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Showing contexts for: IIFL in Vishakha Aggarwal vs Iifl Home Finance Ltd. And Ors on 16 November, 2021Matching Fragments
% 16.11.2021 The proceedings in the matter have been conducted through hybrid mode [physical and virtual hearing].
CM APPL. 40661/2021 (for exemption) Exemption allowed, subject to all just exceptions. This application stands disposed of.
W.P.(C) 12899/2021
1. Issue notice. Mr. Pallav Saxena, learned counsel, accepts notice on behalf of the respondent No.1- IIFL Home Finance Ltd. ["IIFL"]. Mr. Gaurav Kakar, learned counsel, accepts notice on behalf of the respondent Nos. 2 and 3. Respondent No.2 is a partnership firm of which the petitioner's husband (respondent No.3 herein) is the only surviving partner. Respondent Nos. 4, 5 and 6 are the other legal heirs of the deceased son of the petitioner. Their presence is not required in view of the order that I propose to pass.
3. The petitioner, in her capacity as a legal heir of one of the partners of the borrower firm, has instituted the present petition against the measures taken by IIFL for possession of the property under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ["SARFEASI Act"]. By an order dated 10.09.2021, the Chief Metropolitan Magistrate ["CMM"] has, on the application of IIFL, appointed a Receiver to take possession of the property. In the meanwhile, the respondent nos. 4 to 6 instituted proceedings against IIFL before the DRT, Chandigarh, which has passed an order dated 04.10.2021, directing IIFL not to take any coercive steps in respect of the second floor of the property which is under the occupation of the said respondents. The CMM has thereafter passed an order dated 01.11.2021 clarifying that the Receiver would take possession of the property, excluding the second floor thereof. The Receiver has given a notice dated 02.11.2021, proposing to take possession of the property on 18.11.2021. The petitioner has challenged the action of IIFL by way of proceedings under Section 17 of the SARFAESI Act filed before the Debts Recovery Tribunal ["DRT"]- I, Delhi vide Diary No. 226/2021 dated 12.11.2021. However, the application has not been taken up for hearing as the DRTs in Delhi are presently non-functional for want of Presiding Officers. It is in these circumstances that the petitioner has been compelled to approach this Court under Article 226 of the Constitution.
4. There is considerable controversy between the parties as to the facts of the present case. It is, however, undisputed that the respondent Nos. 4, 5 and 6 have filed a Civil Suit in this Court being CS (OS) No. 142/2020 for partition, in which the Court has granted an interim injunction. It is the case of the IIFL that the injunction granted by the order of this Court dated 17.06.2020 has not been extended by subsequent orders, and that IIFL is not a party to the suit.
5. Be that as it may, IIFL has also instituted proceedings under Section 9 of the Arbitration and Conciliation Act, 1996, against the respondent No. 2 and the respondent No.3 herein. Mr. Saxena refers to an order dated 27.09.2021, passed by this Court in OMP(I)(COMM) 295/2021 regarding a statement of the respondent No.3 to the effect that he is taking all possible steps to liquidate the liability towards IIFL as he is the only surviving partner of the respondent No. 2. As recorded above, the respondent No. 4 has also challenged the measures taken by the IIFL under the SARFAESI Act in respect of the portion of the property in her possession by way of Securitization Application being SA No. 150/2021 before the DRT-II, Chandigarh. By an order dated 04.10.2021, the DRT- II, Chandigarh has directed IIFL not to take any coercive actions with regard to the second floor of the mortgaged property until further orders.