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2022 DIGILAW 71 (CHH)

Vijeta Construction Company v. Pegasus Asset Reconstruction Pvt. Ltd.

2022-02-03

P.SAM KOSHY

body2022
JUDGMENT : P. Sam Koshy, J. 1. The present writ petition has been filed assailing the execution proceedings initiated by the respondent pursuant to the order passed by the Debt Recovery Tribunal, Jabalpur. The respondent has initiated auction proceedings against the petitioners' mortgaged property. 2. At the outset, this Court is of the opinion that the writ petition would not be maintainable for the reason that the matter is one which ought to have been questioned before the DRAT which presently is functional. Moreover, from the proceedings what is reflected is that after having initiated the proceedings under the SARFAESI Act, an order of taking possession under Section 14 was also obtained by the respondent bank from the concerned District Magistrate. Subsequently, the said proceedings were questioned before the DRT, Jabalpur vide O.A. No. 227/2012 questioning the issuance of a recovery certificate against the petitioners. The said O.A. resulted in a compromise between the parties and that a compromise agreement was executed and a consent order was passed on 14.09.2012. 3. The agreement was again defaulted on the part of the petitioners and the respondents again initiated SARFAESI proceedings and an order under Section 14 of the SARFAESI Act was again passed on 10.06.2013 directing for handing over the physical possession of the mortgaged property. The subsequent SARFAESI proceedings also were challenged by the petitioners before the DRT which is still pending consideration. However, there is no interim order in favour of the petitioners for all these periods and the respondents have been proceeding further with the execution of the original order. 4. Given the fact that the DRT, Jabalpur has already passed a compromise order and there is an apparent default on the part of the petitioners in honouring the compromise order, it would not be proper and justified for this Court to entertain the writ petition exercising its writ jurisdiction at this juncture. However, the right of petitioners stands reserved if they so want for approaching the concerned DRAT having jurisdiction over the dispute by filing an appropriate application for ventilating their grievances. After availing the said remedy the petitioners can approach the concerned respondent herein for deferring the execution proceedings at least till their application is taken up for hearing on the interim application by the Appellate Tribunal. 5. With the aforesaid liberty the writ petition as of now stands disposed of.