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2024 DIGILAW 128 (MP)

ASHA PANDEY v. CENTRAL BANK OF INDIA, SHAHDOL

2024-01-30

SHEEL NAGU, VINAY SARAF

body2024
ORDER : 1. This petition has been filed seeking review of order dated 12-1-2024 passed in Writ Petition No. 32130/2023 passed by this Court, while disposing of the petition raising grievance of non execution of an order passed under section 14 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity “SARFAESI Act”). Concluding part of order under review is as follows: “2. Considering the short prayer made and with the consent of other side, this petition is disposed of with a direction that in case order dated 9-10-2023 (Annexure P/1) of Additional Collector, District Shahdol has not yet been executed, then the same shall be executed by Tehsildar Sohagpur, District Shahdol within 30 days from the date of receipt of copy of this order by handing over possession of secured asset to the petitioner-financial institution.” 2. The borrower has filed this review petition primarily on two grounds: (i) In W.P. No. 32130/2023, the Bank suppressed material fact that S.A. No. 1039/2023 is pending in DRT where certain interim orders were passed. (ii) In W.P. No. 32130/2023, the Bank gave an impression to this Court that no outstanding amount could be recovered by Bank and therefore, it is essential to obtain the possession of assets whereas auction had already been held. 2.1. In this regard, learned counsel for review petitioner by referring to order dated 14-11-2023 passed in S.A. No. 1039/2023 by DRT, Jabalpur submits that Rs. 2,28,00,000/- has already been deposited by auction purchaser pursuant to the auction held on 18-8-2023 and thus, need to take possession and liquidate the secured assets does not arise. 3. As regards the first ground of suppression, it is seen from the petition i.e. Annexure-A/2 in particular paragraph No. 2, titled as “Declaration that no proceeding on the same subject has been previously instituted in any Court, authority or Tribunal”, which is reproduced below for ready reference: 2. Petitioner declares that the proceeding on the instant subject matter has not been previously instituted before any Court of law. The petitioner bank has filed original application for recovery of dues before DRT Jabalpur which is pending and the respondent No. 6 has filed Securitization application before DRT Jabalpur vide S.A. No. 1039/2023 which is pending, however no stay is granted in their favour. The petitioner bank has filed original application for recovery of dues before DRT Jabalpur which is pending and the respondent No. 6 has filed Securitization application before DRT Jabalpur vide S.A. No. 1039/2023 which is pending, however no stay is granted in their favour. E. That, the mortgage property is already sold, if possession is not been handed over to the auction purchaser, the petitioner will face irreparable loss. 3.1. From the above, it is evident that, if not full disclosure, some material facts have been disclosed as regards pendency of S.A and the DRT having not passed any interim order in favour of borrower. Thus, this Court is of the considered view that the case does not fall within the category of suppression of material facts. 4. As regards second ground, it is clear from paragraph 6 of the interlocutory order passed in S.A. No. 1039/2023 dated 14-11-2023 that the auction took place on 28-2-2023 pursuant to which the auction purchaser Deendayal Keshwarwani deposited Rs. 2,28,00,000/-. As such it becomes the statutory obligation of the bank to take possession of secured assets and handed over to the auction purchaser. Thus, there is no force in the second ground too. 5. No case for interference is made out in the absence of any palpable error in the order under review. 6. Before parting it is made clear that any observations or findings recorded in the order are solely for deciding this case and shall not prejudice the rights and obligations of rival parties in S.A. No. 1039/2023. 7. With the aforesaid observations, this review petition stands disposed of.