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Harikrishna Engineering Works & Others v/s Syndicate Bank & Another


Company & Directors' Information:- M & B ENGINEERING LIMITED [Active] CIN = U45200GJ1981PLC004437

Company & Directors' Information:- G. R. ENGINEERING PRIVATE LIMITED [Active] CIN = U65990MH1990PTC058602

Company & Directors' Information:- G G ENGINEERING LIMITED [Active] CIN = L28900MH2006PLC159174

Company & Directors' Information:- V U B ENGINEERING PRIVATE LIMITED [Active] CIN = U29290MH2005PTC154033

Company & Directors' Information:- N S ENGINEERING COMPANY PVT LTD [Active] CIN = U29219TG1989PTC010511

Company & Directors' Information:- S S S ENGINEERING COMPANY PRIVATE LIMITED [Strike Off] CIN = U27205KA1981PTC004194

Company & Directors' Information:- H M G ENGINEERING LIMITED [Active] CIN = U45200MH1977PLC019533

Company & Directors' Information:- K R R ENGINEERING PRIVATE LIMITED [Active] CIN = U29309TN1989PTC016852

Company & Directors' Information:- G G ENGINEERING LIMITED [Active] CIN = U28900MH2006PLC159174

Company & Directors' Information:- D B ENGINEERING PRIVATE LTD [Active] CIN = U74899DL1986PTC026541

Company & Directors' Information:- G G ENGINEERING PRIVATE LIMITED [Active] CIN = U28900MH2006PTC159174

Company & Directors' Information:- J P ENGINEERING CORPN PVT LTD [Active] CIN = U34103WB1951PTC019638

Company & Directors' Information:- S N B ENGINEERING PRIVATE LIMITED [Active] CIN = U27106DL2007PTC301213

Company & Directors' Information:- T P W ENGINEERING LTD [Active] CIN = U27203WB1975PLC029939

Company & Directors' Information:- J K ENGINEERING WORKS LTD [Strike Off] CIN = U29221UP1964PLC003014

Company & Directors' Information:- C L ENGINEERING PRIVATE LIMITED [Active] CIN = U34300PB1992PTC012057

Company & Directors' Information:- K. N. ENGINEERING WORKS PRIVATE LIMITED [Active] CIN = U29299HR2011PTC044098

Company & Directors' Information:- W & W ENGINEERING PRIVATE LIMITED [Active] CIN = U72900TN2003PTC051228

Company & Directors' Information:- M L R ENGINEERING PRIVATE LIMITED [Active] CIN = U74999TG2006PTC051974

Company & Directors' Information:- K B ENGINEERING CO PVT LTD [Active] CIN = U74160TG1988PTC008366

Company & Directors' Information:- R P ENGINEERING PVT LTD [Active] CIN = U29299WB1992PTC055482

Company & Directors' Information:- J & K ENGINEERING LIMITED [Active] CIN = U45203JK2006PLC002684

Company & Directors' Information:- S P T ENGINEERING PRIVATE LIMITED [Converted to LLP] CIN = U27109UP2005PTC030940

Company & Directors' Information:- M J ENGINEERING WORKS PRIVATE LIMITED [Active] CIN = U27109DL1991PTC043687

Company & Directors' Information:- A R F ENGINEERING LIMITED [Active] CIN = U27200TN1980PLC008347

Company & Directors' Information:- A M ENGINEERING PRIVATE LIMITED [Amalgamated] CIN = U65910MH1981PTC187856

Company & Directors' Information:- S. S. E. ENGINEERING PRIVATE LIMITED [Active] CIN = U36990MH2007PTC175320

Company & Directors' Information:- C T ENGINEERING LIMITED [Strike Off] CIN = U29259GJ1986PLC009007

Company & Directors' Information:- R AND S ENGINEERING INDIA PVT LTD [Active] CIN = U29199GJ1995PTC027661

Company & Directors' Information:- U AND R ENGINEERING PRIVATE LIMITED [Active] CIN = U29199TZ1999PTC009012

Company & Directors' Information:- I Q ENGINEERING (INDIA) PRIVATE LIMITED [Active] CIN = U85110KA1996PTC021507

Company & Directors' Information:- G M ENGINEERING PRIVATE LIMITED [Active] CIN = U28910GJ2013PTC077091

Company & Directors' Information:- W. E. ENGINEERING PVT. LTD. [Active] CIN = U52335WB1985PTC039370

Company & Directors' Information:- R. N. ENGINEERING WORKS PVT LTD [Active] CIN = U27101WB1982PTC034586

Company & Directors' Information:- L. B. ENGINEERING PRIVATE LIMITED [Active] CIN = U74999WB2018PTC225084

