w w w . L a w y e r S e r v i c e s . i n



Indiabulls Assets Reconstruction Co. Ltd v/s Baba Steel Fabricators & Others


Company & Directors' Information:- S P FABRICATORS PRIVATE LIMITED [Active] CIN = U25192MH1993PTC072591

Company & Directors' Information:- S A L STEEL LIMITED [Active] CIN = L29199GJ2003PLC043148

Company & Directors' Information:- M M S STEEL PRIVATE LIMITED [Active] CIN = U27109TZ1996PTC006849

Company & Directors' Information:- G. O. STEEL PRIVATE LIMITED [Active] CIN = U27100PB2007PTC031033

Company & Directors' Information:- M N M ASSETS RECONSTRUCTION COMPANY LIMITED [Active] CIN = U70102DL2013PLC248013

Company & Directors' Information:- C P S STEEL INDIA PRIVATE LIMITED [Active] CIN = U27104TZ2003PTC010552

Company & Directors' Information:- J R FABRICATORS LTD [Active] CIN = U28999MH1982PLC027396

Company & Directors' Information:- J M G STEEL PRIVATE LIMITED [Strike Off] CIN = U27105BR1992PTC004985

Company & Directors' Information:- INDIA RECONSTRUCTION CORPORATION LIMITED [Active] CIN = U51109UP1945PLC001293

Company & Directors' Information:- H L STEEL PVT LTD [Active] CIN = U27107AS1992PTC003726

Company & Directors' Information:- K V M STEEL PRIVATE LIMITED [Active] CIN = U29141DL1988PTC031248

Company & Directors' Information:- K STEEL PRIVATE LIMITED [Strike Off] CIN = U27104JH1973PTC000998

Company & Directors' Information:- R. J. STEEL PRIVATE LIMITED [Active] CIN = U28112MH2009PTC193047

Company & Directors' Information:- M M STEEL PRIVATE LIMITED [Active] CIN = U27107MH2001PTC131270

Company & Directors' Information:- P S FABRICATORS PVT LTD [Active] CIN = U27310WB1984PTC037720

Company & Directors' Information:- B L STEEL PVT LTD [Active] CIN = U51909WB1981PTC034021

Company & Directors' Information:- R K G STEEL PRIVATE LIMITED [Active] CIN = U27109DL2004PTC128852

Company & Directors' Information:- V & H FABRICATORS PRIVATE LIMITED [Active] CIN = U51226MP2005PTC017842

Company & Directors' Information:- V B STEEL PRIVATE LIMITED [Active] CIN = U28112MH2010PTC211691

Company & Directors' Information:- I B STEEL COMPANY PRIVATE LIMITED [Strike Off] CIN = U28910MH2010PTC211344

Company & Directors' Information:- INDIA FABRICATORS PRIVATE LIMITED [Active] CIN = U27100WB2007PTC116010

Company & Directors' Information:- Y D STEEL PRIVATE LIMITED [Strike Off] CIN = U27109WB1997PTC086155

Company & Directors' Information:- J S C STEEL PRIVATE LIMITED [Active] CIN = U27106UP2013PTC061568

Company & Directors' Information:- A B C ASSETS PRIVATE LIMITED [Active] CIN = U74120UP2012PTC050282

Company & Directors' Information:- S. M. STEEL PRIVATE LIMITED [Active] CIN = U51101MH2013PTC239811

Company & Directors' Information:- R K P STEEL LTD [Active] CIN = L27109WB1980PLC033206

Company & Directors' Information:- C P STEEL PRIVATE LIMITED [Active] CIN = U27100WB2008PTC127447

Company & Directors' Information:- A. K. J. STEEL PRIVATE LIMITED [Active] CIN = U28112WB2010PTC144880

Company & Directors' Information:- C D STEEL PVT LTD [Under Liquidation] CIN = U27109WB1981PTC034340

Company & Directors' Information:- BABA AND CO PVT LTD [Active] CIN = U74899DL1980PTC011143

Company & Directors' Information:- T M S STEEL PRIVATE LIMITED [Strike Off] CIN = U02710TZ1996PTC007498

Company & Directors' Information:- K S FABRICATORS PRIVATE LIMITED [Strike Off] CIN = U01406DL1988PTC031430

Company & Directors' Information:- G R K FABRICATORS PVT LTD [Active] CIN = U74899DL1988PTC030586

Company & Directors' Information:- P M R STEEL PRIVATE LIMITED [Active] CIN = U51102DL2003PTC122675

Company & Directors' Information:- C T STEEL PVT LTD [Active] CIN = U27109WB2005PTC106634

