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



M/s. L&T Housing Finance Limited v/s M/s. Trishul Developers & Another


Company & Directors' Information:- L & T FINANCE LIMITED [Amalgamated] CIN = U65990MH1994PLC083147

Company & Directors' Information:- S P FINANCE PRIVATE LIMITED [Active] CIN = U65990MH1979PTC021790

Company & Directors' Information:- V L S FINANCE LIMITED [Active] CIN = L65910DL1986PLC023129

Company & Directors' Information:- K V DEVELOPERS PRIVATE LIMITED [Active] CIN = U70102DL2012PTC241987

Company & Directors' Information:- L R N FINANCE LIMITED [Active] CIN = U65921TN1992PLC089288

Company & Directors' Information:- S M FINANCE LTD [Active] CIN = L65999TG1984PLC004526

Company & Directors' Information:- J R D FINANCE LTD [Active] CIN = L65999WB1993PLC058107

Company & Directors' Information:- B R D FINANCE LIMITED [Active] CIN = U65910KL1995PLC009430

Company & Directors' Information:- T C I FINANCE LIMITED [Active] CIN = U65920MH1973PLC017042

Company & Directors' Information:- S V HOUSING PRIVATE LIMITED [Active] CIN = U70109DL2006PTC150816

Company & Directors' Information:- A. V. B. FINANCE PRIVATE LIMITED. [Active] CIN = U65993DL1992PTC049818

Company & Directors' Information:- S M L FINANCE LIMITED [Active] CIN = U65910KL1996PLC010648

Company & Directors' Information:- A TO Z DEVELOPERS LIMITED [Active] CIN = U70200UP2007PLC034064

Company & Directors' Information:- D AND S DEVELOPERS PRIVATE LIMITED [Amalgamated] CIN = U45201DL2004PTC126849

Company & Directors' Information:- S B FINANCE PVT LTD [Strike Off] CIN = U65921TG1988PTC008268

Company & Directors' Information:- V K C DEVELOPERS PRIVATE LIMITED [Active] CIN = U70100KA2007PTC042245

Company & Directors' Information:- INDIA FINANCE LTD. [Active] CIN = L65110WB1984PLC050214

Company & Directors' Information:- A L M DEVELOPERS PRIVATE LIMITED [Active] CIN = U70102UP2010PTC041214

Company & Directors' Information:- J J FINANCE CORPORATION LTD [Active] CIN = L65921WB1982PLC035092

Company & Directors' Information:- G V S FINANCE PVT LTD [Strike Off] CIN = U65921TG1988PTC008269

Company & Directors' Information:- G T P FINANCE LIMITED [Active] CIN = U65921TZ1991PLC003149

Company & Directors' Information:- J G DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200MH2006PTC158684

Company & Directors' Information:- I T DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL2006PTC144738

Company & Directors' Information:- S R K FINANCE PRIVATE LIMITED [Active] CIN = U65910UP1994PTC016038

Company & Directors' Information:- C S M DEVELOPERS PRIVATE LIMITED [Active] CIN = U04520MP2005PTC017927

Company & Directors' Information:- R K R DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45201KA2008PTC046539

Company & Directors' Information:- D N J DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109AP2011PTC090762

Company & Directors' Information:- D S R DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201HR2005PTC035816

Company & Directors' Information:- R N FINANCE LIMITED [Active] CIN = U74899DL1988PLC034289

Company & Directors' Information:- J R D FINANCE LTD [Active] CIN = U65999WB1993PLC058107

Company & Directors' Information:- H D V S DEVELOPERS LIMITED [Active] CIN = U45201WB2004PLC198667

Company & Directors' Information:- C K G FINANCE PRIVATE LIMITED [Active] CIN = U65910KL1996PTC010147

Company & Directors' Information:- L N FINANCE LTD [Active] CIN = U65923WB1991PLC052876

Company & Directors' Information:- R K FINANCE LTD [Active] CIN = L65921WB1983PLC035896

Company & Directors' Information:- V G P HOUSING PRIVATE LIMITED [Active] CIN = U65922TN1972PTC006240

Company & Directors' Information:- V P C L FINANCE LIMITED [Active] CIN = U65920TG1996PLC023172

Company & Directors' Information:- K K B DEVELOPERS PRIVATE LIMITED [Active] CIN = U70100MH2003PTC140111

Company & Directors' Information:- M C DEVELOPERS CO PRIVATE LIMITED [Active] CIN = U45201WB2005PTC103500

Company & Directors' Information:- P A R Y DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL2004PTC127656

Company & Directors' Information:- N R S DEVELOPERS PRIVATE LIMITED [Active] CIN = U70102DL2007PTC161223

Company & Directors' Information:- J S M FINANCE PVT LTD [Active] CIN = U74140MP1995PTC009542

Company & Directors' Information:- B K DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45201KA2006PTC038528

Company & Directors' Information:- C L DEVELOPERS PVT LTD [Active] CIN = U45400WB1990PTC050024

Company & Directors' Information:- I & D FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1991PTC021369

Company & Directors' Information:- S M B HOUSING FINANCE LIMITED [Active] CIN = U65922DL2014PLC267087

Company & Directors' Information:- D A P DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70101WB1997PTC086055

Company & Directors' Information:- K K S DEVELOPERS INDIA PRIVATE LIMITED [Active] CIN = U45202UR2005PTC031113

Company & Directors' Information:- L N FINANCE PVT LTD [Active] CIN = U65929AS1992PTC003766

Company & Directors' Information:- N B A FINANCE LIMITED [Strike Off] CIN = U74899DL1993PLC052393

Company & Directors' Information:- B R HOUSING PVT LTD [Active] CIN = U45203WB1995PTC073083

Company & Directors' Information:- T P D FINANCE LIMITED [Strike Off] CIN = U67120RJ1994PLC008051

Company & Directors' Information:- D B DEVELOPERS LIMITED [Active] CIN = U45202PN1999PLC013957

Company & Directors' Information:- R G L FINANCE COMPANY PRIVATE LIMITED [Active] CIN = U74899DL1983PTC015809

Company & Directors' Information:- A. M. DEVELOPERS (INDIA) PRIVATE LIMITED [Active] CIN = U70102KA2007PTC044101

Company & Directors' Information:- B R DEVELOPERS PRIVATE LIMITED. [Active] CIN = U45201AS2008PTC008562

Company & Directors' Information:- P P DEVELOPERS PVT LTD [Active] CIN = U70101WB1989PTC045879

Company & Directors' Information:- S K B FINANCE LIMITED [Amalgamated] CIN = U65999WB1996PLC082317