Company & Directors' Information:- R I ENGINEERING (INDIA) PRIVATE LIMITED [Active] CIN = U74210KA1991PTC012420

Company & Directors' Information:- U D ENGINEERING PRIVATE LIMITED [Active] CIN = U32109DL1999PTC102586

Company & Directors' Information:- K M T S ENGINEERING PRIVATE LIMITED [Active] CIN = U29192DL2005PTC141240

Company & Directors' Information:- C A G ENGINEERING LIMITED [Active] CIN = U00350PB2006PLC029521

Company & Directors' Information:- C A G ENGINEERING LIMITED [Active] CIN = U29110PB2006PLC029521

Company & Directors' Information:- D ENGINEERING PRIVATE LIMITED [Active] CIN = U29269TZ1932PTC000046

Company & Directors' Information:- V K B ENGINEERING PRIVATE LIMITED [Active] CIN = U74899DL2005PTC141483

Company & Directors' Information:- INDIA ENGINEERING PRIVATE LIMITED [Active] CIN = U72200PN1999PTC014259

Company & Directors' Information:- C N C ENGINEERING LIMITED [Strike Off] CIN = U93000KA1986PLC007922

Company & Directors' Information:- I. M. ENGINEERING WORKS PRIVATE LIMITED [Active] CIN = U74200WB2008PTC129701

Company & Directors' Information:- M K V ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29199TZ1997PTC007736

Company & Directors' Information:- G V T ENGINEERING (INDIA) PRIVATE LIMITED [Active] CIN = U29219DL1996PTC082427

Company & Directors' Information:- P. G. P ENGINEERING WORKS LIMITED [Amalgamated] CIN = U99999MH1976PLC019400

Company & Directors' Information:- M S S P ENGINEERING WORKS PRIVATE LIMITED [Active] CIN = U29130TN2008PTC067764

Company & Directors' Information:- K. I. ENGINEERING PRIVATE LIMITED [Active] CIN = U74999WB2009PTC133109

Company & Directors' Information:- G M E P ENGINEERING PRIVATE LIMITED [Active] CIN = U29192DL1998PTC096737

Company & Directors' Information:- J T ENGINEERING PRIVATE LIMITED [Active] CIN = U74899DL1984PTC018756

Company & Directors' Information:- M C ENGINEERING CO PVT LTD [Active] CIN = U74899DL1972PTC006392

Company & Directors' Information:- L N ENGINEERING WORKS PRIVATE LIMITED [Active] CIN = U29300MH1989PTC053803

Company & Directors' Information:- J S G ENGINEERING WORKS PRIVATE LIMITED [Strike Off] CIN = U45202HP2000PTC023398

Company & Directors' Information:- C P ENGINEERING (INDIA) PRIVATE LIMITED [Active] CIN = U27209TN1987PTC014052

Company & Directors' Information:- J B L ENGINEERING PRIVATE LIMITED [Active] CIN = U28112MP2008PTC021459

Company & Directors' Information:- H V S ENGINEERING PRIVATE LIMITED [Active] CIN = U28920MH2005PTC158342

Company & Directors' Information:- S C ENGINEERING CO PVT LTD [Active] CIN = U74210WB1982PTC035623

Company & Directors' Information:- U M ENGINEERING PRIVATE LIMITED [Active] CIN = U29200MH1977PTC019574

Company & Directors' Information:- A V K ENGINEERING PRIVATE LIMITED [Active] CIN = U74899DL1995PTC071971

Company & Directors' Information:- S K ENGINEERING CO PRIVATE LIMITED [Strike Off] CIN = U05001UP1952PTC002408

Company & Directors' Information:- G D ENGINEERING COMPANY (INDIA) PVT LTD [Active] CIN = U74210WB1993PTC058553

Company & Directors' Information:- V M R ENGINEERING PRIVATE LIMITED [Active] CIN = U29120DL2005PTC136764

Company & Directors' Information:- K. S. I. ENGINEERING PRIVATE LIMITED [Active] CIN = U36999HR2007PTC036660

Company & Directors' Information:- N S S ENGINEERING PRIVATE LIMITED [Active] CIN = U28999KA1989PTC010312

Company & Directors' Information:- A P V ENGINEERING CO LTD [Strike Off] CIN = U29113WB1945PLC006428

Company & Directors' Information:- V K ENGINEERING WORKS PVT LTD [Active] CIN = U99999MH1974PTC017405

Company & Directors' Information:- G B ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29212PB1996PTC017500

Company & Directors' Information:- C M S ENGINEERING INDIA PRIVATE LIMITED [Strike Off] CIN = U74210TN2010PTC075302

