Everest Fincap Pvt. Ltd. VS Krishna Realtors

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

B.R.GAVAI, RIYAZ I.CHAGLA
Everest Fincap Pvt. Ltd. – Appellant
Versus
Krishna Realtors – Respondent

Counsel for the Parties:
For the Petitioner:Mr. P. Chidambaram, Sr. Counsel a/w Pravin Samdhani, Sr. Counsel, a/w S.U. Kamdar, Sr. Counsel, Dhawal J. Mehta, Swapnil Khatri, Chirag Kamdar, Krishna Moorthy, Abilash Pradhan, Amogh Singh i/b M/s. Wadia Ghandy and Co., Advocates
For the Respondent No.1:Mr. S.S. Dube a/w Nagendra Dube, Advocates
For the Respondent No.2:Mr. J.P. Cama, Sr. Counsel a/w Gautam Mehta and Devanshu P. Desai, Advocates
For the Respondent No.3:Mr. Prasad Dani, Sr. Counsel a/w Bidan Chandran, Ms. Sarojini Patil i/b Ms. Poonam Utekar, Advocates
For the Respondent No.4:Ms. Pooja Batra i/b M/s. Bodhanwalla and Co., Advocates
For the Respondent Nos.5 to 9:Ms. Pooja Kshirsagar Wagle, Advocate
For the Respondent No.10:Mr. Girish Godbole, Sr. Counsel a/w Karl Shroff and Bimal Bhabhda, Advocates
For the Respondent No.16: Mr. B.B. Parekar a/w Dr. Deepti Mukesh for Official Liquidator

JUDGMENT

B. R. Gavai, J.— The Petitioners have approached this Court being aggrieved by order dated 22nd August, 2008 passed by the Debt Recovery Appellate Tribunal, Mumbai (for short “DRAT”) in Misc. Appeal No. 36 of 2006 and 52 of 2006, arising out of the order dated 29th November, 2005 passed by the Debt Recovery Tribunal (for short “DRT”).

2. The facts in brief of which the present petition arises are as under:

3. The immovable property, which is subject matter of the present petition, is situated at 51, Maulana Azad Road, Gadge Maharaj Chowk, Mumbai admeasuring 28,437.29 sq. mts. (hereinafter referred to as the “said property”) belonging to M/s. Bradbury Mills Ltd. (hereinafter referred to as the “said Company). It appears from the record that originally the management of the said Company was with Ruia Group i.e. Respondent Nos. 5 to 9. The management of the said Company somewhere in June, 1975 came to be transferred to Karnani group i.e. Respondent Nos. 10 to 14. The said Company was advanced a loan by Respondent No. 3 - United Commercial Bank (for short “UCO Bank”) and Respondent No. 4 Bank of India (for short “BOI”). The Ruia group as well as Karnani group had executed securit

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B.R.GAVAI, RIYAZ I.CHAGLAEverest Fincap Pvt. Ltd. – AppellantVersusKrishna Realtors – Respondent

Cases Referred (28)

B.R.GAVAI, RIYAZ I.CHAGLA
Everest Fincap Pvt. Ltd. – Appellant
Versus
Krishna Realtors – Respondent