Company & Directors' Information:- P G STEEL PVT LTD [Strike Off] CIN = U24111AS1998PTC005409

Company & Directors' Information:- M K FABRICATORS PRIVATE LIMITED [Strike Off] CIN = U29211PB1997PTC020722

Company & Directors' Information:- M S FABRICATORS PRIVATE LIMITED [Active] CIN = U28939DL2007PTC159228

Company & Directors' Information:- A AND S STEEL PRIVATE LIMITED [Active] CIN = U63090DL1987PTC027835

Company & Directors' Information:- B N FABRICATORS LIMITED [Active] CIN = U27104AS1994PLC004201

Company & Directors' Information:- S V FABRICATORS PVT LTD [Active] CIN = U28920MH1982PTC028712

Company & Directors' Information:- J S STEEL PRIVATE LIMITED [Active] CIN = U52190CT1978PTC001432

Company & Directors' Information:- U M STEEL PRIVATE LIMITED [Strike Off] CIN = U27209TN1986PTC013670

Company & Directors' Information:- E & G STEEL INDIA PRIVATE LIMITED [Strike Off] CIN = U28113PN2009PTC134643

Company & Directors' Information:- S ASSETS PRIVATE LIMITED [Active] CIN = U74999TN2020PTC137696

Company & Directors' Information:- L N STEEL PRIVATE LIMITED [Active] CIN = U27310WB2007PTC118206

Company & Directors' Information:- K. D. W. STEEL PRIVATE LIMITED [Active] CIN = U28910UP2011PTC043976

Company & Directors' Information:- R. N. STEEL PRIVATE LIMITED [Active] CIN = U27100WB2007PTC116588

Company & Directors' Information:- V D FABRICATORS PRIVATE LIMITED [Active] CIN = U17219DL2005PTC135230

Company & Directors' Information:- P M STEEL PRIVATE LIMITED [Active] CIN = U27105MP1982PTC001915

Company & Directors' Information:- M R STEEL (INDIA) PRIVATE LIMITED [Active] CIN = U27100TG2013PTC088808

Company & Directors' Information:- R V S FABRICATORS PVT LTD [Not available for efiling] CIN = U28999PB1988PTC008507

Company & Directors' Information:- C K STEEL PVT LTD [Active] CIN = U29150WB1975PTC030259

Company & Directors' Information:- A M Q STEEL PRIVATE LIMITED [Strike Off] CIN = U27310UP2012PTC053823

Company & Directors' Information:- K STEEL & COMPANY PVT LTD [Strike Off] CIN = U51909WB1991PTC053960

Company & Directors' Information:- N S STEEL PVT LTD [Strike Off] CIN = U27106PB1980PTC004266

Company & Directors' Information:- A TO Z ASSETS INDIA PRIVATE LIMITED [Strike Off] CIN = U70109TZ2012PTC018070

Company & Directors' Information:- P H FABRICATORS PRIVATE LIMITED [Active] CIN = U27100MH1997PTC105320

Company & Directors' Information:- V K FABRICATORS PRIVATE LIMITED [Active] CIN = U28111CH2001PTC024178

Company & Directors' Information:- J S FABRICATORS PRIVATE LIMITED [Active] CIN = U17111UP1984PTC006596

Company & Directors' Information:- D S P FABRICATORS PRIVATE LIMITED [Converted to LLP] CIN = U27101DL1998PTC094117

Company & Directors' Information:- R C STEEL PVT LTD [Strike Off] CIN = U28112AS1980PTC001811

Company & Directors' Information:- STEEL FABRICATORS (INDIA) PVT LTD [Strike Off] CIN = U27104PB1970PTC002911

Company & Directors' Information:- M K G STEEL PRIVATE LIMITED [Strike Off] CIN = U74899DL1995PTC066480

Company & Directors' Information:- M N FABRICATORS PRIVATE LIMITED [Strike Off] CIN = U34100KA1987PTC008326

Company & Directors' Information:- BABA (INDIA) PRIVATE LIMITED [Strike Off] CIN = U01132RJ1985PTC003474

Company & Directors' Information:- P D STEEL PRIVATE LIMITED [Strike Off] CIN = U74899DL1989PTC038426

Company & Directors' Information:- A K STEEL PVT LTD [Strike Off] CIN = U99999DL1961PTC003566

Company & Directors' Information:- H S P STEEL PRIVATE LIMITED [Strike Off] CIN = U27100MH2013PTC242983

Company & Directors' Information:- R B R STEEL PRIVATE LIMITED [Active] CIN = U51103PB2013PTC037791