Company & Directors' Information:- J K B ENGINEERING COMPANY PRIVATE LIMITED [Strike Off] CIN = U31300TN1996PTC036482

Company & Directors' Information:- T S C ENGINEERING PRIVATE LIMITED [Active] CIN = U70109DL2011PTC217251

Company & Directors' Information:- H T S ENGINEERING PRIVATE LIMITED [Active] CIN = U74999MH2008PTC187914

Company & Directors' Information:- T P ENGINEERING PRIVATE LIMITED [Active] CIN = U45201OR2010PTC011517

Company & Directors' Information:- A B ENGINEERING WORKS PVT LTD [Active] CIN = U27109WB1987PTC041780

Company & Directors' Information:- S B ENGINEERING PVT LTD [Active] CIN = U29199GJ1982PTC005292

Company & Directors' Information:- M M ENGINEERING WORKS PRIVATE LIMITED [Active] CIN = U29951UP1995PTC018573

Company & Directors' Information:- S N P ENGINEERING WORKS PVT LTD [Strike Off] CIN = U28991MP1983PTC002124

Company & Directors' Information:- J J ENGINEERING PVT LTD [Active] CIN = U29219WB1986PTC041433

Company & Directors' Information:- D & L ENGINEERING PRIVATE LIMITED [Converted to LLP] CIN = U29113TN2004PTC052690

Company & Directors' Information:- S R SYNDICATE PVT LTD [Active] CIN = U27209WB1979PTC032258

Company & Directors' Information:- C B SYNDICATE PVT LTD [Active] CIN = U51109WB1947PTC015009

Company & Directors' Information:- H R P ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U31503MH1997PTC108621

Company & Directors' Information:- S H ENGINEERING PRIVATE LIMITED [Active] CIN = U70101WB1999PTC088930

Company & Directors' Information:- V K S ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U28133TN2005PTC057283

Company & Directors' Information:- M K ENGINEERING PVT LTD [Active] CIN = U29199GJ1995PTC027278

Company & Directors' Information:- B M ENGINEERING WORKS PVT LTD [Strike Off] CIN = U27109WB1974PTC029283

Company & Directors' Information:- K J ENGINEERING PRIVATE LIMITED [Active] CIN = U29299PN2006PTC129171

Company & Directors' Information:- C S S ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U45302TN2003PTC051161

Company & Directors' Information:- N. S. ENGINEERING WORKS PRIVATE LIMITED [Strike Off] CIN = U29200WB2007PTC116554

Company & Directors' Information:- N. P. ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U31100WB2010PTC150609

Company & Directors' Information:- S R K ENGINEERING CO PVT LTD [Active] CIN = U67120WB1994PTC063442

Company & Directors' Information:- M P T ENGINEERING PVT LTD [Strike Off] CIN = U29299KL1994PTC007761

Company & Directors' Information:- T S R C ENGINEERING PRIVATE LIMITED [Active] CIN = U29100UP2020PTC133920

Company & Directors' Information:- C S ENGINEERING INDIA PRIVATE LIMITED [Active] CIN = U28110MH2021PTC361962

Company & Directors' Information:- A K ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U50300UP1981PTC005354

Company & Directors' Information:- J M ENGINEERING WORKS PVT LTD [Strike Off] CIN = U27109WB1981PTC034279

Company & Directors' Information:- H M T D ENGINEERING PVT LTD [Active] CIN = U99999MH1981PTC035175

Company & Directors' Information:- J P ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U28129MH1972PTC015813

Company & Directors' Information:- V M ENGINEERING COMPANY PRIVATE LIMITED [Active] CIN = U28920MH1969PTC014224

Company & Directors' Information:- H M A ENGINEERING LIMITED [Strike Off] CIN = U45209PB2008PLC031777

Company & Directors' Information:- P T S ENGINEERING INDIA PRIVATE LIMITED [Active] CIN = U74210TZ2011PTC016944

Company & Directors' Information:- K S M ENGINEERING PRIVATE LIMITED [Active] CIN = U74210TG1997PTC028612

Company & Directors' Information:- M M ENGINEERING COMPANY PRIVATE LIMITED [Converted to LLP] CIN = U28932MH1979PTC021819

Company & Directors' Information:- N G T ENGINEERING PVT LTD [Active] CIN = U27109WB1968PTC027292

Company & Directors' Information:- M A S ENGINEERING PRIVATE LIMITED [Active] CIN = U99999MH1976PTC019233

Company & Directors' Information:- K B SYNDICATE PVT LTD [Active] CIN = U51909WB1977PTC031047

Company & Directors' Information:- G R K ENGINEERING (INDIA) PRIVATE LIMITED [Active] CIN = U74200AP2011PTC076356

