Delhi High Court
M S Bishambhar Exports Pvt Ltd vs Punjab National Bank And Ors on 25 October, 2024
Author: Manmohan
Bench: Tushar Rao Gedela, Manmohan
$~49
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 15110/2024
M S BISHAMBHAR EXPORTS PVT LTD .....Petitioner
Through: Ms. Savya Garg and Mr. Shivanshu
Bharadwaj, Advocates.
versus
PUNJAB NATIONAL BANK AND ORS .....Respondents
Through: Mr. Simar Pal Singh, Advocate for R-
1.
Mr. Santosh Kumar Raut, Standing
Counsel with Ms. Dharna Veragi,
Advocate for Indian Bank (e-
Allahabad Bank).
% Date of Decision: 25th October, 2024
CORAM:
HON'BLE THE CHIEF JUSTICE
HON'BLE MR. JUSTICE TUSHAR RAO GEDELA
JUDGMENT
MANMOHAN, CJ : (ORAL)
1. Present petition has been filed challenging the order dated 21st
February, 2022 passed by the Recovery Officer-I, DRT-II, Delhi in
RC/141/2017 whereby RO-I set aside the auction of the subject property.
The petitioner further seeks directions to RO-I, DRT-II, Delhi to issue the
sale certificate and handover the physical possession of property bearing
Plot No. MA-23, Moulsary Avenue, DLF City, Phase-III, Gurugram,
Haryana by confirming the auction held on 28th February, 2020 in favour of
the petitioner.
2. Learned counsel for the petitioner states that on 24th January, 2020,
the petitioner came to know of the auction of the subject property through
notice of sale proclamation published in newspapers and the petitioner
deposited the earnest money on 26th February, 2020. She states that on 26th
February, 2020, the respondent/Corporate Debtors (CDs) filed their
objections against the auction sale without serving any advance copy to the
petitioner.
3. She states that the petitioner duly participated in the auction
proceedings on 28th February, 2020 and the petitioner was declared as the
highest bidder. She states that the petitioner deposited the entire bid price i.e.
Rs. 5,39,00,000/- along with the poundage fee by way of demand draft
within the prescribed time against the reserve price of Rs. 4,51,00,000/-. She
states that on 23rd September, 2020, the petitioner filed an application for
confirmation of sale and issuance of sale certificate. She states that RO-I
vide the impugned order set aside the auction of the subject property.
4. She states that on 16th March, 2022, respondent no.1/Punjab National
Bank filed an Appeal bearing no. 6/2022 against the impugned order dated
21st February, 2022 passed by RO-I, DRT-II. She further states that on 30th
May, 2022, the petitioner also filed an appeal bearing no. 19/2022 against
the impugned order and the same was dismissed vide order dated 3rd
January, 2024 passed by DRT-II on the technical issue of limitation.
5. She states that in April 2024, the petitioner filed IA No.2131/2024 for
early hearing and expeditious disposal of the Appeal no. 6/2022 filed by
respondent no.1 which was dismissed vide order dated 7th May, 2024 and the
matter is now listed for hearing on 7th January, 2025.
6. Keeping in view the aforesaid, this Court disposes of the present writ
petition with a direction to DRT-II to decide the Punjab National Bank's
appeal bearing no. 6/2022 as expeditiously as possible, preferably within
three months from the next date of hearing. The rights and contentions of all
the parties are left open.
MANMOHAN, CJ
TUSHAR RAO GEDELA, J
OCTOBER 25, 2024
Aj