Company & Directors' Information:- J V FINANCE PRIVATE LIMITED [Strike Off] CIN = U74899DL1985PTC067873

Company & Directors' Information:- L C J FINANCE PVT. LTD. [Active] CIN = U65921WB1995PTC068809

Company & Directors' Information:- H L T FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921DL1996PTC078128

Company & Directors' Information:- R D DEVELOPERS PVT LTD [Active] CIN = U45201WB1987PTC042181

Company & Directors' Information:- K R J DEVELOPERS PRIVATE LIMITED [Active] CIN = U67100TN2011PTC082403

Company & Directors' Information:- V M V DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109DL2006PTC149676

Company & Directors' Information:- C S R DEVELOPERS PRIVATE LIMITED [Active] CIN = U70101WB2005PTC102513

Company & Directors' Information:- S J DEVELOPERS AND HOUSING PRIVATE LIMITED [Active] CIN = U70101OR2003PTC007138

Company & Directors' Information:- G K S HOUSING LIMITED [Amalgamated] CIN = U45201TN1996PLC036147

Company & Directors' Information:- G R DEVELOPERS PVT LTD [Strike Off] CIN = U70109WB1995PTC074531

Company & Directors' Information:- M L DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200MH2004PTC149835

Company & Directors' Information:- K S DEVELOPERS PRIVATE LIMITED [Converted to LLP] CIN = U45201DL2005PTC139269

Company & Directors' Information:- B F D DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45202KA2011PTC056938

Company & Directors' Information:- R N C P FINANCE LTD. [Dissolved] CIN = U67120WB1995PLC072339

Company & Directors' Information:- T T FINANCE LIMITED [Amalgamated] CIN = U67120DL1986PLC023168

Company & Directors' Information:- P A V DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400UP2007PTC033209

Company & Directors' Information:- M M V R FINANCE LIMITED [Active] CIN = U65921TZ1997PLC007705

Company & Directors' Information:- D B FINANCE PRIVATE LIMITED [Active] CIN = U65191TN1989PTC016705

Company & Directors' Information:- C H P FINANCE PVT LTD [Active] CIN = U65921PB1992PTC012788

Company & Directors' Information:- R. J. HOUSING PRIVATE LIMITED [Active] CIN = U45400WB2007PTC114792

Company & Directors' Information:- TRISHUL HOUSING PRIVATE LIMITED [Strike Off] CIN = U74899DL1995PTC074567

Company & Directors' Information:- E D DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400MH2011PTC216103

Company & Directors' Information:- S L B P FINANCE PRIVATE LIMITED [Active] CIN = U74899DL1990PTC041694

Company & Directors' Information:- R S FINANCE PVT LTD [Active] CIN = U65191WB1988PTC044144

Company & Directors' Information:- N. C. DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109PB2008PTC031764

Company & Directors' Information:- S K J DEVELOPERS PRIVATE LIMITED [Active] CIN = U70101WB1997PTC085004

Company & Directors' Information:- I C FINANCE PRIVATE LIMITED [Active] CIN = U65921UP1989PTC011236

Company & Directors' Information:- D V R DEVELOPERS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC074520

Company & Directors' Information:- M D DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL2002PTC117983

Company & Directors' Information:- TRISHUL INDIA PRIVATE LIMITED [Active] CIN = U22110AS1989PTC003309

Company & Directors' Information:- P R DEVELOPERS PRIVATE LIMITED [Active] CIN = U70200UP2006PTC032443

Company & Directors' Information:- A V DEVELOPERS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC062929

Company & Directors' Information:- C C V DEVELOPERS PVT LTD [Active] CIN = U45400WB2006PTC107143

Company & Directors' Information:- M N DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400DL2007PTC164779

Company & Directors' Information:- V K FINANCE PVT LTD [Strike Off] CIN = U67120WB1991PTC052140

Company & Directors' Information:- INDIA HOUSING LIMITED [Active] CIN = U45200PN2008PLC131883

Company & Directors' Information:- V S DEVELOPERS PRIVATE LIMITED [Active] CIN = U74899DL2000PTC105589

Company & Directors' Information:- V M DEVELOPERS PRIVATE LIMITED [Converted to LLP] CIN = U45201DL2004PTC130706

Company & Directors' Information:- V. A. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200DL2007PTC159386

Company & Directors' Information:- N K C M DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201TZ2008PTC014266

Company & Directors' Information:- C AND N FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921DL1998PTC094290

Company & Directors' Information:- R. B. M. DEVELOPERS PRIVATE LIMITED [Active] CIN = U70102DL2008PTC183937

Company & Directors' Information:- C D R FINANCE LIMITED [Strike Off] CIN = U65910TG1995PLC022237

Company & Directors' Information:- J R FINANCE LIMITED [Active] CIN = U65921PB1996PLC017699

Company & Directors' Information:- I C S FINANCE LIMITED [Strike Off] CIN = U65921TZ1987PLC001991

Company & Directors' Information:- A K DEVELOPERS PVT LTD [Active] CIN = U70101WB1996PTC081098

Company & Directors' Information:- R D HOUSING PVT LTD [Active] CIN = U70101WB1996PTC081099

Company & Directors' Information:- S G P DEVELOPERS PRIVATE LIMITED [Active] CIN = U70181DL2005PTC132775

Company & Directors' Information:- D D S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65910DL1996PTC076165

Company & Directors' Information:- K V L FINANCE LIMITED [Strike Off] CIN = U65191TN1989PLC016715

Company & Directors' Information:- D A S FINANCE PVT LIMITED [Strike Off] CIN = U65921PB1993PTC012888

Company & Directors' Information:- G C HOUSING PRIVATE LIMITED [Active] CIN = U45201DL2003PTC122011

Company & Directors' Information:- J P L DEVELOPERS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC063657

Company & Directors' Information:- U B FINANCE PRIVATE LIMITED [Strike Off] CIN = U74899DL1992PTC051300

Company & Directors' Information:- V L G FINANCE PRIVATE LIMITED [Strike Off] CIN = U65910AP1997PTC027952

Company & Directors' Information:- J B T INDIA DEVELOPERS PVT LTD [Active] CIN = U70101TG2006PTC101984

Company & Directors' Information:- E M S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921TZ1986PTC001789

Company & Directors' Information:- B. D. S. K. DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109DL2006PTC154062

Company & Directors' Information:- T D M FINANCE COMPANY PRIVATE LIMITED [Active] CIN = U65923KL1997PTC011601

Company & Directors' Information:- S. F. FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65921PB1996PTC018702

Company & Directors' Information:- D S L FINANCE PRIVATE LIMITED [Active] CIN = U65921TG1996PTC023898