Company & Directors' Information:- P N S ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29120TN2006PTC060120

Company & Directors' Information:- INDIA ENGINEERING WORKS LTD [Strike Off] CIN = U51900WB1942PLC011320

Company & Directors' Information:- K P ENGINEERING CORPORATION PVT LTD [Strike Off] CIN = U74200WB1961PTC025258

Company & Directors' Information:- M A N INDIA ENGINEERING LTD [Strike Off] CIN = U74200WB1979PLC020893

Company & Directors' Information:- R V K ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29253TN2010PTC074505

Company & Directors' Information:- R T C ENGINEERING WORKS PVT LTD [Active] CIN = U29294WB1964PTC026130

Company & Directors' Information:- R K ENGINEERING COMPANY PVT LTD [Active] CIN = U74899DL1975PTC007743

Company & Directors' Information:- G S A ENGINEERING CORPN PVT LTD [Strike Off] CIN = U74210WB1957PTC023382

Company & Directors' Information:- R M V ENGINEERING WORKS PRIVATE LIMITED [Converted to LLP] CIN = U13203DL2007PTC160014

Company & Directors' Information:- A R M ENGINEERING PRIVATE LIMITED. [Strike Off] CIN = U00500JH1988PTC003057

Company & Directors' Information:- L & V ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U45202MZ2005PTC007690

Company & Directors' Information:- S G A ENGINEERING COMPANY PRIVATE LIMITED [Strike Off] CIN = U29200MH2005PTC154349

Company & Directors' Information:- C P C ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29120TZ1986PTC001880

Company & Directors' Information:- P K R ENGINEERING INDIA PRIVATE LIMITED [Strike Off] CIN = U29130TZ2004PTC011094

Company & Directors' Information:- M N B ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U70101TN2005PTC057442

Company & Directors' Information:- R R K ENGINEERING PRIVATE LIMITED [Active] CIN = U74999WB2011PTC161080

Company & Directors' Information:- M S V ENGINEERING PRIVATE LIMITED [Active] CIN = U52399TG2020PTC147098

Company & Directors' Information:- D M S ENGINEERING CO PVT LTD [Strike Off] CIN = U28920WB1964PTC026168

Company & Directors' Information:- C R T ENGINEERING LIMITED [Strike Off] CIN = U32109DL1990PLC038842

Company & Directors' Information:- S D S ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U28999PN2000PTC014838

Company & Directors' Information:- G B L ENGINEERING COMPANY PRIVATE LIMITED [Strike Off] CIN = U29130RJ1998PTC015182

Company & Directors' Information:- M A ENGINEERING WORKS PVT LTD [Strike Off] CIN = U29222PB1982PTC005117

Company & Directors' Information:- N T ENGINEERING COMPANY PVT LTD [Strike Off] CIN = U99999PY1986PTC000445

Company & Directors' Information:- R K ENGINEERING PRIVATE LIMITED [Active] CIN = U31100MH2005PTC152838

Company & Directors' Information:- V J S ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29130TN1996PTC036636

Company & Directors' Information:- R. K. V. ENGINEERING PRIVATE LIMITED [Active] CIN = U29253MH2010PTC205237

Company & Directors' Information:- U S ENGINEERING PVT LTD [Active] CIN = U34300CH1986PTC006887

Company & Directors' Information:- M B ENGINEERING WORKS PVT LTD [Converted to LLP] CIN = U29230WB1959PTC024166

Company & Directors' Information:- A D ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U74210OR1989PTC002348

Company & Directors' Information:- K. K. SYNDICATE PRIVATE LIMITED [Strike Off] CIN = U52341MP2008PTC021356

Company & Directors' Information:- R J ENGINEERING COMPANY PRIVATE LIMITED [Active] CIN = U27107RJ1972PTC001441

Company & Directors' Information:- Z ENGINEERING WORKS PRIVATE LIMITED [Active] CIN = U29253MH2016PTC271563

Company & Directors' Information:- H F ENGINEERING PRIVATE LIMITED [Active] CIN = U29244KL2013PTC033909

Company & Directors' Information:- O N ENGINEERING PRIVATE LIMITED [Active] CIN = U74899DL1988PTC031987

Company & Directors' Information:- I D M ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29199KA1981PTC004517

Company & Directors' Information:- P S R ENGINEERING PVT LTD [Strike Off] CIN = U40200WB1987PTC042244

Company & Directors' Information:- P N ENGINEERING CO PVT LTD [Strike Off] CIN = U74210WB1980PTC032750

Company & Directors' Information:- A M A R ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29219DL1997PTC084187

Company & Directors' Information:- S G D ENGINEERING PRIVATE LIMITED [Active] CIN = U29210KA2009PTC050452

