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P. Tanveer Ahmed & Another v/s The Authorised Officer, M/s. Bank of Baroda, International Business Branch, Chennai

Company & Directors' Information:- A T N INTERNATIONAL LIMITED [Active] CIN = L65993WB1983PLC080793

Company & Directors' Information:- S P INTERNATIONAL PRIVATE LIMITED [Active] CIN = U70100WB1994PTC063228

Company & Directors' Information:- B. K. INTERNATIONAL PRIVATE LIMITED [Active] CIN = U74999DL2006PTC157013

Company & Directors' Information:- J C INTERNATIONAL LIMITED [Active] CIN = U51109WB1999PLC089037

Company & Directors' Information:- V. G. INTERNATIONAL PRIVATE LIMITED [Active] CIN = U51101DL2007PTC162540

Company & Directors' Information:- K C INTERNATIONAL LIMITED [Active] CIN = U74899DL1994PLC060402

Company & Directors' Information:- S B S INTERNATIONAL PRIVATE LIMITED [Active] CIN = U18101DL1997PTC085878

Company & Directors' Information:- M J INTERNATIONAL PRIVATE LIMITED [Amalgamated] CIN = U74899DL1982PTC013231

Company & Directors' Information:- M. H. INTERNATIONAL PRIVATE LIMITED [Active] CIN = U70102DL2007PTC164267

Company & Directors' Information:- H AND Z INTERNATIONAL LIMITED [Active] CIN = U10102AS1995PLC004509

Company & Directors' Information:- D. J. INTERNATIONAL LIMITED [Strike Off] CIN = U65910MH1999PLC119298

Company & Directors' Information:- S P INTERNATIONAL PVT LTD [Strike Off] CIN = U99999UP1965PTC003091

Company & Directors' Information:- J M INTERNATIONAL PVT LTD [Active] CIN = U45201WB1991PTC050829

Company & Directors' Information:- R R BUSINESS PRIVATE LIMITED [Active] CIN = U74999WB2007PTC176588

Company & Directors' Information:- M R BUSINESS PRIVATE LIMITED [Active] CIN = U51109WB1994PTC064165

Company & Directors' Information:- D P C INTERNATIONAL PVT LTD [Active] CIN = U74210WB1984PTC037378

Company & Directors' Information:- P D K INTERNATIONAL PVT LTD [Active] CIN = U74140WB1992PTC056468

Company & Directors' Information:- A J INTERNATIONAL PRIVATE LIMITED [Converted to LLP] CIN = U74899DL1994PTC060818

Company & Directors' Information:- S S M INTERNATIONAL PRIVATE LIMITED [Active] CIN = U51909DL1997PTC089876

Company & Directors' Information:- I B INTERNATIONAL PRIVATE LIMITED [Under Process of Striking Off] CIN = U72200DL2000PTC105735

Company & Directors' Information:- H P AND B G INTERNATIONAL PRIVATE LIMITED [Active] CIN = U50500DL1999PTC100851

Company & Directors' Information:- M B INTERNATIONAL PVT LTD [Strike Off] CIN = U52190DL2001PTC110572

Company & Directors' Information:- M. L. G. BUSINESS PRIVATE LIMITED [Active] CIN = U51101UP2010PTC040398

Company & Directors' Information:- J S INTERNATIONAL PVT LTD [Strike Off] CIN = U51900MH1982PTC027604

Company & Directors' Information:- A V S BUSINESS PRIVATE LIMITED [Strike Off] CIN = U31908UP2010PTC040437

Company & Directors' Information:- A C BUSINESS PRIVATE LIMITED [Strike Off] CIN = U45208MH2009PTC197088

Company & Directors' Information:- E C INTERNATIONAL PVT LTD [Strike Off] CIN = U99999DL1982PTC013146

Company & Directors' Information:- A K INDIA INTERNATIONAL PRIVATE LTD [Strike Off] CIN = U45201DL1981PTC012389

Company & Directors' Information:- C L BUSINESS PRIVATE LIMITED [Active] CIN = U93000WB2014PTC202032

Company & Directors' Information:- Y. A. INTERNATIONAL PRIVATE LIMITED [Strike Off] CIN = U74900RJ2012PTC040431

Company & Directors' Information:- V P S INTERNATIONAL PRIVATE LIMITED [Strike Off] CIN = U93030UP2014PTC066242

Company & Directors' Information:- INTERNATIONAL CO PRIVATE LIMITED [Strike Off] CIN = U51109UR1935PTC000663

Company & Directors' Information:- J. AHMED AND COMPANY LIMITED [Liquidated] CIN = U99999MH1954PLC009225

    C.R.P. No. 3829 of 2019

    Decided On, 27 July 2021

    At, High Court of Judicature at Madras


    For the Petitioners: B. Thilak Narayanan, Advocate. For the Respondent: R. Umasuthan, Advocate.

Judgment Text

(Prayer: Revision filed under Article 227 of the Constitution of India against the order dated 25.9.2019 in I.A.No.1015 of 2019 in S.A.No.324 of 2019 on the file of the Debts Recovery Tribunal-II, Chennai.)

Sanjib Banerjee, CJ.

1. The subsequent events have completely overtaken the petition and the prayers made therein.

2. It is evident that the petitioners herein, defaulters in making repayment to the respondent secured creditor, carried a matter to the Debts Recovery Tribunal under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The matter pertains to the measures taken by the secured creditor in respect of immovable properties furnished by way of security.

3. On the petitioners’ interim application, the Debts Recovery Tribunal issued an initial order on September 13, 2019 directing the secured creditor to maintain the status quo prevailing on such date in respect of the property described in possession notices dated July 26, 2019 and August 3, 2019 till September 30, 2019.

4. The grievance carried by the petitioners in the present petition is that such interim order was sought to be vacated at the behest of the bank at a time when the petitioners could not be represented because of the death in the family of the advocate. The petitioners say that the order impugned dated September 25, 2019 should not have been passed in the absence of the petitioners. By the order impugned dated September 25, 2019, the earlier order of September 13, 2019 was clarified to the effect that the physical dispossession of the petitioners herein from the property or properties in question would not take place till September 30, 2019, but no further embargo was placed on the secured creditor.

5. It now appears that the property has been sold. Accordingly, there is no question of restoring the status quo ante since the secured creditor had the right to sell the property and third party interests in respect of the property have accrued.

6. The petitioners claim that a substantial portion of the debt due has been repaid and, according to the petitioners, about Rs.14 lakh remains outstanding after paying off more than Rs.1.10 crore since the receipt of the notice under Section 13(2) of the Act. However, the secured creditor claims that after adjusting the sale proceeds, an amount in excess of Rs.60 lakh remains due.

7. Since the relief in respect of the relevant property can no longer be obtained by the petitioners upon the sale in respect thereof being concluded, the parties are left free to workout their remedies in accordance with law. The Debts Recovery Tribunal will do we

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ll to dispose of the petitioners’ plea before it as expeditiously as possible. 8. C.R.P.No.3829 of 2019 is disposed of without interfering with the order impugned dated September 25, 2019. Consequently, C.M.P.Nos.25245 and 25247 of 2019 are closed. There will be no order as to costs.