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Innovative Organiser LLP v/s Indian Overseas Bank & Others


Company & Directors' Information:- S V CORPORATION LLP [Active] CIN = AAQ-7877

Company & Directors' Information:- INDIAN OVERSEAS CORPORATION PRIVATE LIMITED [Active] CIN = U51900DL2010PTC203948

Company & Directors' Information:- A P T AND CO LLP [] CIN = AAL-8025

Company & Directors' Information:- R D N A AND CO LLP [Active] CIN = AAM-4183

Company & Directors' Information:- C A P A (INDIA) LLP [] CIN = AAF-9325

Company & Directors' Information:- INNOVATIVE INDIA OVERSEAS PRIVATE LIMITED [Active] CIN = U74900MH2011PTC215770

Company & Directors' Information:- A K L R & CO LLP [] CIN = AAK-5155

Company & Directors' Information:- M D S & CO LLP [] CIN = AAF-2760

Company & Directors' Information:- A A A M & CO LLP [Active] CIN = AAT-1669

Company & Directors' Information:- R C A AND CO LLP [Active] CIN = AAU-3441

Company & Directors' Information:- D B Y & CO LLP [] CIN = AAF-3364

Company & Directors' Information:- C A N V A S & CO LLP [] CIN = AAG-1661

Company & Directors' Information:- D K C INDIA LLP [Active] CIN = AAZ-0766

Company & Directors' Information:- E I U INDIA LLP [] CIN = AAG-0189

Company & Directors' Information:- S S S R & COMPANY LLP [Active] CIN = AAS-6238

Company & Directors' Information:- M B S P & CO LLP [] CIN = AAI-4025

Company & Directors' Information:- Y N G AND CO LLP [] CIN = AAJ-6096

Company & Directors' Information:- ECOIRIA LLP [Active] CIN = AAO-2501

Company & Directors' Information:- V S K A & COMPANY LLP [Active] CIN = AAU-5542

Company & Directors' Information:- A M H K LLP [Active] CIN = AAZ-0237

Company & Directors' Information:- F A M S & CO LLP [Active] CIN = AAU-9603

Company & Directors' Information:- N K R G AND CO LLP [Active] CIN = AAX-4256

Company & Directors' Information:- H N C P & CO LLP [Active] CIN = AAT-5981

Company & Directors' Information:- V G R A N D & CO LLP [Under Process Of Strike Off] CIN = AAO-5777

Company & Directors' Information:- R S A C & CO LLP [Active] CIN = AAX-1702

Company & Directors' Information:- A B D AND CO LLP [] CIN = AAG-4228

Company & Directors' Information:- D G K T & CO LLP [Active] CIN = AAY-0763

Company & Directors' Information:- R H D B & CO LLP [] CIN = AAF-9564

Company & Directors' Information:- N J S R & CO LLP [Active] CIN = AAS-6904

Company & Directors' Information:- M S T S AND CO LLP [] CIN = AAJ-9789

Company & Directors' Information:- A G N & CO LLP [Active] CIN = AAT-3343

Company & Directors' Information:- A H S G & CO LLP [Active] CIN = AAU-8429

Company & Directors' Information:- S M B CORPORATION LLP [Active] CIN = ABA-6698

Company & Directors' Information:- J K J S & CO. LLP [] CIN = AAI-5880

Company & Directors' Information:- P R AND CO LLP [Active] CIN = AAN-4788

Company & Directors' Information:- A B A M & CO. LLP [] CIN = AAF-2113

Company & Directors' Information:- M N S H & CO LLP [] CIN = AAG-4390

Company & Directors' Information:- T & R INDIA LLP [] CIN = AAH-4079

Company & Directors' Information:- S G S R & CO LLP [] CIN = AAH-3391

Company & Directors' Information:- D M M & COMPANY LLP [] CIN = AAJ-7431

Company & Directors' Information:- Y S K AND CO LLP [Active] CIN = AAN-5713

Company & Directors' Information:- S P R M & CO LLP [Active] CIN = AAZ-7910

Company & Directors' Information:- B S INNOVATIVE PRIVATE LIMITED [Active] CIN = U24100AP2014PTC092951