Company & Directors' Information:- H M ENGINEERING WORKS PVT LTD [Strike Off] CIN = U28991WB1965PTC026593

Company & Directors' Information:- P M ENGINEERING WORKS PRIVATE LIMITED [Strike Off] CIN = U29100PB2014PTC038453

Company & Directors' Information:- G A S ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29191MH2004PTC149606

Company & Directors' Information:- G T ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29219PN2012PTC145781

Company & Directors' Information:- S. K. ENGINEERING AND WORKS PRIVATE LIMITED [Strike Off] CIN = U29253MH2013PTC247348

Company & Directors' Information:- M. M. K. ENGINEERING COMPANY PRIVATE LIMITED [Active] CIN = U29305MH2014PTC252830

Company & Directors' Information:- K-4 ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U31400MH2010PTC204004

Company & Directors' Information:- P. B. ENGINEERING WORKS PRIVATE LIMITED [Active] CIN = U74900MH2012PTC229787

Company & Directors' Information:- J D WORKS PRIVATE LIMITED [Active] CIN = U74999MH2011PTC211791

Company & Directors' Information:- N J ENGINEERING PRIVATE LIMITED [Active] CIN = U45209MH2015PTC262607

Company & Directors' Information:- P R S ENGINEERING PRIVATE LIMITED [Active] CIN = U29253TN2009PTC073915

Company & Directors' Information:- U P S ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U40300TN2013PTC090167

Company & Directors' Information:- M K D ENGINEERING WORKS PVT LTD [Strike Off] CIN = U27209WB1976PTC030736

Company & Directors' Information:- K G D ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U45400WB2014PTC200732

Company & Directors' Information:- T A ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U28992CH2003PTC025800

Company & Directors' Information:- M N A ENGINEERING PVT LTD [Strike Off] CIN = U45202CH2006PTC030215

Company & Directors' Information:- A A P ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U27106DL2005PTC138318

Company & Directors' Information:- A C ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29253DL2011PTC222515

Company & Directors' Information:- S. Z. ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U29253DL2014PTC274095

Company & Directors' Information:- IN ENGINEERING PRIVATE LIMITED [Active] CIN = U74210DL2011PTC212284

Company & Directors' Information:- S M WORKS PRIVATE LIMITED [Active] CIN = U45400DL2014PTC270403

Company & Directors' Information:- J N ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U45400DL2015PTC278906

Company & Directors' Information:- N I ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U45400DL2015PTC280734

Company & Directors' Information:- A N D ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U51502DL2012PTC242516

Company & Directors' Information:- R R V ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U51909DL1997PTC089342

Company & Directors' Information:- Z. M. ENGINEERING PRIVATE LIMITED [Active] CIN = U51909DL2007PTC168270

Company & Directors' Information:- K Y ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U74999DL2013PTC248278

Company & Directors' Information:- R S SYNDICATE PRIVATE LIMITED [Active] CIN = U70200DL2012PTC240501

Company & Directors' Information:- R AND T ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U34300DL2005PTC136846

Company & Directors' Information:- THE ENGINEERING CORPORATION PRIVATE LIMITED [Strike Off] CIN = U99999KA1951PTC000699

Company & Directors' Information:- S J P ENGINEERING CO. PRIVATE LIMITED [Strike Off] CIN = U51505KA2002PTC030808

Company & Directors' Information:- D Y R ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U45205KA2014PTC075105

Company & Directors' Information:- T J ENGINEERING PRIVATE LIMITED [Active] CIN = U28999MH2021PTC353062

Company & Directors' Information:- U P ENGINEERING WORKS PVT LTD [Strike Off] CIN = U29248UP1972PTC003562

Company & Directors' Information:- S I ENGINEERING COMPANY PRIVATE LIMITED [Strike Off] CIN = U27109UP1967PTC003182

Company & Directors' Information:- W D ENGINEERING PRIVATE LIMITED [Active] CIN = U29308MH2020PTC345065

Company & Directors' Information:- S D ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U18101DL1999PTC102948

Company & Directors' Information:- B M S ENGINEERING WORKS PVT LTD [Strike Off] CIN = U31503WB1955PTC022834

Company & Directors' Information:- M B D ENGINEERING PRIVATE LIMITED [Strike Off] CIN = U74210DL2008PTC181446

Company & Directors' Information:- A B C SYNDICATE PVT LTD [Strike Off] CIN = U45201WB1951PTC020116

Company & Directors' Information:- J S SYNDICATE PVT LTD [Strike Off] CIN = U51909WB1956PTC023295

Company & Directors' Information:- M P WORKS PVT LTD [Strike Off] CIN = U22219WB1950PTC018702

