Micro Enterprises Pvt. Ltd. & Anr vs Small Industries Development ...
2017 Latest Caselaw 3985 Del

$~12
*      IN THE HIGH COURT OF DELHI AT NEW DELHI
+      W.P.(C) 3344/2017 & CM No.14597/2017
       MICRO ENTERPRISES PVT. LTD. & ANR             ..... Petitioners
                    Through   Mr. Rajiv Bansal, Sr. Advocate with
                              Naveen Sharma, Ms. Ankita Das, and
                              Ms.Vasudha Trivedi, Advocates

                           versus

       SMALL INDUSTRIES DEVELOPMENT
       BANK OF INDIA                             ..... Respondent
                     Through  Mr. R.P Vats, Advocate for R-1

       CORAM:
       HON'BLE MS. JUSTICE HIMA KOHLI
       HON'BLE MS. JUSTICE DEEPA SHARMA
                    ORDER

% 08.08.2017

1. A detailed order was passed on 24.04.2017 on which date, directions were issued to the parties to appear before the DRT-III for further proceedings in SA No. 252/2016 and the present case was adjourned to await the decision of the DRT. Further, the respondent was directed not to take any coercive steps against the petitioners in respect of the immovable property located at 87 Milestone, NH-8, Village Kathuwas, Rewari, Haryana.

2. Today, learned counsel for the parties jointly state that the DRT-III has passed an order dated 15.07.2017, dismissing S.A No. 252/2016 filed by the petitioner. A copy of the aforesaid order has been forwarded to this Court directly by the DRT and is on record.

3. Mr. Bansal, learned Senior Advocate appearing for the petitioners states that the petitioners propose to challenge the said order by filing an appeal before DRAT at the earliest along with a stay application.

4. In view of the above development, the present petition is disposed of with liberty granted to the petitioners to file an appeal against the order dated 15.07.2017 passed by the DRT-III.

5. In view of the fact that the petitioners have admittedly deposited a total sum of Rs. 4.43 crores with the respondent/Bank which includes a sum of Rs. 1.13 crores which was deposited with the DRAT and has been subsequently withdrawn by the Bank, the DRAT shall not insist on any further deposit as a pre-condition for hearing the appeal.

6. As and when the said appeal is listed before the learned DRAT, the stay application filed by petitioners may be considered and decided in accordance with law. Till the said application is decided, the interim order dated 21.04.2017, shall continue to operate in favour of the petitioners.

7. The petition is disposed of.

HIMA KOHLI, J

DEEPA SHARMA, J AUGUST 08, 2017/ND