof, it would be possible to pay the entire amount payable to the respondent-creditor-Bank. It has been further submitted that if the said cold storage plant and the land appurtenant thereto are sold first, it would not be necessary to sell the residential house which is occupied by the petitioner.
The afore-stated submission made by the learned counsel for the petitioner appears to be quite fair and therefore, we direct the respondent-Bank to auction the property No.2 (as stated in the advertisement) i.e. the cold storage plant and machinery and the land appurtenant thereto at first instance. If the amount realised therefrom is more than the amount which is payable to the respondent-creditor Bank, the residential bungalow of the petitioner shall not be sold.
In view of the afore-stated direction, the Special Leave Petition stands disposed of.
A copy of this order shall be forwarded to the respondents.
(NEELAM GULATI) (JASWINDER KAUR)
COURT MASTER COURT MASTER