Company & Directors' Information:- D G R ENGINEERING WORKS PVT LTD [Strike Off] CIN = U29230WB1962PTC025563

Company & Directors' Information:- A. B. C. ENGINEERING CORPORATION LIMITED [Not available for efiling] CIN = U99999MH1950PLC008192

Company & Directors' Information:-  ENGINEERING COMPANY ( [Not Available for eFiling] CIN = U99999MH1951PLC010002

Company & Directors' Information:- B P ENGINEERING WORKS PRIVATE LIMITED [Strike Off] CIN = U99999MH1972PLC015642

Company & Directors' Information:- S D M SYNDICATE LTD [Strike Off] CIN = U99999WB1950PLC018563

Company & Directors' Information:- F M P ENGINEERING PVT LTD [Strike Off] CIN = U29259GJ1965PTC001337

    R. Letters Patent Appeal No. 1348 of 2016 in R. Special Civil Application No. 20209 of 2016

    Decided On, 19 January 2021

    At, High Court of Gujarat At Ahmedabad

    By, THE HONOURABLE DR. JUSTICE VINEET KOTHARI & THE HONOURABLE MS. JUSTICE GITA GOPI

    For the Appellants: B.M. Mangukiya (437), Tarak Damani (6089), Bela A. Prajapati (1946), Advocates. For the Respondents: Uday R. Bhatt (192), Advocate.



