Back
VIBHU BAKHRU, AMIT MAHAJAN
Rajdhani Cold Storage Pvt. Ltd. – Appellant
Versus
Punjab And Sind Bank – Respondent
JUDGMENT
Vibhu Bakhru, J.
1. The petitioner has filed the present petition, inter alia, praying as under:
"a. Quash all the proceedings apropos the property in question of the petitioner company viz. C-51, Lawrence Road Industrial Area, Delhi-110035, pending before the Ld. DRT-II, New Delhi in and emanating from O.A No. 677/2000 and O.A No. 88/2004 titled `Punjab & Sind Bank vs M/s Delhi Automobiles Limited & Ors.; and
b. Consequently, direct the respondent Bank to forthwith release and hand over the original title deed documents apropos the property in question viz. C-51, Lawrence Road Industrial Area, Delhi-110035 to the petitioner company, illegally and unjustifiably withheld by the respondent Bank, since the Year 1998; OR Alternately
c. Set aside the impugned orders dated: 07.02.2023 passed by the Ld. DRAT, New Delhi in Appeal No. 29/2022 and Appeal No. 36/2022 titled `M/s Rajdhani Cold Storage Pvt. Ltd. vs Punjab & Sind Bank & Ors.' and consequently, direct the Recovery Officer in recovery proceedings in R.C. No. 378/2012 titled `Punjab & Sind Bank vs M/s Delhi Automobiles Limited & Ors.' to examine the petitioner company's application afresh on merits, filed vide Diary No.4191/2
The court clarified that there is no provision in the Recovery of Debts and Bankruptcy Act ousting the remedy of a civil suit by a defendant in a claim by the bank, and the proceedings under the Act ....
The Debts Recovery Tribunal has jurisdiction to set aside ex parte decrees under the Recovery of Debts Due to Banks and Financial Institutions Act.
(1) Recovery of loan amount – There is no provision in RDB Act by which remedy of a civil suit by a defendant in a claim by bank is ousted, but it is matter of choice of that defendant.(2) There is n....
The central legal point established in the judgment is the importance of upholding consent terms, the obligations of the parties, and preventing deliberate obstruction of recovery proceedings.
The main legal point established in the judgment is that the petitioner fulfilled the conditions mentioned and directed the Bank to furnish the information and basis of calculation of 10% per annum i....
The superior court can intervene in cases of manifest injustice but must defer to statutory appellate processes if adequately pursued.
An unregistered family arrangement cannot bind third-party creditors; delays in litigation undervalue statutorily established recovery rights.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
