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2023 Supreme(Del) 3398

VIBHU BAKHRU, AMIT MAHAJAN
P. Kanagasabhavathy – Appellant
Versus
Indian Renewable Energy Development – Respondent


Advocates appeared:
Appearance not given, for the Petitioner.
Mr. Apoorv Sarvaria, Advocate, for the Respondents.

JUDGMENT

Vibhu Bakhru, J. The petitioner has filed the present petition, impugning an order dated 15.11.2018, passed by the learned Debts Recovery Appellate Tribunal (hereafter `the DRAT') in Appeal No. 265/2016, captioned Indian Renewable Energy Development Agency Limited (IREDA) v. Sh. P. Kanagasabhavathy & Ors..

2. The controversy in the present case relates to the question as to whether the petitioner is liable for the payment of interest and compensation to the auction purchaser of the mortgaged property on the said sale being set aside at the instance of the petitioner.

3. Briefly stated the relevant facts are that the petitioner had furnished a guarantee for financial assistance disbursed by respondent no. 1 (hereafter `IREDA') to respondent no. 2, M/s South India Fuel Pvt. Ltd. (hereafter `the borrower'). The borrower had failed to discharge the repayment obligations. Consequently, IREDA filed an original application under Section 19 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (O.A. No. 174/2001) before the learned Debts Recovery Tribunal-I, Delhi (hereafter `the DRT') for recovery of a sum of Rs.15,56,440/- along with interest.

4. The learn

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