Judgment Text

Cav Judgment:Vineet Kothari, J.1. This Letters Patent Appeal is directed against the order dated 5.12.2016, by which the learned Single Judge dismissed Special Civil Application No.20209 of 2016 filed by the Petitioners M/s.Harikrishna Engineering Works and others.2. The learned Single Judge dismissed the said writ petition filed by the Petitioners only on the ground of availability of alternative remedy to the Petitioners, the borrowers of the certain loans from the Respondent Syndicate Bank, under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act' for short) relying upon several decisions of the Hon'ble Supreme Court in this regard.3. Mr. B.M. Mangukiya, learned counsel for the Appellants urged before us that the main crux of the matter, which does not permit the Appellants to avail such alternative remedy as directed by the learned Single Judge, is that the Respondent Syndicate Bank failed to disburse the working capital loan sanctioned in favour of one of the Appellants M/s.Nilkanth Enterprise, which is a sister concern of M/s.Harikrishna Engineering Works, despite the fact that the said Appellant M/s. Nilkanth Enterprise had made a substantial investment in the said industrial unit on the faith of the promise of the disbursement of such sanctioned loan in favour of the said Appellant M/s. Nilkanth Enterprise to the extent of Rs.14 crore and though the Appellants had invested more than Rs.20 crore, in absence of the timely and punctual disbursement of the said sanctioned working capital loan by the Respondent Syndicate Bank, the entire project came to a standstill and therefore, invoking the principles of promissory estoppel, the writ petition filed by the Appellants seeking disbursement of the said loan in favour of M/s. Nilkanth Enterprise deserved to be allowed. He further submitted that this relief cannot be granted by the Debts Recovery Tribunal under provisions of Section 17 of the SARFAESI Act and consequently, the learned Single Judge has erred in relegating the Appellants to avail such alternative remedy.4. He further submitted that in absence of such fulfillment of promise on the part of the Respondent Syndicate Bank to disburse full amount of sanctioned working capital loan, the Respondent Syndicate Bank is not entitled to invoke the recovery measures under Section 13 of the SARFAESI Act against the present Appellants declaring the Loan Accounts as Non Performing Account and consequently, the entire action on the part of the Respondent Syndicate Bank initiated by issuance of Notice dated 12.8.2016 under Section 13(2) of the SARFAESI Act against these two sister concerns and its partners deserves to be quashed by this Court.5. He further submitted that while other loans in favour of M/s.Harikrishna Engineering Works and Term Loan by way of Housing Loan in favour of Mr. Nitin Mehta, Mrs. Jyotsna Mehta and Mr. Savan Mehta were duly disbursed by the Respondent Syndicate Bank and even the Term Loan in favour of M/s. Nilkanth Enterprise was disbursed, but the working capital loan was not disbursed and that derailed the entire project of development of industrial unit and consequently, the Respondent Syndicate Bank was bound by the principles of promissory estoppel to disburse the same.6. He relied upon the decision in the case of Lotus Hotel Pvt. Ltd. vs. Gujarat State Financial Corporation, reported in AIR 1983 SC 848 : 1983 (2) GLR 1352, which arose from the judgment of the Division Bench of this Court in the case of Gujarat State Financial Corporation vs. Lotus Hotels Pvt. Ltd., reported in 1981 (229) GLR 982 : AIR 1981 Guj 212.7. Per contra, Mr. Uday R. Bhatt, learned counsel for the Respondent Syndicate Bank urged relying upon detailed Affidavit dated 23.1.2017 filed by the Respondent Syndicate Bank before the learned Single Judge that since the said Borrower was not conducting well its loan account and adequate security by way of stocks was not available and even the cases of over billing for the purchase of the plant and machinery was found out by the Respondent Syndicate Bank and there was a non-deposit of margin money, therefore, for all these reasons, the Respondent Syndicate Bank advisably felt that the disbursement of further loan to the said Appellant would be not in the best interest of the Bank, lest the accounts turned Non Performing Accounts. Therefore, the Appellants are not entitled to invoke the extraordinary writ jurisdiction of this Court under Article 226 of the Constitution of India and seek a mandamus from this Court to disburse the said sanctioned amount of working capital loan. He submitted that the principles of promissory estoppel are not applicable as the disbursement of sanctioned amount of loan also depends upon a detailed analysis of the matrix of facts which is a business and economic decision on the part of the Respondent Syndicate Bank. He further submitted that the judgment relied upon by the learned counsel for the Appellants in the case of Lotus Hotel Pvt. Ltd. (supra) is not applicable here in the present case, as the disbursement of the sanctioned Term Loan which depends upon pre-scrutiny of relevant material, is different from the disbursement of the working capital loan which depends upon the subsequent developments after the sanction of working capital loan viz. good conduct of business, availability of stocks for hypothecation, etc. and therefore, the petition filed by the Appellants has no merit.8. He further submitted that since the measures under Section 13 of the SARFAESI Act have been initiated against the Appellants in 2016 and for last 4 years, no effective further measures could be taken in view of the pendency of this litigation and the Appellants are deliberately trying to delay the same further and not allowing the Respondent Syndicate Bank to realise its dues from the sale of the assets mortgaged with them under provisions of the SARFAESI Act. He further submitted that the SARFAESI Act provides for effective alternative remedy under Section 17 of the SARFAESI Act to any person who wants to raise any objection against the measures taken under Section 13 of the SARFAESI Act, who can file an Application under Section 17 of the SARFAESI Act and therefore, the learned Single Judge was right in dismissing the writ petition.9. We have heard learned counsel for both sides and given our earnest consideration to the rival submissions and the judgments cited at bar.10. We are of the considered opinion that the Appellants- borrowers are seeking to put cart before the horse and are raising bogey of promissory estoppel against the Respondent Syndicate Bank at the stage when the accounts have already turned Non Performing Accounts and the Bank has initiated recovery measures under Section 13 of the SARFAESI Act, which is a Special Law enacted by the Parliament with its overriding effect and non-obstante provisions to provide independent power to the Banks and Financial Institutions to undertake recovery by coercive measures by the sale of assets of the borrower for realisation of the dues, which is public money.11. When the recovery measures have been initiated, instead of availing the remedy available to the borrower for raising objection against such recovery measures under Section 17 of the SARFAESI Act before the Debts Recovery Tribunal, the Borrowers