Company & Directors' Information:- D H STEEL PRIVATE LIMITED [Strike Off] CIN = U27109RJ2012PTC039742

Company & Directors' Information:- R A STEEL PRIVATE LIMITED [Active] CIN = U51909MH2014PTC253625

Company & Directors' Information:- N M FABRICATORS PVT LTD [Active] CIN = U27109DL2001PTC110528

Company & Directors' Information:- N. V. STEEL PRIVATE LIMITED [Strike Off] CIN = U27310DL2009PTC186541

Company & Directors' Information:- N B FABRICATORS PRIVATE LIMITED [Active] CIN = U28112DL2006PTC147194

Company & Directors' Information:- R A FABRICATORS PRIVATE LIMITED [Active] CIN = U28112DL2009PTC190179

Company & Directors' Information:- K. D. STEEL PRIVATE LIMITED [Strike Off] CIN = U28939DL2012PTC244467

Company & Directors' Information:- BABA CORPORATION PRIVATE LIMITED [Active] CIN = U74900DL2015PTC287693

Company & Directors' Information:- R S FABRICATORS PRIVATE LIMITED [Active] CIN = U29100GJ2020PTC116990

Company & Directors' Information:- STEEL INDIA PRIVATE LIMITED [Strike Off] CIN = U00349KA1958PTC001309

Company & Directors' Information:- STEEL CO PVT LTD [Strike Off] CIN = U51109WB1947PTC015981

Company & Directors' Information:- G P D FABRICATORS PRIVATE LIMITED [Strike Off] CIN = U27104TN1989PTC017586

Company & Directors' Information:- BABA AND COMPANY PRIVATE LIMITED [Dissolved] CIN = U74900KL1946PTC000137

Company & Directors' Information:- INDIA RECONSTRUCTION LIMITED [Dissolved] CIN = U99999MH1947PLC006083

    Appeal No. 15 of 2020

    Decided On, 27 July 2020

    At, Debts Recovery Appellate Tribunal At Mumbai

    By, THE HONOURABLE MR. JUSTICE MR. JUSTICE S. RAVI KUMAR
    By, CHAIRPERSON

    For the Appellant: Rafique Peermohideen, i/b M/s. T.N. Tripathi & Co., Advocates. For the Respondents: R2 (proprietress R1), Ms. Reshma H. Jariwala, R3, Hemish R. Jariwala, Advocates.



Judgment Text

S. Ravi Kumar, Chairperson-1. Heard Advocate for appellant and respondent Nos. 2 and 3 through video conferencing.2. This appeal is preferred against judgment dated 12.3.2020 in Securitization Application (S.A.) No. 474/2019 filed on 10.10.2019 on the file of Debts Recovery Tribunal No. II, Ahmedabad (the Tribunal below).3. Learned Advocate for appellant represented that the main S.A. is filed beyond statutory period of 45 days and the Tribunal below recorded the same in Para 4 of its judgment. It is further submitted though S.A. is filed beyond period of limitation Tribunal below considered merits of the case. It is submitted that the matter may be remitted back to Tribunal below so that opposite party will have an opportunity to explain the delay through proper application which can be decided on merits after giving opportunity to both parties.4. Parties present in person submitted that they have explained the delay for non-filing of S.A. in their reply in the appeal, but they have not filed any separate appeal challenging finding of the Tribunal below on the point of limitation.5. I have perused the material papers and the impugned order dated 12.3.2020. As rightly pointed our by Advocate for appellant, as there is no appeal from the opposite parties, findings with regard to limitation cannot be examined, particularly when the Tribunal below recorded a specific finding stating “Admittedly in this case applicants have failed to approach this Tribunal within 45 days from the date of symbolic possession”. In view of the clear cut finding of the Tribunal below, I am of the view that the request made by Advocate for appellant is quite reasonable. When the same was put to the opposite parties, they have consented for remand.6. Considering the same, the impugned order dated 12.3.2020 in S.A. No. 474 of 2019 is set aside and the matter is remitted back to Tribunal below to decide the S.A. No. 474 of 2019 afresh after giving opportunity to both parties. Tribunal below shall first decide point of limitation and only if the point of limitation is answered in favour of the applicants in the S.A., then to examine the merits of the case and decide it without being influenced by any of the observations made in this order or in the impugned order.7. Accordingly, appeal is ordered and the

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Tribunal below shall decide the S.A. No. 474/2019 within two months from the date of receipt of this order. Appeal is allowed accordingly.8. All Miscellaneous Applications, if any, are dismissed as infructuous.Appeal allowed andMisc. Applications dismissed.
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