Company & Directors' Information:- R D P FINANCE PRIVATE LIMITED [Active] CIN = U65929DL1997PTC089092

Company & Directors' Information:- S R K C FINANCE LIMITED [Amalgamated] CIN = U65999TZ1989PLC002445

Company & Directors' Information:- R K N FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1997PTC038377

Company & Directors' Information:- S M K DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL2005PTC139327

Company & Directors' Information:- H A FINANCE PRIVATE LIMITED [Strike Off] CIN = U65993DL1987PTC027064

Company & Directors' Information:- H & Z DEVELOPERS PRIVATE LIMITED [Active] CIN = U70101AS2004PTC007381

Company & Directors' Information:- V V A FINANCE LTD [Active] CIN = U65993WB1984PLC037171

Company & Directors' Information:- B M DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400WB2007PTC114990

Company & Directors' Information:- Y B FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921CH1996PTC017745

Company & Directors' Information:- H A DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL1997PTC090629

Company & Directors' Information:- N P C DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45201KA1995PTC018516

Company & Directors' Information:- D G L FINANCE LTD [Strike Off] CIN = U67120TG1993PLC015604

Company & Directors' Information:- P M DEVELOPERS PRIVATE LIMITED [Active] CIN = U70102WB2006PTC107087

Company & Directors' Information:- T G DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200MH1996PTC099741

Company & Directors' Information:- R J DEVELOPERS PRIVATE LIMITED [Active] CIN = U70200DL2011PTC215579

Company & Directors' Information:- S T DEVELOPERS COMPANY PVT LTD [Active] CIN = U70101WB1992PTC057111

Company & Directors' Information:- S P A DEVELOPERS PRIVATE LIMITED [Active] CIN = U70200WB2010PTC147306

Company & Directors' Information:- A. S. M. Z DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400WB2010PTC144894

Company & Directors' Information:- C B DEVELOPERS PRIVATE LIMITED [Active] CIN = U70101WB1998PTC087986

Company & Directors' Information:- J. D. HOUSING PRIVATE LIMITED [Active] CIN = U45309PN2016PTC166622

Company & Directors' Information:- A G S DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL2004PTC129997

Company & Directors' Information:- T & A DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109DL2013PTC259387

Company & Directors' Information:- TRISHUL COMPANY PRIVATE LIMITED [Active] CIN = U15491WB1976PTC030824

Company & Directors' Information:- S. K. & S. K. DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200MH2007PTC167510

Company & Directors' Information:- A N HOUSING PRIVATE LIMITED [Strike Off] CIN = U45400UP2008PTC035479

Company & Directors' Information:- M S R FINANCE PVT LTD [Strike Off] CIN = U65191TN1989PTC016789

Company & Directors' Information:- 3-D DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400PN2011PTC140578

Company & Directors' Information:- P G DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200MH1996PTC099738

Company & Directors' Information:- N G DEVELOPERS PRIVATE LIMITED [Active] CIN = U70100MH1996PTC099694

Company & Directors' Information:- B P K DEVELOPERS PRIVATE LIMITED [Active] CIN = U70103TN2007PTC062404

Company & Directors' Information:- R B S DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200TN2011PTC082253

Company & Directors' Information:- S S P FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1987PTC014526

Company & Directors' Information:- T. T. M. S. DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400WB2018PTC224382

Company & Directors' Information:- V P DEVELOPERS PRIVATE LIMITED [Active] CIN = U45203MP2007PTC019879

Company & Directors' Information:- J. S. T. DEVELOPERS PRIVATE LIMITED [Active] CIN = U70100HR2015PTC054780

Company & Directors' Information:- N K F DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70102KA2012PTC064651

Company & Directors' Information:- I. P. DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400DL2009PTC194890

Company & Directors' Information:- S K S & DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200AN2011PTC000153

Company & Directors' Information:- K G DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201WB1997PTC084096

Company & Directors' Information:- C R N FINANCE PRIVATE LIMITED [Strike Off] CIN = U74899DL1994PTC062802

Company & Directors' Information:- B AND S HOUSING FINANCE PRIVATE LIMITED [Strike Off] CIN = U65929AS1996PTC004785

Company & Directors' Information:- R P DEVELOPERS PRIVATE LIMITED [Active] CIN = U70101WB1997PTC084769

Company & Directors' Information:- S F Q DEVELOPERS PRIVATE LIMITED [Active] CIN = U70102UP2015PTC069498

Company & Directors' Information:- I FINANCE COMPANY LIMITED [Active] CIN = U67110DL2011PLC212268

Company & Directors' Information:- A P M DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109WB1998PTC086581

Company & Directors' Information:- D Y DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL1996PTC084057

Company & Directors' Information:- S. R. K. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45201DL1997PTC088685

Company & Directors' Information:- A J S DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL2004PTC129171

Company & Directors' Information:- D L HOUSING PRIVATE LIMITED [Active] CIN = U45400WB2009PTC135703

Company & Directors' Information:- G M K HOUSING PRIVATE LIMITED [Active] CIN = U74899DL1995PTC069486

Company & Directors' Information:- S A V DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200PN2009PTC133464

Company & Directors' Information:- J V D DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200MH2004PTC145503

Company & Directors' Information:- H AND Z FINANCE PRIVATE LIMITED [Active] CIN = U67190MH1995PTC093153

Company & Directors' Information:- R G HOUSING PRIVATE LIMITED [Active] CIN = U70102UP2012PTC052735

Company & Directors' Information:- N. K. C. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200WB2011PTC168155

Company & Directors' Information:- R. T. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45400WB2008PTC127672

Company & Directors' Information:- S M DEVELOPERS PVT. LTD. [Active] CIN = U70101WB1989PTC046737

Company & Directors' Information:- M H DEVELOPERS PVT LTD [Active] CIN = U45201WB2006PTC109466

Company & Directors' Information:- P S DEVELOPERS PVT LTD [Strike Off] CIN = U45202WB1990PTC050298

Company & Directors' Information:- Y AND K FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U74899DL1985PTC019837

Company & Directors' Information:- S F G DEVELOPERS PRIVATE LIMITED [Active] CIN = U70101DL1997PTC089277

Company & Directors' Information:- S L P FINANCE PRIVATE LTD. [Strike Off] CIN = U65923DL1985PTC021970

Company & Directors' Information:- V M FINANCE LIMITED [Strike Off] CIN = U65910PB1996PLC018339

Company & Directors' Information:- D S K FINANCE LIMITED [Strike Off] CIN = U65910UP1988PLC010317

Company & Directors' Information:- G B V FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65110UP1988PTC010219