have invoked the extraordinary jurisdiction of this Court straightaway under Article 226 of the Constitution of India, as if to put the blame of the accounts turning Non Performing Accounts on the Bank itself. The loans in question in favour of the three borrowers, two firms viz. M/s.Harikrishna Engineering Works and M/s.Nilkanth Enterprise were sanctioned in the middle of the year 2015 and after about one year only, it appears that the accounts turned Non Performing Accounts and the Bank had to initiate measures for recovery under the aforesaid Special Law viz. SARFAESI Act. While monitoring these loan accounts, if the Bank finds that the borrower is not conducting the business in appropriate manner and not properly utilising the money advanced to them under the Loan Accounts in an appropriate manner or no adequate security available in the form of stocks or margin money, the Court cannot compel the Respondent Syndicate Bank to first advance more money to the Borrowers and then seek recovery of more of such outstanding amount under SARFAESI law. It will be like adding fuel to the fire.12. The judgments relied upon by learned counsel for the Appellants Mr. B.M. Mangukiya in the case of Gujarat State Financial Corporation vs. Lotus Hotels Pvt. Ltd. (supra) is not applicable to the case in hand at all. In that case, the Term Loan was sanctioned by the Gujarat State Financial Corporation and on the basis of faith and promise of funds to be made available by such sanctioned loan, the entrepreneur made investments and the Gujarat State Financial Corporation, without any cogent reasons, refused to disburse the said sanctioned amount of Term Loan and in these circumstances, the Division Bench of this Court and the Hon'ble Supreme Court, in an appeal filed by Gujarat State Financial Corporation, held, on facts, that Gujarat State Financial Corporation was bound by the principles of promissory estoppel and could not refuse the disbursement of the sanctioned loan to the Petitioner M/s. Lotus Hotels Pvt. Ltd.13. In the facts before us, the Respondent Syndicate Bank has not only sanctioned the Term Loans which stood disbursed in accordance with the sanction by the Respondent Syndicate Bank but also sanctioned a working capital loan, which was bound to be disbursed in a phased manner only upon the compliance of various conditions including that of maintaining adequate stocks for hypothecation, payment of margin money, etc. If the Respondent Syndicate Bank had found that the Borrowers have not utilised the earlier disbursement of loan amounts in appropriate manner and they took a considered decision not to disburse any further loan amount in the form of working capital loan, the Court cannot obviously direct the Respondent Syndicate Bank to do so.14. We are quite surprised at the stage, at which this prayer for mandamus to disburse loan is made after initiation of recovery measures under Section 13 of the SARFAESI Act and which reveals the real hidden intuition of petitioners behind the apparently innocuous prayer. Though such recovery action appears to have been initiated only after a period of one year of the sanction of the loan, but we cannot hold that per se such action for recovery under the SARFAESI Act would be illegal. The case set up by the Appellants on the anvil of promissory estoppel for disbursement of loan, cannot be allowed to stop the recovery process under the SARFAESI law.15. We are also aware of the fact that one M/s.Harikrishna Engineering Works is a proprietary concern of Mr. Nitin Mehta, while the other firm - M/s.Nilkanth Enterprise is a partnership firm, in which also said Mr. Nitin Mehta appears to be a partner along with other family members. Therefore, all the borrowers who are before us as Appellants, are members of the same family and the loan accounts in favour of three are, therefore, integrally connected and the Respondent Syndicate Bank after satisfying them with the credit worthiness of the said persons only could have sanctioned these loans in the year 2015. However, later on, if the Bank finds that the loan amounts are being misused and loan accounts are not being conducted or operated properly and the Bank refuses to disburse any further loan amount, the Borrowers cannot raise the plea of promissory estoppel and first seek the disbursement of entire loan amount, despite the Bank finding it to be inexpedient and not in the best interest of the Respondent Syndicate Bank. Such economic and financial decisions of experts and financial institutions or banks cannot be subjected to judicial scrutiny in these type of cases in the writ jurisdiction, which is dependent only on Affidavits, without the evidence or facts being proved fully and properly as done in civil trials, as per the Evidence Act.16. Therefore, we are of the considered opinion that the writ petition has been rightly dismissed by the learned Single Judge.17. As far as the question of alternative remedy under Section 17 of the SARFAESI Act is concerned after its amendment by the Act No.44 of 2016 with effect from 1.9.2016, the scope of locus of persons as well as scope of nature of objections, has been widened in the said law and as against the right of Appeal provided earlier only to the Borrowers under the said provisions of Section 17 of the SARFAESI Act, now the substituted words permit 'Application' by any person (including borrower) to be filed, who is aggrieved by any of the measures referred to in sub- section (4) of Section 13 of the SARFAESI Act, which may be taken by Secured Creditor viz. Banks, etc. and the Debts Recovery Tribunal having jurisdiction in the matter is bound to decide such application in accordance with law. Thus, even the plea of promissory estoppel and desired disbursemen

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t of the working capital loan by the Appellant borrowers could have been raised in the form of objection against the measures taken under Section 13(4) of the SARFAESI Act before the Debts Recovery Tribunal.18. The contention raised by the learned counsel for the Appellants Mr. B.M. Mangukiya that the issue raised before this Court in the present writ petition could not have been raised before the Debts Recovery Tribunal, is, therefore, misconceived and is liable to be rejected. The same is accordingly rejected.19. For the same reasons, the cognate contention raised by the learned counsel for the Appellants on the basis of the judgments of the Hon'ble Supreme Court in the case of Standard Chartered Bank vs. Dharmendra Bhoi, reported in (2013) 15 SCC 341 and in the case of Transcore vs. Union of India, reported in (2008) 1 SCC 125, that the Special Tribunal like Debts Recovery Tribunal does not have any inherent power like the constitutional Court and therefore cannot deal with the issue raised by him before this Court, also cannot be accepted.20. For the aforesaid reasons, we do not find any merit in the present appeal filed by the Appellants and the same is liable to be dismissed. The appeal is accordingly dismissed. We make it clear that if the Appellants avail such alternative remedy before the Debts Recovery Tribunal, then the Debts Recovery Tribunal may decide such objections on their own merits in accordance with law. No order as to costs.
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