SRS Advertising & Marketing Pvt. Ltd. & Ors. Vs. Mr. Kamal Garg & Anr-16/02/2022

The High Court has not properly appreciated the fact that what was challenged before it was regarding nongrant of any interim relief pending the appeal before the DRAT. Main appeal was yet to be considered by the DRAT on merits. From the impugned judgment and order passed by the High Court, it appears that the High Court has decided and disposed of the writ petition as if the High Court was considering the final decision of the DRAT.

Sunil Poddar and ORS Vs Union Bank of India-08/01/2008

Recovery of Debts Due to Banks and Financial Institutions Act, 1993—Section 22(2)(g)—Transfer of suit—Ex parte decree—Notice sent to the old address though new address was available—Advertisement also published in a Hindi daily—Defendants aware of the proceedings before the Civil Court—It was not necessary for the Bank to get summonses published in a newspaper after the matter was transferred in accordance with law to the DRT—Actual service of summons is not required if (i) he had notice of the date of hearing of the suit; and (ii) if he had sufficient time to appear and answer the claim of the plaintiff—Impugned order affirmed.

Authorised Officer, Indian Overseas Bank and Another Vs M/s. Ashok Saw Mill-16/07/2009

Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002—Sections 13 and 17—Enforcement of security interest—Jurisdiction of DRT with regard to post 13(4) events—DRT is entitled to question the action taken by secured creditor and transactions entered into by virtue of Section 13(4)—DRT has been vested with authority to even set aside a transaction including sale and to restore possession to borrower in appropriate cases—DRT has jurisdiction to deal with a post 13(4) situation—Action taken by a secured creditor in terms of Section 13(4) is open to scrutiny and cannot only be set aside but even status quo ante can be restored by DRT. 

The remedy to a borrower who received possession notice u/s 13(4) SARFAESI Act is to file an appeal to Debts Recovery Tribunal within 45 days

DELHI HIGH COURT SINGLE BENCH ( Before : Dr. S. Muralidhar, J ) SOMNATH MANOCHA — Appellant Vs. PUNJAB AND SIND BANK AND OTHERS — Respondent Writ Petition (C) 7228 of 2005 Decided on : 17-10-2011 Constitution of India, 1950…