Company & Directors' Information:- J K K & COMPANY LLP [Active] CIN = AAX-1522

Company & Directors' Information:- K L S AND CO LLP [] CIN = AAJ-7210

Company & Directors' Information:- A Y K J & CO LLP [Active] CIN = AAS-7373

Company & Directors' Information:- K N A AND CO LLP [Active] CIN = AAU-0083

Company & Directors' Information:- H S K & CO LLP [Active] CIN = AAT-9072

Company & Directors' Information:- N D OVERSEAS LLP [Active] CIN = AAN-1717

Company & Directors' Information:- S D U AND CO LLP [Active] CIN = AAM-9609

Company & Directors' Information:- M P INNOVATIVE PRIVATE LIMITED [Strike Off] CIN = U74140GJ2014PTC080995

Company & Directors' Information:- K C ORGANISER PRIVATE LIMITED [Active] CIN = U45200GJ2010PTC062593

Company & Directors' Information:- A P A R & CO LLP [Active] CIN = AAS-8336

Company & Directors' Information:- A A M K & CO LLP [Active] CIN = AAT-0385

Company & Directors' Information:- V U D & CO LLP [Active] CIN = AAT-1391

Company & Directors' Information:- A K M W AND CO LLP [Active] CIN = AAF-4352

Company & Directors' Information:- H M V OVERSEAS INDIA LLP [Defunct] CIN = AAF-5465

Company & Directors' Information:- M B D & CO LLP [] CIN = AAG-6725

Company & Directors' Information:- S R J N & CO LLP [] CIN = AAH-0969

Company & Directors' Information:- A T M S & CO LLP [] CIN = AAH-2210

Company & Directors' Information:- J J J AND COMPANY LLP [] CIN = AAH-6513

Company & Directors' Information:- B G K & CO LLP [] CIN = AAI-2849

Company & Directors' Information:- M N K D & CO LLP [] CIN = AAI-9526

Company & Directors' Information:- Z N OVERSEAS LLP [] CIN = AAJ-3867

Company & Directors' Information:- D S R V AND CO LLP [] CIN = AAJ-5358

Company & Directors' Information:- U V OVERSEAS LLP [] CIN = AAJ-5976

Company & Directors' Information:- K D M AND CO LLP [] CIN = AAJ-9144

Company & Directors' Information:- S P K G & CO LLP [] CIN = AAK-1705

Company & Directors' Information:- V D S R & CO LLP [] CIN = AAK-2237

Company & Directors' Information:- M A S P N & CO LLP [] CIN = AAK-4575

Company & Directors' Information:- N P K & COMPANY LLP [] CIN = AAL-7453

Company & Directors' Information:- S S G G & CO LLP [Defunct] CIN = AAN-1510

Company & Directors' Information:- J B S K & CO LLP [Active] CIN = AAN-2033

Company & Directors' Information:- B M M A & CO LLP [Active] CIN = AAN-1144

Company & Directors' Information:- J N V AND CO LLP [Active] CIN = AAN-2581

Company & Directors' Information:- S K Y A & CO LLP [Defunct] CIN = AAN-4183

Company & Directors' Information:- D R P B AND CO LLP [Active] CIN = AAN-7871

Company & Directors' Information:- PALVIT DEVELOPERS LLP [Active] CIN = AAO-3310

Company & Directors' Information:- N G V R AND COMPANY LLP [Active] CIN = AAO-4093

