Madras High Court
Oren Mud Chemicals Pulverising ... vs The Registrar on 13 September, 2023
W.P.No.25235 of 2023
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 13.09.2023
CORAM :
THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE
AND
THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU
W.P.No.25235 of 2023
Oren Mud Chemicals Pulverising Private Limited
Rep. by its Director Rizwan Ahmed
Having registered office at
28/2B, Saravana Street, T.Nagar
Chennai 600 017. .. Petitioner
Vs.
1. The Registrar
Debts Recovery Tribunal III
Shastri Bhavan
Chennai 600 006.
2. ICICI Bank Limited
3rd Floor, West Wing #24
South Phase, Ambattur
Chennai 600 058
Tamil Nadu. .. Respondents
Prayer: Petition filed under Article 226 of the Constitution of India
seeking a writ of Certiorarified Mandamus to call for the records
pertaining to S.I.A.No.672 of 2023 in S.A.No.265 of 2023 on the file
Page 1 of 6
https://www.mhc.tn.gov.in/judis
W.P.No.25235 of 2023
of the Debts Recovery Tribunal III, Chennai dated 30.05.2023, quash
the same and consequently, direct the Debts Recovery Tribunal III,
Chennai to hear and dispose the S.I.A.No.672 of 2023 in S.A.No.265
of 2023 after providing due opportunity of hearing and pass
consequential orders.
For the Petitioner : Mr.Tarun Rao Kallakuru
For the Respondents : Mr.Nithyaesh Natraj
for Respondent-2
ORDER
(Made by the Hon'ble Chief Justice)
Heard Mr.Tarun Rao Kallakuru, learned counsel for the petitioner
and Mr.Nithyaesh Natraj, learned counsel for the second respondent.
2. The petitioner has approached this Court against an order
dated 30.05.2023. Under the said order, as the petitioner did not
deposit any amount, the S.I.As are dismissed with cost of Rs.5,000/-
and on the main S.A., notices are issued.
https://www.mhc.tn.gov.in/judis
W.P.No.25235 of 2023
3. The bone of contention is that no provision exists for a pre-
deposit of the amount so as to hear the stay application.
4. No provision could be pointed out by learned counsel for the
bank of a pre-deposit for hearing the stay application in a
Securitisation Application filed under Section 17 of the SARFAESI Act.
5. No doubt, the Presiding Officer of the Debts Recovery
Tribunal, after hearing the stay application on merits, can pass an
order of stay upon condition of deposit of amount. But, can not refuse
to hear the S.I.A. on the ground that memo is not filed to show the
bona fide of remitting the amount to the credit of the loan account.
6. Further, the impugned order is passed without adhering to
the principles of natural justice.
7. Reference has been made to the judgment of the Full Bench
of this Court in M/s. Lakshmi Shankar Mills (P) Ltd. v. The Authorised
Officer/Chief Manager, Indian Bank [2008 (2) LW 381].
https://www.mhc.tn.gov.in/judis
W.P.No.25235 of 2023
8. In the light of the above, the impugned order is quashed and
set aside and the parties are relegated before the Debts Recovery
Tribunal III. The Debts Recovery Tribunal shall hear the stay
application filed by the petitioner on its own merits.
9. We are informed that the date fixed before the Tribunal is
19.09.2023. The parties may appear on the said date.
10. The writ petition is disposed of. There will be no order as to
costs. Consequently, W.M.P.Nos.24640, 24641 & 24694 of 2023 are
closed.
(S.V.G., CJ.) (P.D.A., J.)
13.09.2023
Index : Yes/No
Neutral Citation : Yes/No
kpl
To
https://www.mhc.tn.gov.in/judis
W.P.No.25235 of 2023
1. The Registrar
Debts Recovery Tribunal III
Shastri Bhavan
Chennai 600 006.
2. ICICI Bank Limited
3rd Floor, West Wing #24
South Phase, Ambattur
Chennai 600 058
Tamil Nadu.
https://www.mhc.tn.gov.in/judis
W.P.No.25235 of 2023
THE HON'BLE CHIEF JUSTICE
AND
P.D.AUDIKESAVALU, J.
(kpl)
W.P.No.25235 of 2023
13.09.2023
https://www.mhc.tn.gov.in/judis