Company & Directors' Information:- B B HOUSING PRIVATE LIMITED [Strike Off] CIN = U70109WB1997PTC084775

Company & Directors' Information:- B H FINANCE PRIVATE LIMITED [Strike Off] CIN = U65922KA1995PTC018390

Company & Directors' Information:- A M HOUSING FINANCE LIMITED [Strike Off] CIN = U65922PB1996PLC017644

Company & Directors' Information:- M .R .S . FINANCE LIMITED [Strike Off] CIN = U65929DL1995PLC067184

Company & Directors' Information:- H D FINANCE LTD [Strike Off] CIN = U67120DL1986PLC023675

Company & Directors' Information:- P R K FINANCE P LTD [Strike Off] CIN = U65191TN1995PTC033478

Company & Directors' Information:- B S R HOUSING PRIVATE LIMITED [Strike Off] CIN = U70102AP2005PTC048146

Company & Directors' Information:- D D DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109BR2007PTC024290

Company & Directors' Information:- T C G DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200MH2005PTC153314

Company & Directors' Information:- H R S DEVELOPERS LIMITED [Strike Off] CIN = U45209PB2010PLC033782

Company & Directors' Information:- U R K DEVELOPERS LIMITED [Active] CIN = U70101RJ1994PLC008179

Company & Directors' Information:- A S DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45201MH2007PTC175008

Company & Directors' Information:- J. D. J. DEVELOPERS PRIVATE LIMITED [Under Process of Striking Off] CIN = U45400MH2012PTC237105

Company & Directors' Information:- A. K. A. DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400UP2007PTC033371

Company & Directors' Information:- K K R DEVELOPERS INDIA PRIVATE LIMITED [Strike Off] CIN = U45203TG2011PTC077776

Company & Directors' Information:- J A DEVELOPERS PRIVATE LIMITED [Active] CIN = U45202WB1999PTC090575

Company & Directors' Information:- M AND R DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45400JK2012PTC003492

Company & Directors' Information:- J S O DEVELOPERS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U45400DL2008PTC185170

Company & Directors' Information:- D G M DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200HR2008PTC037623

Company & Directors' Information:- R R DEVELOPERS PVT LTD [Active] CIN = U45203TG1989PTC010727

Company & Directors' Information:- N S M DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200DL2008PTC175372

Company & Directors' Information:- T AND C FINANCE LIMITED [Strike Off] CIN = U67120RJ1996PLC012576

Company & Directors' Information:- M. P. HOUSING PRIVATE LIMITED [Strike Off] CIN = U45200UP2007PTC033329

Company & Directors' Information:- B S DEVELOPERS PRIVATE LIMITED [Converted to LLP] CIN = U45102MH2006PTC158721

Company & Directors' Information:- W S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65192UP1996PTC020243

Company & Directors' Information:- S K J HOUSING PRIVATE LIMITED [Active] CIN = U63023WB1999PTC089993

Company & Directors' Information:- J. M. DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200DL2007PTC159432

Company & Directors' Information:- S A C FINANCE COMPANY PVT LTD [Active] CIN = U65999WB1985PTC039002

Company & Directors' Information:- M B DEVELOPERS PVT LTD [Strike Off] CIN = U70101WB1990PTC049368

Company & Directors' Information:- S. M. DEVELOPERS PVT. LTD. [Strike Off] CIN = U70102WB1995PTC072333

Company & Directors' Information:- N. A. K. DEVELOPERS PVT. LTD. [Strike Off] CIN = U45201WB1997PTC085737

Company & Directors' Information:- N A E DEVELOPERS PVT LTD [Strike Off] CIN = U45201WB1997PTC085738

Company & Directors' Information:- S G DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400DL2008PTC178891

Company & Directors' Information:- S V R HOUSING INDIA PRIVATE LIMITED [Strike Off] CIN = U45200AP2009PTC064511

Company & Directors' Information:- R K HOUSING PRIVATE LIMITED [Active] CIN = U74899DL1988PTC032252

Company & Directors' Information:- G AND A DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200MH2003PTC141220

Company & Directors' Information:- K K DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400UP2007PTC034070

Company & Directors' Information:- J HOUSING PRIVATE LTD [Active] CIN = U74899DL1980PTC010338

Company & Directors' Information:- K P A HOUSING PRIVATE LIMITED [Strike Off] CIN = U45201TN2005PTC055354

Company & Directors' Information:- M A DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201MH2003PTC143483

Company & Directors' Information:- M N G DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200MH1999PTC119682

Company & Directors' Information:- M M K DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200MH2005PTC155110

Company & Directors' Information:- B C S DEVELOPERS PRIVATE LIMITED [Active] CIN = U70100MH2005PTC154047

Company & Directors' Information:- A R H DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45400UP2010PTC042708

Company & Directors' Information:- G M K DEVELOPERS PRIVATE LIMITED [Active] CIN = U70102TG2006PTC050871

Company & Directors' Information:- V. D. P. HOUSING PRIVATE LIMITED [Active] CIN = U70102UP2012PTC054142

Company & Directors' Information:- P S DEVELOPERS (INDIA) PRIVATE LIMITED [Active] CIN = U45200WB2007PTC113366

Company & Directors' Information:- P A DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400WB2008PTC124648

Company & Directors' Information:- M. J. DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400WB2011PTC166506

Company & Directors' Information:- G D DEVELOPERS PVT LTD [Active] CIN = U70101WB1988PTC043611

Company & Directors' Information:- M R DEVELOPERS PVT LTD [Active] CIN = U70101WB1995PTC072428

Company & Directors' Information:- G M DEVELOPERS PRIVATE LIMITED [Under Process of Striking Off] CIN = U45203AR2012PTC008356

Company & Directors' Information:- B & Z DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70101AS2004PTC007611

Company & Directors' Information:- A C T DEVELOPERS PVT LTD [Active] CIN = U99999DL1980PTC011066

Company & Directors' Information:- G S K DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45201DL2006PTC146440

Company & Directors' Information:- D D V DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70101DL2005PTC136378

Company & Directors' Information:- G R E HOUSING PRIVATE LIMITED [Active] CIN = U70102AP2008PTC061004

Company & Directors' Information:- T M J DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70101KA2011PTC058190

Company & Directors' Information:- C C FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1997PTC037805

Company & Directors' Information:- S R B FINANCE LIMITED [Strike Off] CIN = U65910UP1988PLC010045

Company & Directors' Information:- P V FINANCE PRIVATE LIMITED [Strike Off] CIN = U65993DL1987PTC027270

Company & Directors' Information:- R V S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65990KA1995PTC018436