Company & Directors' Information:- B D S D & CO LLP [Active] CIN = AAO-4834

Company & Directors' Information:- J A S N & CO LLP [Active] CIN = AAP-0336

Company & Directors' Information:- R S A G AND CO LLP [Active] CIN = AAP-1444

Company & Directors' Information:- D G K & CO LLP [Active] CIN = AAR-1732

Company & Directors' Information:- M J P T & CO LLP [Active] CIN = AAS-1307

Company & Directors' Information:- A B N P & CO. LLP [Active] CIN = AAS-5187

Company & Directors' Information:- P R P A & COMPANY LLP [Active] CIN = AAT-7868

Company & Directors' Information:- S M B C & COMPANY LLP [Active] CIN = AAU-0557

Company & Directors' Information:- L M R K & CO LLP [Active] CIN = AAV-4030

Company & Directors' Information:- S L B M AND CO LLP [Active] CIN = AAV-4289

Company & Directors' Information:- J S S T & CO LLP [Active] CIN = AAW-6401

Company & Directors' Information:- S J V & CO LLP [Active] CIN = AAW-6847

Company & Directors' Information:- V K & COMPANY LLP [Active] CIN = AAW-7564

Company & Directors' Information:- D A M & CO LLP [Active] CIN = AAW-8134

Company & Directors' Information:- V O K AND COMPANY LLP [Active] CIN = AAW-8164

Company & Directors' Information:- N A D & CO LLP [Active] CIN = AAW-9504

Company & Directors' Information:- A B R & CO LLP [Active] CIN = AAX-0331

Company & Directors' Information:- V H P A & CO LLP [Active] CIN = AAY-1712

Company & Directors' Information:- S N P R K AND CO LLP [Active] CIN = AAY-1761

Company & Directors' Information:- N C A P & COMPANY LLP [Active] CIN = AAY-2026

Company & Directors' Information:- N A M S & CO LLP [Active] CIN = AAZ-1136

Company & Directors' Information:- G G S B & CO LLP [Active] CIN = AAN-7106

Company & Directors' Information:- B M P S & CO LLP [Active] CIN = AAW-9364

Company & Directors' Information:- S K D M & CO LLP [Active] CIN = AAO-2808

Company & Directors' Information:- A S C B S R AND COMPANY LLP [Active] CIN = ABA-5394

Company & Directors' Information:- J K J & CO LLP [] CIN = AAE-5439

Company & Directors' Information:- S G C O & CO LLP [] CIN = AAI-0379

Company & Directors' Information:- G P S & CO LLP [] CIN = AAI-0872

Company & Directors' Information:- K K A B & CO LLP [] CIN = AAJ-3296

Company & Directors' Information:- C S D AND CO LLP [] CIN = AAJ-4629

Company & Directors' Information:- M P G V & CO LLP [] CIN = AAJ-5351

Company & Directors' Information:- A T S G & CO LLP [] CIN = AAK-3751

Company & Directors' Information:- G G S H & CO. LLP [] CIN = AAL-8083

Company & Directors' Information:- J N S V & CO LLP [Active] CIN = AAM-6900

Company & Directors' Information:- A T J & CO LLP [Active] CIN = AAN-1764

Company & Directors' Information:- S P K T & CO LLP [Active] CIN = AAN-7572

Company & Directors' Information:- S H A & CO LLP [Active] CIN = AAO-4028

Company & Directors' Information:- R S S P K & CO LLP [Under Process Of Strike Off] CIN = AAR-2109

Company & Directors' Information:- A A S S & COMPANY LLP [Active] CIN = AAT-4426

Company & Directors' Information:- R R S J & CO LLP [Active] CIN = AAV-8062

Company & Directors' Information:- J K A J & CO LLP [Active] CIN = AAW-3946

Company & Directors' Information:- S S A A N & CO LLP [Active] CIN = AAX-4893

Company & Directors' Information:- A R B R & CO LLP [Active] CIN = AAX-6334

Company & Directors' Information:- S K B & COMPANY LLP [Active] CIN = AAT-5051

Company & Directors' Information:- P R S S & CO LLP [Active] CIN = AAW-2115

Company & Directors' Information:- V M V H AND CO LLP [Active] CIN = AAS-2193

Company & Directors' Information:- G A S A & CO LLP [Active] CIN = AAU-4365

Company & Directors' Information:- S P A S AND CO LLP [Active] CIN = AAS-9005

Company & Directors' Information:- S K R AND COMPANY LLP [Active] CIN = AAB-9330

Company & Directors' Information:- C S AND CO LLP [] CIN = AAL-5204

Company & Directors' Information:- G A R G S & CO LLP [Active] CIN = AAW-2727

Company & Directors' Information:- M M G S AND CO LLP [Active] CIN = AAW-8857

Company & Directors' Information:- A J M S & CO LLP [Active] CIN = AAS-6794

Company & Directors' Information:- S B S S & CO LLP [] CIN = AAG-2178

Company & Directors' Information:- P Y S & CO LLP [] CIN = AAG-9715

Company & Directors' Information:- A G A K & CO LLP [Active] CIN = AAN-5853

Company & Directors' Information:- P U M & CO LLP [Under Process Of Strike Off] CIN = AAP-1869

