RAKESH KUMAR JAIN
Hall Mark Steel Pvt. Ltd. – Appellant
Versus
Federal Bank – Respondent
Rakesh Kumar Jain, J.
This order shall dispose of 10 petitions bearing, CWP-COM Nos.62, 66, 68, 74, 75, 78 to 82 of 2017 in which common issue involved is as to whether the Securitisation Application filed by the borrower/guarantor can be dismissed by the Debt Recovery Tribunal [DRT] on the ground that the borrower/guarantor has not lost possession before filing the Securitisation Application in view of a decision rendered by the Debt Recovery Appellate Tribunal, Delhi [DRAT] on 20.03.2017 in Misc. Appeal No.60/2016 arising out of S.A. Dy. No.8/2016 (DRT-II, Delhi) titled as Vikram Bakshi & Company Pvt. Ltd. v. Housing Development Finance Corporation Ltd.?
2. Shorn of unnecessary details, the Securitisation Applications were being entertained by the DRT(s) at Chandigarh till an order was passed by the DRAT in the case of Vikram Bakshi & Company Pvt. Ltd. (Supra) in which it was held that the Securitisation Applications have been treated as premature because the borrower/guarantor has not lost possession of the mortgaged property.
3. Learned counsel for the petitioner has produced the order passed by Delhi High Court in WP (C) 2966 of 2017 in case titled as "Vikram Bakshi & Comp
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