Company & Directors' Information:- A B P DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70109DL1991PTC046395

Company & Directors' Information:- L R DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45201WB1997PTC084844

Company & Directors' Information:- P AND B FINANCE PVT LTD [Strike Off] CIN = U99999MH1986PTC038841

Company & Directors' Information:- G M HOUSING PRIVATE LIMITED [Strike Off] CIN = U99999MH1994PTC076203

Company & Directors' Information:- B B P FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65921PB1996PTC018183

Company & Directors' Information:- P N DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200MH1998PTC115864

Company & Directors' Information:- B. C. B. DEVELOPERS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U45400WB2008PTC125472

Company & Directors' Information:- A E FINANCE PRIVATE LIMITED [Active] CIN = U65999TZ1990PTC002905

Company & Directors' Information:- J L DEVELOPERS PVT LTD [Strike Off] CIN = U45201WB1980PTC032702

Company & Directors' Information:- M. H. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200DL2006PTC154692

Company & Directors' Information:- L R FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65910UP1988PTC009758

Company & Directors' Information:- S B M FINANCE LIMITED [Strike Off] CIN = U65921PB1994PLC014374

Company & Directors' Information:- T A S FINANCE PVT LTD [Strike Off] CIN = U65191TN1990PTC018654

Company & Directors' Information:- N B DEVELOPERS PVT LTD [Active] CIN = U70200WB1989PTC047650

Company & Directors' Information:- U R DEVELOPERS PVT LTD [Strike Off] CIN = U70100PB2006PTC029931

Company & Directors' Information:- V. S. S. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200PN2009PTC133322

Company & Directors' Information:- B A DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70102WB2011PTC171325

Company & Directors' Information:- L N DEVELOPERS PRIVATE LIMITED [Active] CIN = U74899DL1988PTC030366

Company & Directors' Information:- D AND O FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U74899DL1993PTC054788

Company & Directors' Information:- V Y P DEVELOPERS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC066375

Company & Directors' Information:- K K HOUSING PRIVATE LIMITED [Strike Off] CIN = U45200DL2012PTC232532

Company & Directors' Information:- H R P FINANCE PRIVATE LIMITED [Strike Off] CIN = U65921PB1995PTC015715

Company & Directors' Information:- P T R FINANCE PRIVATE LIMITED [Strike Off] CIN = U65191TN1989PTC016795

Company & Directors' Information:- R S DEVELOPERS PVT LTD [Active] CIN = U70101CH1990PTC010274

Company & Directors' Information:- B & S FINANCE PVT LTD [Strike Off] CIN = U65191TN1988PTC015491

Company & Directors' Information:- R V DEVELOPERS PVT. LTD. [Strike Off] CIN = U70109DL1987PTC027442

Company & Directors' Information:- V R HOUSING PRIVATE LIMITED [Strike Off] CIN = U45201AP1998PTC030550

Company & Directors' Information:- R S F DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70102KL2007PTC021500

Company & Directors' Information:- D G S DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70102PB2006PTC030744

Company & Directors' Information:- A. S. HOUSING PRIVATE LIMITED [Active] CIN = U45209PB2012PTC036226

Company & Directors' Information:- H S B FINANCE PVT LTD [Strike Off] CIN = U67120RJ1996PTC012119

Company & Directors' Information:- H V DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201RJ2013PTC042066

Company & Directors' Information:- R. B. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45203TN2011PTC080082

Company & Directors' Information:- B Y DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200PN2010PTC135293

Company & Directors' Information:- S. N. HOUSING PRIVATE LIMITED [Active] CIN = U45400MH2010PTC202407

Company & Directors' Information:- D Z DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45400MH2013PTC247325

Company & Directors' Information:- I N R DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400MH2014PTC254493

Company & Directors' Information:- P & M HOUSING PRIVATE LIMITED [Active] CIN = U70102MH2012PTC229509

Company & Directors' Information:- D. H. HOUSING PRIVATE LIMITED [Active] CIN = U70102MH2012PTC237322

Company & Directors' Information:- N K HOUSING PRIVATE LIMITED [Strike Off] CIN = U45200MH2003PTC139304

Company & Directors' Information:- S J DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70100MH2005PTC150824

Company & Directors' Information:- K R M HOUSING AND DEVELOPERS PRIVATE LIMITED [Active] CIN = U45400TG2011PTC072995

Company & Directors' Information:- C S R HOUSING PRIVATE LIMITED [Active] CIN = U45400TG2012PTC078681

Company & Directors' Information:- V A R DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200TN2007PTC063043

Company & Directors' Information:- V M R DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70102TG2008PTC060996

Company & Directors' Information:- K-HOUSING PRIVATE LIMITED [Strike Off] CIN = U45200TN2009PTC070655

Company & Directors' Information:- L R HOUSING PRIVATE LIMITED [Active] CIN = U70100TG2013PTC089981

Company & Directors' Information:- N R F DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70102UP2015PTC069317

Company & Directors' Information:- TRISHUL DEVELOPERS PVT LTD. [Strike Off] CIN = U74210WB1988PTC045763

Company & Directors' Information:- I A M DEVELOPERS PVT LTD [Strike Off] CIN = U70100CH2006PTC029844

Company & Directors' Information:- Y D DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45209DL2006PTC156682

Company & Directors' Information:- K N S HOUSING PRIVATE LIMITED [Active] CIN = U45400DL2007PTC167504

Company & Directors' Information:- R N D DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45400DL2007PTC168299

Company & Directors' Information:- R G DEVELOPERS PRIVATE LIMITED [Active] CIN = U74899DL1988PTC031339

Company & Directors' Information:- R C HOUSING PRIVATE LIMITED [Active] CIN = U74899DL1988PTC032258

Company & Directors' Information:- G G DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U74899DL1994PTC056934

Company & Directors' Information:- Y S DEVELOPERS PRIVATE LIMITED [Active] CIN = U74999DL2004PTC127787

Company & Directors' Information:- C H S DEVELOPERS PRIVATE LIMITED [Converted to LLP and Dissolved] CIN = U74999DL2004PTC125035

Company & Directors' Information:- S E DEVELOPERS PRIVATE LIMITED [Active] CIN = U45201DL2004PTC123873

Company & Directors' Information:- V K G DEVELOPERS PRIVATE LIMITED [Under Process of Striking Off] CIN = U70109DL2013PTC247809

Company & Directors' Information:- W B HOUSING COMPANY PRIVATE LIMITED [Strike Off] CIN = U70109DL2013PTC250413

Company & Directors' Information:- B L F DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70200DL2009PTC189743