Company & Directors' Information:- P V R A & CO LLP [Active] CIN = AAP-2457

Company & Directors' Information:- K S N C & CO LLP [Active] CIN = AAQ-8095

Company & Directors' Information:- A R N P AND CO LLP [Active] CIN = AAS-7063

Company & Directors' Information:- N M G K & COMPANY LLP [Active] CIN = AAU-2181

Company & Directors' Information:- S H A P AND COMPANY LLP [Active] CIN = AAU-5309

Company & Directors' Information:- B K Y & CO LLP [Active] CIN = AAU-7172

Company & Directors' Information:- B R D P & CO LLP [Active] CIN = AAV-4924

Company & Directors' Information:- S S P M & COMPANY LLP [Active] CIN = AAW-8509

Company & Directors' Information:- B R M R & CO LLP [Active] CIN = AAY-2407

Company & Directors' Information:- P B R C & CO LLP [Active] CIN = AAW-9421

Company & Directors' Information:- S R B A & CO LLP [] CIN = AAF-9001

Company & Directors' Information:- C S M & CO LLP [Active] CIN = AAW-1462

Company & Directors' Information:- A C C A & CO LLP [] CIN = AAF-2112

Company & Directors' Information:- K A M AND CO LLP [Active] CIN = AAU-7380

Company & Directors' Information:- S C M K & CO LLP [Active] CIN = AAT-2422

    Misc. Appeal No. 105 of 2018

    Decided On, 16 July 2018

    At, Debts Recovery Appellate Tribunal at Delhi

    By, THE HONOURABLE MR. JUSTICE P.K. BHASIN
    By, CHAIRPERSON

    For the Appellant: Sanjeev Bhandari, Jaya Goyal, Advocates. For the Respondents: R1, R9, Karan Khanna, Ashmita Kumar, R16, S. Choudhary, Advocates.



Judgment Text

P.K. Bhasin, Chairperson, J.

1. Today, learned Counsel for the appellant seeks permission to awithdraw this appeal and also makes a prayer of return of the amount which it has deposited in this Tribunal in compliance of the direction given to it to show its bona fides in filing this appeal against some order passed by the DRT in Bank's O.A. in which it was not a party. He also submitted that now that he is seeking permission to withdraw this appeal, he will urge this Tribunal to look into the legality and propriety of the impugned order of the learned Presiding Officer of the DRT in permitting sale of the mortgaged asset in the midst of trial of the O.A. without even having returned any finding regarding mortgage etc. and therefore he would request this Tribunal to invoke power of superintendence which includes ‘judicial superintendence’ also over the judicial orders passed by the Tribunal below which are under the jurisdiction of this DRAT. Counsel for the Bank as well as purchaser of the property in question have no objection if this prayer being made on behalf of the appellant is accepted.

2. This appeal is accordingly dismissed as withdrawn.

The appellant be refunded the amount of Rs. 5.20 crores which it had deposited, along with interest accrued till date, if the money was kept in a fixed deposit.

3. Now that nothing survives to be examined by this Tribunal at the instance of the appellant, the question which needs to be answered is whether in fact this is a fit case for exercising power of judicial superintendence in respect of the order dated 4.1.2018 passed by the learned DRT in the Bank’s O.A. and to set it aside. Prima facie, it does appear to this Tribunal that the procedure adopted by the DRT and the power exercised by it directing sale of a mortgaged property in favour of a private individual in the midst of trial in the Bank’s O.A. despite the fact that the Bank was not agreeable for sale of the property in question for a price of Rs. 5.20 crores and which ultimately came to be permitted to be sold by the DRT even at the lesser price of Rs. 5 crores and though the private purchaser’s offer to buy it was for Rs. 5.20 crores, does require examination by this Tribunal in exercise of power under Section 17 (A) of the Recovery of Debts and Insolvency Act, 1993. Therefore, the Registry shall now prepare a separate file of ‘suo motu proceedings’ in respect of legality and propriety of the order dated 4.1.2018 of the Tribunal below. Since the Bank as well as the purchaser in whose favour the property was permitted to be sold by the DRT may be prejudicially affected by any decision if taken against the legality of the aforesaid order, they will be at liberty to defend that order as and when this suo motu matter is taken up for hearing. The file of the present appeal shall simply be n

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ow placed before the Tribunal as and when suo motu matter is taken up for hearing. List this matter for hearing on 7.8.2018. 4. Since the O.A. before the DRT is now fixed for hearing on 14.8.2018, its record shall be retained here only till the next date of hearing. Appeal disposed of.
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