(M/s Krishna Oils Extractions Limited & Ors Vs. Bank of India & Anr.)

Indore, dated:09.01.2018 Parties through their counsel.

The petitioners before this Court have filed this present petition being aggrieved by the order dated 10.08.2016 passed by the District Magistrate, Rajgarh in Case No.22/B-

121/2015-16.

The facts of the case reveal that the aforesaid order was passed by the District Magistrate in exercise of powers conferred under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act, 2002') and thereafter, the petitioner has preferred an appeal before the Debts Recovery Tribunal. The appeal of the petitioner has been disposed of by the Debts Recovery Tribunal vide an order dated 27.04.2017 holding that such an appeal is not maintainable as the possession has not been lost under Section 14 of the Act.

Another aspect of the case is that after an appeal was preferred i.e. securitization application No.131/16, an order of the status-quo was also granted in favour of the petitioner initially and later on, the appeal was dismissed as not maintainable.

Shri Dhanodkar, learned counsel for the respondent/Bank has drawn