Company & Directors' Information:- S V J DEVELOPERS PRIVATE LIMITED [Active] CIN = U70200DL2012PTC232317

Company & Directors' Information:- H D DEVELOPERS PRIVATE LIMITED [Active] CIN = U70200DL2011PTC226043

Company & Directors' Information:- A P R DEVELOPERS PRIVATE LIMITED [Active] CIN = U74899DL1996PTC079445

Company & Directors' Information:- N A DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109DL2006PTC152389

Company & Directors' Information:- D J M DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70109DL2012PTC235950

Company & Directors' Information:- U P DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200DL2010PTC209825

Company & Directors' Information:- M A M DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200DL2012PTC232631

Company & Directors' Information:- B K M DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200DL2012PTC245107

Company & Directors' Information:- J J R M DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70100DL2009PTC192808

Company & Directors' Information:- J D S DEVELOPERS PRIVATE LIMITED [Active] CIN = U70100DL2010PTC205989

Company & Directors' Information:- J V DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70100DL2012PTC239930

Company & Directors' Information:- B G HOUSING PRIVATE LIMITED [Active] CIN = U70101DL2004PTC124095

Company & Directors' Information:- P G R DEVELOPERS PRIVATE LIMITED [Active] CIN = U70101DL2005PTC132146

Company & Directors' Information:- N R DEVELOPERS PRIVATE LIMITED [Active] CIN = U45200HR2013PTC049319

Company & Directors' Information:- R R S DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70100HR2011PTC044204

Company & Directors' Information:- L & D DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70200HR2012PTC045485

Company & Directors' Information:- M & U DEVELOPERS PRIVATE LIMITED [Active] CIN = U70102GJ2012PTC069113

Company & Directors' Information:- D & C DEVELOPERS PRIVATE LIMITED [Active] CIN = U70101GJ2009PTC056789

Company & Directors' Information:- J K DEVELOPERS PVT LTD [Strike Off] CIN = U45201GJ1995PTC026279

Company & Directors' Information:- C T S DEVELOPERS PRIVATE LIMITED [Amalgamated] CIN = U45201GJ2004PTC045082

Company & Directors' Information:- R N Y DEVELOPERS PRIVATE LIMITED [Active] CIN = U70200DL2020PTC369628

Company & Directors' Information:- M. J. S. FINANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U65921PB1971PTC003049

Company & Directors' Information:- Y AND H DEVELOPERS LIMITED [Under Process of Striking Off] CIN = U45201GJ1996PLC028613

Company & Directors' Information:- A R FINANCE PVT LTD [Strike Off] CIN = U65921PB1989PTC009778

Company & Directors' Information:- K G FINANCE LIMITED [Strike Off] CIN = U65910TZ1982PLC001219

Company & Directors' Information:- S AND Z FINANCE PRIVATE LIMITED [Strike Off] CIN = U65923PN1997PTC106520

Company & Directors' Information:- H S N FINANCE PVT LTD [Strike Off] CIN = U67120PB1993PTC013900

Company & Directors' Information:- G N FINANCE PVT LTD [Strike Off] CIN = U65990MH1981PTC024294

Company & Directors' Information:- K. Y. S. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45400MH2008PTC179700

Company & Directors' Information:- K. K. P. DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U45200MH1997PTC110743

Company & Directors' Information:- A K Y HOUSING PRIVATE LIMITED [Strike Off] CIN = U45400TG2007PTC056210

Company & Directors' Information:- M K Y HOUSING PRIVATE LIMITED [Strike Off] CIN = U45400TG2008PTC059752

Company & Directors' Information:- G M R HOUSING PRIVATE LIMITED [Under Process of Striking Off] CIN = U70102TG2002PTC038792

Company & Directors' Information:- L.T.D DEVELOPERS PRIVATE LIMITED [Active] CIN = U70109HR2017PTC069072

Company & Directors' Information:- A B H DEVELOPERS PRIVATE LIMITED [Strike Off] CIN = U70102KA2007PTC043132

Company & Directors' Information:- C S FINANCE PRIVATE LIMITED [Strike Off] CIN = U65910GJ1987PTC009799

Company & Directors' Information:- THE HOUSING CORPORATION LIMITED [Dissolved] CIN = U99999MH1946PLC010719

    Civil Appeal No. 3413 of 2020 (Arising out of SLP(C) No(s). 18360 of 2019)

    Decided On, 27 October 2020

    At, Supreme Court of India

    By, THE HONOURABLE MR. JUSTICE L. NAGESWARA RAO
    By, THE HONOURABLE MR. JUSTICE HEMANT GUPTA & THE HONOURABLE MR. JUSTICE AJAY RASTOGI

   



