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State Bank Of India v. M/s. Manav Greys Exim Pvt. Ltd. & Ors

State Bank Of India v. M/s. Manav Greys Exim Pvt. Ltd. & Ors

(Debts Recovery Appellate Tribunal At Mumbai)

Misc. Appeal No. 102/2022 | 06-12-2022

1. This is an Appeal filed by the Defendant Bank in S.A. No. 189/2021 on the files of the Debts Recovery Tribunal-II, Mumbai ('D.R.T.' for short) impugning the interlocutory order passed by the learned Presiding Officer on 05.01.2022 stalling the Sarfaesi measures on the bases of a prima facie case in favour of the applicants therein.

2. The Appeal was taken on the file and now stands posted for reply and hearing. On the hearing submission made by the Ld. Counsel appearing for both sides for some time, and on going through the impugned order, I find that the impugned order was made solely on the basis of prima facie findings of the Ld. P.O. Relief in favour of the applicant in terms of prayer clause 4(a) of the application was granted.

3. Consequently, a detailed reply has been filed and materials supporting their contention have also been placed by the defendant bank, which also will have to look into by the learned Presiding Officer while disposing of the S.A.

4. In view of the above, I find that it is in the interest of justice that the Appeal is disposed of with the direction to the learned Presiding Officer to dispose of the S.A. No. 189/2021 as expeditiously as possible at any rate within a period of two months from the date of receipt of this order, untrammelled by whatever is observed to enter into a prima facie finding in favour of the applicant.

All the issues are kept open and shall be agitated afresh by the parties on the bases of materials placed and reply filed before the D.R.T. and the S.A. is disposed of accordingly within the time mentioned earlier.

The Appeal is disposed of.

Advocate List
  • Charles De’souza, i/b Mr Raj Kumar

  • Kushal Sawant

Bench
  • Ashok Menon, Chairperson
Eq Citations
  • LQ
  • LQ/DRAT/2022/368
Head Note

Debt, Financial and Monetary Laws — Debts Recovery Tribunals Act, 2002 — S. 17 — Appeal against interim order of DRT — Interim order of DRT granting relief to applicant on basis of prima facie case — Held, DRT should dispose of the appeal on merits and all issues are kept open