M/S Periwal Chemicals Industries ... vs Bihar State Credit And Investment ...
2022 Latest Caselaw 2850 Jhar

    IN THE HIGH COURT OF JHARKHAND AT RANCHI
               (Letters Patent Appellate Jurisdiction)

                               LPA No. 737 of 2018
                                     ------

M/s Periwal Chemicals Industries Pvt. Ltd. .... ... Appellant Versus Bihar State Credit and Investment Corporation, Patna & Others ... ...Respondents

-------

CORAM : HON'BLE MR. JUSTICE SHREE CHANDRASHEKHAR HON'BLE MR. JUSTICE RATNAKER BHENGRA

-------

For the Appellant : Mr. Ajit Kumar, Sr. Advocate;

Ms. Amrita Sinha, Advocate For the Respondents : Mr. A.K.Das, Advocate

-------

th Order No.10/Dated: 26 July 2022 During pendency of the writ petition which was filed challenging the auction sale of the mortgaged properties belonging to M/s Periwal Chemicals Industries Pvt. Ltd. which is the appellant before us, an application for intervention was filed by Dilasa Commodities Pvt. Ltd., Ranchi which was disposed by order dated 26th September 2018 - writ petition was also dismissed by this order.

Dilasa Commodities Pvt. Ltd., Ranchi is the entity with which the appellant had entered into some arrangement for paying all the bank's dues.

It has been brought to our notice that LPA No. 22 of 2019 filed by Dilasa Commodities Pvt. Ltd., Ranchi challenging the final order dated 26th September 2018 passed in WP(C) No. 1360 of 2017 was dismissed holding that Dilasa Commodities Pvt. Ltd., Ranchi has no locus standi to challenge the final judgment passed by the writ Court.

Mr. Ajit Kumar, the learned senior counsel for the appellant, takes us through the orders dated 20th April 2017 and 10th October 2017 passed in LPA No. 154 of 2017, which was filed by the appellant against the order dated 10th March 2017 passed in WP(C) No. 1360 of 2017.

In the order dated 20th April 2017, a coordinate Bench of this Court indicated that on deposit of Rs. 1.51 crore by the appellant the parties shall maintain status quo existing as on that day. In the order dated 10th October 2017, the Court indicated that the amount of Rs. 1.51 crore deposited by the appellant shall remain with the Registry of this Court and

-2- LPA No. 737 of 2018

that amount shall be settled towards final liability, if any. However, the said order was made without going into the merits of the case.

Mr. Ajit Kumar, the learned senior counsel for the appellant, informs the Court that the appellant has approached the Hon'ble Supreme Court by filing a Special Leave Petition against the order dated 10th October 2017.

Mr. A.K.Das, the learned counsel for the BICICO, submits that the appellant during pendnecy of the present Letters Patent Appeal availed OTS Scheme under the category of sold off properties and settled the dues.

In view of the aforesaid developments, Ms. Amrita Sinha, the learned assisting counsel to Mr. Ajit Kumar, the learned senior counsel for the appellant, shall seek instruction whether the appellant wants to prosecute the present Letters Patent Appeal or not.

Ms. Amrita Sinha, the learned assisting counsel to Mr. Ajit Kumar, the learned senior counsel for the appellant, seeks adjournment by six weeks so as to enable the appellant to prosecute the Special Leave Petition filed before the Hon'ble Supreme Court.

On her request, post this matter on 14th September 2022.

                                             (Shree Chandrashekhar, J.)


SB/Nibha                                       (Ratnaker Bhengra, J.)