Judgment Text

Rastogi, J.1. The instant appeal is directed against the impugned judgment and order dated 27th June, 2019 passed by the Division Bench of the High Court of Karnataka at Bengaluru in Writ Petition No.22137 of 2019 wherein the High Court while reversing the finding returned by the Debt Recovery Appellate Tribunal in its order dated 16th April, 2019, upheld the order of the Debt Recovery Tribunal dated 23rd March, 2018 quashing the demand notice dated 14th June, 2017 served on the respondents (borrower) under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the “SARFAESI Act”) followed with the possession notices dated 09th November, 2017 and 10th November, 2017.2. Brief facts of the case are that the appellant is a Housing Finance Company under National Housing Bank Act, 1987 and is notified as Financial Institution by the Department of Finance (Central Government) in exercise of the powers conferred by subclause (iv) of clause (m) of subsection (1) of Section 2 of the SARFAESI Act. The appellant indeed falls within the definition of “secured creditor” under the provisions of the SARFAESI Act and is entitled to initiate measures under the provision of the SARFAESI Act for enforcement of security interest created on the secured assets by the respondents (borrower/guarantor) in favour of the appellant (secured creditor).3. Section 2(zd) of the SARFAESI Act which defines “secured creditor”, reads as follows:“2. Definitions. – (1) In this Act, unless the context otherwise requires,….(zd) “secured creditor" means(i) any bank or financial institution or any consortium or group of banks or financial institutions holding any right, title or interest upon any tangible asset or intangible asset as specified in clause (l);(ii) debenture trustee appointed by any bank or financial institution; or(iii) an asset reconstruction company whether acting as such or managing a trust set up by such asset reconstruction company for the securitisation or reconstruction, as the case may be; or(iv) debenture trustee registered with the Board appointed by any company for secured debt securities; or (v) any other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created by any borrower for due repayment of any financial assistance. ….”4. The first respondent is a partnership firm registered under the Partnership Act, 1932 and is dealing in the real estate construction business as alleged and the second respondent is the partner of first respondent firm. The first respondent and its partners in carrying out its business obligations approached the appellant for seeking financial assistance and submitted a request to the appellant vide application dated 15th May, 2015 for term loan of Rs.20 crores for completion of its project (“Mittal Palms, PhaseI”).5. The appellant taking note of the request made by the respondents sanctioned Term Loan Facility to the tune of Rs. 20 crores towards completion of the project vide sanction letter dated 07th August, 2015 on such terms and conditions as set out in the sanction letter and for availing the above credit facility, the respondents executed Facility Agreement dated 11th August, 2015 along with security documents by mortgaging the various immovable properties as a security for creating security interest in favour of the appellant. It may be relevant to note that the sanction letter dated 07th August, 2015 (P1) duly signed by the authorised signatory of “L&T Housing Finance Ltd.” for execution of the Facility Agreement and effecting all compliance as required to the satisfaction of the lender was accepted and signed by the authorised signatory on behalf of the first respondent and also by the guarantors clearly demonstrates that on the top of the letterhead towards right, the name of the company is mentioned “L&T Finance (Home Loans)” and in the bottom towards left, it was mentioned “L&T Housing Finance Ltd.” with registered office at Mumbai and this is the letterhead which has always been taken in use for correspondence at all later stages when the proceedings against the respondents herein were initiated under Sections 13(2), 13(4) and 14 of the SARFAESI Act.6. It reveals from the record that the respondents at a later stage failed to maintain financial discipline and subsequently became a defaulter and because of the alleged breach of the terms and conditions of the Facility Agreement executed between the appellant (L&T Housing Finance Ltd.) and the respondents (M/s. Trishul Developers through its Partners) towards completion of its project, the appellant served a demand notice dated 16th December, 2016 to the respondents to pay the outstanding dues within the stipulated period mentioned in the demand notice. Since the respondents failed to make their outstanding payment, under the given circumstances the appellant classified the account of the respondents as Nonperforming Assets (NPA) on 15th April, 2017 and sent a notice of demand dated 14th June, 2017 under Section 13(2) of the SARFAESI Act calling upon the respondents to pay the outstanding dues i.e. Rs.16,97,54,851/( Rupees Sixteen Crores Ninety Seven Lakhs Fifty Four Thousand Eight Hundred and Fifty One Only) as on 31st May, 2017 in terms of the notice with future interest till actual payment within sixty days from the date of the receipt of the demand notice.7. Pursuant to the service of the notice of demand dated 14th June, 2017, the respondents did not discharge their liability and sent their reply dated 08th August, 2017 to the notice with full consciousness knowing it well that the demand notice dated 14th June, 2017 has been served by the appellant (secured creditor) in reference to the Facility Agreement dated 11th August, 2015 which has been executed between the parties i.e. the appellant and the respondents herein. It may be relevant to note that the demand notice dated 14th June, 2017 under Section 13(2) of the SARFAESI Act was issued on the same letterhead of the appellant duly signed by its self same authorised signatory, who had initially signed at the time when the proposal of term loan was sanctioned vide sanction letter dated 07th August, 2015 and no objection was raised by the respondents in its reply dated 08th August, 2017 of misconception or confusion if any, in reference to the secured creditor (appellant) on whose behest the demand notice was served under Section 13(2) of the SARFAESI Act.8. Since the respondents failed to discharge their liability towards the appellant in terms of the demand notice, the appellant took further action in due compliance under Section 13(4) read with Section 14 of the SARFAESI Act and filed application before the competent authority for taking possession of the mortgaged properties and the collateral security of the respondents.9. At this stage, the respondents proceeded in filing a Securitisation Application No.76/2018 before the Debt Recovery Tribunal under Section 17 of the SARFAESI Act assailing the issuance of demand notice under Sections 13(2) and 13(4) of the Act inter alia on various grounds. The learned Debt Recovery Tribunal vide its order dated 23rd March, 2018 set aside the demand notice on the premise that it has not been validly issued in the name of the appellant (“L&T Housing Finance Ltd.”) instead the name of the company has been mentioned as “L&T Finance Ltd.” and this defect as alleged not being curable after issuance of demand notice by another group company instead of secured creditor, held the proceedings not sustainable. The order of Debt Recovery Tribunal dated 23rd March, 2018 came to be challenged by the appellant in appeal before the Debt Recovery Appellate Tribunal(DRAT) and after the parties being heard, DRAT vide its order dated 16th April, 2019 set aside the order of Debt Recovery Tribunal which came to be challenged by the respondents in a writ petition before the High Court of Karnataka. The High Court while setting aside the order of DRAT returned its finding in conformity with what was observed by the DRT in its order, which is the subject matter of appeal before us. 10. Learned counsel for the appellant submits that from the initial stage until the demand notice being served under Section 13(2) of the SARFAESI Act or even the later correspondence was on the same letterhead of the appellant from where the proceedings for the term loan was sanctioned in favour of the respondents and further submits that the selfsame authorised signatory, being there of both the companies use common letterhead having its registered office and details of the sanction letter and of Facility Agreement coupled with default committed by the respondents are in reference to “L&T Housing Finance Ltd.” and only at one stage, due to oversight, the appellant inadvertently put the seal of “L&T Finance Ltd.” and it was not the case of the respondents that it has caused any substantial prejudice, either in acknowledging that from whom (secured creditor) demand notice under Section 13(2) has been served which can be further countenanced from the reply to the demand notice filed by the respondents. In the given circumstances, the mere technical defect as being noticed in the demand notice by the Tribunal and confirmed by the High Court in the impugned judgment, will not negate the proceedings which has been initiated by the appellants (secured creditor) in carrying out its obligations and protecting their security interest as contemplated under the provisions of the SARFAESI Act.11. Learned counsel for the appellant further submits that the proceedings initiated under the SARFAESI Act would not nullify on the mere technicality as being pointed out and the High Court without appreciating the material on record has reversed the finding returned by the DRAT in its extraordinary jurisdiction under Article 226 & 227 of the Constitution and if two views are possible, unless found to be perverse it was not justified for the High Court to reverse the finding of fact supported by the material on record and that needs interference of this Court.12. Per contra, learned counsel for the respondents while buttressing the judgment impugned of the High Court submits that when the salient defect has been noticed by the DRT and confirmed by the High Court at the very inception of the proceedings being initiated under the SARFAESI Act, all the consequential proceedings initiated in furtherance thereof in the instant case cannot be said to be in due compliance of the SARFAESI Act and once a procedure has been prescribed by law as mandated under the SARFAESI Act, the secured creditor was under obligation to comply which indisputedly has not been followed, in the given circumstances, no error has been committed by the High Court under its impugned judgment and according to him, it needs no interference of this Court.13. We have heard the learned counsel for the parties and with their assistance perused the material available on record.14. The indisputed fact which emerges from the record is that the respondents borrowed a term loan from the appellant (L&T Housing Finance Ltd.) of Rs.20 crores vide sanction letter dated 07th August, 2015 and later their account became NPA on 15th April, 2017 and prior thereto, the appellant (secured creditor) served a notice on 16th December, 2016 demanding its outstanding dues sanctioned under the seal of their authorised officer on behalf of the lender, which has been informed to this Court was a selfsame authorised signatory of both the companies namely “L&T Housing Finance Ltd.” and “L&T Finance Ltd”. Indisputedly, the notice under Section 13(2) of the SARFAESI Act was served by the authorised signatory on behalf of the appellant on the letterhead commonly used by “L&T Housing Finance Ltd.” and “L&T Finance Ltd.” but inadvertently, the authorised signatory put his signature under the seal of the company “L&T Finance Ltd”. In this backdrop, from reply dated 08th August, 2017 of the respondents, it becomes clear that repayment was demanded by the appellant(secured creditor) only and the respondents tried to justify and assigned reasons for which the Facility Agreement dated 11th August, 2015 could not have been carried out and only thereafter, the appellant (secured creditor) has initiated further proceedings under Section 13(4) read with Section 14 of the Act.15. Notably from the very inception at the stage, when the proposal of taking a term loan from the appellant was furnished by the respondents vide their application dated 15th May, 2015 and accepted by the appellant vide sanction letter dated 07th August, 2015 (P1), the letterhead which was used for the purpose clearly indicates that on the top of the letterhead towards right, it reflects “L&T Finance (Home Loans)” and on the bottom towards left, is of “L&T Housing Finance Ltd.” with their registered office in Mumbai and this has been duly signed by the authorised signatory of the borrower for M/s. Trishul Developers and by its guarantors.16. It manifests from the record that the respondents from the initial stage are aware of the procedure which is being followed by the appellant in its correspondence while dealing with its customers and that is the same practice being followed by the appellant when demand notice dated 16th December, 2016 was served at a later stage. The demand notice in explicit terms clearly indicates the execution of the Facility Agreement dated 11th August, 2015 between the appellant (L&T Housing Finance Ltd.) and the respondents (M/s. Trishul Developers through its partners) and of the default being committed by the respondents (borrower/guarantor) in furtherance thereof, a notice under Section 13(2) of the SARFAESI Act was served on the same pattern of the letterhead which is being ordinarily used by the appellant in its correspondence with its customers and the demand notice dated 14th June, 2017 without leaving any iota of doubt is in reference to the non-fulfillment of the terms and conditions of the Facility Agreement dated 11th August, 2015 executed between the parties and even the schedule of security profile which has been annexed thereto is in reference to the execution of Facility Agreement dated 11th August, 2015 and its noncompliance of the provisions of the SARFAESI Act.17. Even in the reply to the demand notice which was served by the respondents through their counsel dated 08th August, 2017 in compliance to Section 13(3A) of the SARFAESI Act, there was no confusion left in reference to the correspondence taken place between the appellant (secured creditor) and the respondents (borrower) tendering their justification and assigning reasons for which compliance could not have been made and no objection was indeed raised by the respondents in regard to the defect if 13 any, in the demand notice dated 14th June, 2017 which was served by the secured creditor i.e. “L&T Housing Finance Ltd.” in compliance to the provisions of the SARFAESI Act or in furtherance to the proceedings initiated at the behest of the appellant under Section 13(4) read with Section 14 of the Act, for the first time, a feeble attempt was made in raising the alleged technical objection in a Securitisation Application filed before the DRT and succeeded.18. It may be relevant to note that the respondents (borrower) did not deny advancement of loan, execution of Facility Agreement, their liability and compliance of the procedure being followed by the secured creditor (appellant) prescribed under the SARFAESI Act.19. In the facts and circumstances, when the action has been taken by the competent authority as per the procedure prescribed by law and the person affected has a knowledge leaving no ambiguity or confusion in initiating proceedings under the provisions of the SARFAESI Act by the secured creditor, in our considered view, such action taken thereof cannot be held to be bad in law merely on raising a trivial objection which has no legs to stand unless the person is able to show any substantial prejudice being caused on account of the procedural lapse as prescribed under the Act or the rules framed thereunder still with a caveat that it always depends upon the facts of each case to decipher the nature of the procedural lapse being complained of and the resultant prejudiced if any, being caused and there cannot be a straitjacket formula which can be uniformly followed in all the transactions.20. Adverting to facts of the instant case, we are of the view that the objection raised by the respondents was trivial and technical in nature and the appellant (secured creditor) has complied with the procedure prescribed under the SARFAESI Act. At the same time, the objection raised by the respondents in the first instance, at the stage of filing of a Securitisation Application before DRT under the SARFAESI Act is a feeble attempt which has persuaded the Tribunal and the High Court to negate the proceedings initiated by the appel

