Sapt Rishi Iron and Steel Private Limited v. Recovery Officer-II, Debts Recovery Tribunal
2023-10-17
RAKESH THAPLIYAL, VIPIN SANGHI
body2023
DigiLaw.ai
JUDGMENT : Vipin Sanghi, J. The petitioner has preferred the present writ petition to assail the order dated 25.09.2023, passed by the Recovery Officer-II, Debts Recovery Tribunal, Paras Tower, Majra, Dehradun. 2. The impugned order reads as follows : “BEFORE THE RECOVERY OFFICER-II DRT, DEHRADUN R.C. No. 67/2019 (O.A. 201/2018) Indian Overseas Bank V/s M/s Uttaranchal Iron & Ispat Ltd. & Ors. Date : 25.09.2023 Present: Mr. B.P. Singh, Counsel for CH Bank, Mr. Vibhor Maheshwari, Counsel for Third Party Objector, Mr. Karm Solanki, Counsel for CD No. 5, Ms. Priyanka Dabral, Counsel for Mr. Munish Kumar. The comments of CH Bank qua objections of Third Party Objector has been filed vide dy. no. 9459, comments qua objections of CD No. 5 vide dy. no. 9461 and comments to objections of Mr. Munish Kumar purported to be director of CD No. 1 vide dy. no. 9460 of the even date 25.09.2023, which are taken on record. Further, the CH Bank has also filed IA No. 862/2023 vide dy. no. 9458 dated 25.09.2023 praying for appointment of Receiver for taking possession of the subject properties with the assistance of Police authorities. The CH Bank has also sought permission to appoint guard at the factory premises at Plot No. 2, 3, 4, 5, 6 & 7, Jasodharpur, Industrial area, Kotdwar, Distt. Pauri Garhwal, Uttarakhand in order to safeguard the movable and immovable assets. Heard the contesting counsels at length on the objections raised against the e-auction scheduled on 26.05.2023 and Order Reserved thereon. In view of the scheduled auction it is expedient that the interest of the prospective purchasers are protected hence the IA of the CH Bank is taken up for consideration. The Counsel for CD No. 5 has sought time to file objections against bank’s prayer of physical possession. Allowed. As regards the prayer of the CH Bank seeking permission to appoint security guards at the above property for ensuring the safety of the movable and immovable assets, I am of the considered view that it would be equitable to grant the said permission so that the hypothecated assets are not removed / depleted. Hence the prayer of the CH Bank is allowed. The CH Bank is directed to appoint sufficient numbers of guards 24X7 for safeguarding the movable and immovable assets.
Hence the prayer of the CH Bank is allowed. The CH Bank is directed to appoint sufficient numbers of guards 24X7 for safeguarding the movable and immovable assets. In case any resistance is offered by the CDs or by any third party objectors towards the implementation of the said orders the CH Bank shall be entitled to seek assistance from the concerned Station House Officer of the Police authorities / District Administration towards compliance of the above order. List on 26.09.2023 for e-auction report. Let this order be uploaded on e-drt portal. (Rakesh Pratap Singh) Recovery Officer-II DRT, Dehrdun” 3. The only operative part of this order is in relation to the Certificate Holder Bank being directed to appoint sufficient numbers of guards 24X7 for safeguarding the movable and immovable assets. It has been observed that in case any resistance is offered by the Certificate Debtors or by any third party objectors towards the implementation of the said order, the Certificate Holder Bank shall be entitled to seek assistance from the concerned Station House Officer of the Police authorities / District Administration towards compliance of the said order. 4. Counsel for the petitioner states that the petitioner is not aggrieved by that part of the order. He submits that the order had been reserved on the objections raised by the petitioner against e-auction, which was scheduled on 26.05.2023. However, that order has not been pronounced till date. Perusal of Annexure-8 filed with this petition shows that the matter was listed on 09.10.2023 for pronouncement of orders reserved on 29.05.2023. It is not disclosed – as to what transpired on the said date, i.e., 09.10.2023. 5. In our view, there is no merit in this petition. It is for the petitioner to approach the DRT, in case the petitioner is aggrieved by the impugned order passed by the Recovery Officer, under Section 30 of the Recovery of Debts and Bankruptcy Act, 1993. 6. The writ petition is, accordingly, dismissed. 7. Interim Relief Application (IA No. 01 of 2023) also stands disposed of.