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IN THE HIGH COURT OF HIMACHAL PRADESH, SHIMLA
VIVEK SINGH THAKUR, ROMESH VERMA
H.P. State Co-operative Bank Ltd. through its Managing Director – Appellant
Versus
State of H.P. – Respondent
| Table of Content |
|---|
| 1. loan sanctions and repayment terms stipulated. (Para 1 , 2 , 3) |
| 2. sarfaesi proceedings quashed by drt. (Para 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11) |
| 3. arbitration awards remanded for fresh disposal. (Para 12 , 13) |
| 4. parties argue remand validity on procedure. (Para 14 , 15 , 16 , 31) |
| 5. borrowers admit liability, seek repeated delays. (Para 17 , 18 , 19 , 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30) |
| 6. admissions obviate framing of issues. (Para 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39) |
| 7. prolonged litigation shows delay tactics. (Para 40 , 41 , 42 , 43 , 44 , 45 , 46 , 47) |
| 8. ots offered but not complied with. (Para 48 , 49 , 50 , 51 , 52 , 53) |
| 9. remand erroneous absent factual disputes. (Para 54 , 55 , 56 , 57) |
| 10. remand quashed; expeditious merits decision. (Para 58 , 59 , 60 , 61) |
JUDGMENT :
ROMESH VERMA, J.
1. The present writ petition arises out of the order dated 12.07.2019, passed by the Additional Registrar (Administration) Co-operative Societies H.P., whereby, Appeal Nos. 329, 330 and 331 of 2016 have been disposed off by setting-aside the award passed by the Arbitrator (Bank) and case was sent back to him for fresh disposal of the dispute under Section 72 of
Where borrowers admit loan liability in arbitration proceedings under Co-operative Societies Act, no issues need framing nor evidence recording; appellate remand solely on procedural grounds without ....
The main legal point established in the judgment is the limitation of the Arbitrator's powers, the calculation of arbitration costs, and the recovery fee under the rules, and the court's emphasis on ....
The main legal point established in the judgment is the jurisdictional limitations of the authority under the U.P. Co-operative Societies Act, 1965 and the availability of statutory alternative remed....
The failure to provide a signed copy of the arbitral award invalidates the presumption of service, thus impacting the limitation period for appeals.
Public sector banks must adhere to principles of fairness and non-arbitrariness in their dealings, as established under Article 14 of the Constitution.
Finality of a prior judgment bars new proceedings under the SARFAESI Act when based on the same invalid security, reinforcing jurisdictional limits of financial institutions.
Point of law: Loans by financial institutions are granted from public money generated at the taxpayer’s expense. Such loan does not become the property of the person taking the loan, but retains its ....
The main legal point established in the judgment is the limitation on the power of the Debts Recovery Tribunal to condone delay in filing an appeal under the SARFAESI Act, as clarified by the Supreme....
A writ petition is maintainable against a scheduled bank under Article 226 of the Constitution of India, as the bank is performing public functions and is governed by the provisions of the Banking Re....
The judgment establishes the court's power to grant extension of time for payment under the OTS, based on the RBI guidelines and the principles of equity and justice.
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