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lant under the SARFAESI Act, is unsustainable more so, when the respondents are unable to justify the error in the procedure being followed by the appellant (secured creditor) to be complied with in initiating proceedings under the SARFAESI Act.21. The submission made by the respondent’s counsel that the notice under Section 13(2) of the Act was served by the authorised signatory of “L&T Finance Ltd.” and that was not the secured creditor in the facts of the case, in our considered view, is wholly without substance for the reason that “L&T Finance Ltd.” and “L&T Housing Finance Ltd.” are the companies who in their correspondence with all its customers use a common letterhead having their selfsame authorised signatory, as being manifest from the record and it is the seal being put at one stage by the authorised signatory due to some human error of “L&T Finance Ltd.” in place of “L&T Housing Finance Ltd.”. More so, when it is not the case of the respondents that there was any iota of confusion in their knowledge regarding the action being initiated in the instant case other than the secured creditor under the SARFAESI Act for nonfulfillment of the terms and conditions of the Facility Agreement dated 11th August, 2015 or any substantial prejudice being caused apart from the technical objection being raised while the demand notice under Section 13(2) was served under the SARFAESI Act or in the proceedings in furtherance thereof no interference by the High Court in its limited scope of judicial review was called for. Consequently, in our view, the judgment of the High Court is unsustainable and deserves to be set aside.22. In the result, the appeal succeeds and is accordingly, allowed. The impugned judgment dated 27th June, 2019 passed by the High Court of Karnataka is hereby quashed and set aside. No costs.23. Pending application(s), if any, stand disposed of.
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