Delhi High Court - Orders
Kapsons Engineers Pvt Ltd And Others vs Idfc First Bank Limited And Others on 10 January, 2022
Author: Vipin Sanghi
Bench: Vipin Sanghi, Jasmeet Singh
$~29
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 478/2022 & CM APPLs. 1362-1364/2022
KAPSONS ENGINEERS PVT LTD AND OTHERS ..... Petitioners
Through: Mr. Rajive Maini and Ms. Shriya
Maini, Advs. with Shri Anuj Kapoor
(Petitioner)
versus
IDFC FIRST BANK LIMITED AND OTHERS ..... Respondents
Through: Mr. Sanjeev Singh, Mr. Prashant
Tripathi and Ms. Kajal Bhatia, Advs.
for R-1.
Mr. Sanjiv Kakra, Sr. Adv. with
Ms.Nidhi Mohan Parashar &
Mr.Abhishek Batra, Advs. for R-2.
CORAM:
HON'BLE MR. JUSTICE VIPIN SANGHI
HON'BLE MR. JUSTICE JASMEET SINGH
ORDER
% 10.01.2022
1. The present petition has been preferred by the petitioner to assail the order dated 13.12.2021 and all subsequent orders passed by the Presiding Officer, DRT Jaipur in the matter "KAPSONS ENGINEERS PVT. LTD. & ORS. versus IDFC FIRST BANK & ORS." in TSA No. 53/2021, which is now listed on 11.01.2022. The petitioner/mortgagers aforesaid application under Section 17 of the SARFAESI Act is pending consideration before DRT Jaipur after transfer by this Court to the said DRT from DRT Delhi since there was no Presiding Officer at the relevant point of time managing the cases of DRT, Delhi.
2. The Court while transferring the petitioner's Securitization Signature Not Verified Digitally Signed By:AMIT ARORA Signing Date:13.01.2022 11:56:36 Applications for hearing, had specifically observed that any further proceedings taken by the respondent is subject to the outcome of the pending applications. In this case the possession of the secured asset was taken on 09.10.2019. After two failed attempts to auction the property, the same was finally auctioned on 06.11.2021. The possession of the property was delivered to the auction purchaser and after the matter was transferred to DRT Jaipur, the sale certificate has also been issued. The primary grievance of the petitioner is that the sale certificate has been issued despite pendency of the Securitization Application. We do not find any merit in this grievance of the petitioner since the Court has clearly stated that whatever steps are taken by the respondent bank shall be subject to orders of the DRT in the pending application. There was no order granting any stay against issuance of sale certificate. Therefore, the petitioner can possibly have no grievance against the issuance of the sale certificate which is, of course, subject to outcome of the pending Securitization Application.
3. The matter is now coming up before DRT Jaipur on 11.01.2022. We are hopeful that the DRT Jaipur shall conclude the proceedings at the earliest and pronounce orders on the applications being dealt with by it expeditiously.
4. The petition along with all pending applications, if any, stands dismissed in the aforesaid terms.
VIPIN SANGHI, J JASMEET SINGH, J JANUARY 10, 2022/sr Signature Not Verified Digitally Signed By:AMIT ARORA Signing Date:13.01.2022 11:56:36