9911796707
TMI Blog2018 (6) TMI 903X X X X Extracts X X X X X X X X Extracts X X X X ..... or under this Act to determine and no injunction can be granted by any Court or authority in respect of any action taken or to be taken in pursuance of any power conferred by or under the Act. The respondent Nos.5 and 6 would, however, contend that crucial aspects have been glossed over by the DRT and DRAT including the effect of admitted position that respondent No.5 is in possession of the subject property and also having custody of the original share certificate and few receipts issued by the Society - it is appropriate to relegate the parties before the High Court by setting aside the impugned judgment and leaving all questions open, to be decided by the High Court on its own merits and in accordance with law. Appeal allowed by wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... registered document which would not confer any right, title and interest in their favour in the said flat. Further, the share certificate of the said flat has already been transferred by the Society in the name of the directors of respondent No.1 Company i.e. Mrs. Zahoor K. Dhanani, Mr. Karim K. Dhanani and Mrs. Habika K. Dhanani (respondent Nos.2, 3 and 4 herein). It is also held that the Society has contemporaneously recorded the factum of mortgage created by the said respondents in respect of the subject flat in favour of the Bank; and that the said respondents were not coming forward to deny the stated mortgage. On the basis of the documentary evidence, DRT as well as the DRAT concurrently held that it is well established that the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he High Court proceeded to pass the following operative order in the said writ petition: 6] Accordingly, we dispose of the writ petition with the following directions: a] Period of 8 weeks is granted for the writ petitioners to approach proper forum to get adjudication of the rights of the writ petitioners as contended in the writ petition and within the said period of 8 weeks, they shall file and seek 5 proper interim relief in their favour. Till expiry of 8 weeks, the 1st respondent bank shall not proceed with the matter in terms of the order obtained by them before Debts Recovery Tribunal so far as the property in question; b] Amount of ₹ 25 Lacs shall be deposited in an interest earning deposit, by the respond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the subject flat in their (writ petitioners) favour. The respondent Nos.5 and 6 would also contend that the original share certificate and few receipts of payments made to the Society were still in their possession and that the entries effected in the Society s record to transfer the share certificate in favour of respondent Nos. 2 to 4 are fabricated. 6. After having considered the rival submissions of the parities, we have no hesitation in acceding to the argument urged on behalf of the Bank that the mandate of Section 13 and, in particular, Section 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, the 2002 Act ), clearly bars filing of a civil suit. For, no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but chose to dispose of the writ petition by giving liberty to the writ petitioners to pursue their remedy before a proper forum. The respondent Nos.5 and 6 (writ petitioners) would, however, contend that crucial aspects have been glossed over by the DRT and DRAT including the effect of admitted position that respondent No.5 (writ petitioner No.1) is in possession of the subject property and also having custody of the original share certificate and few receipts issued by the Society. In these circumstances, we deem it appropriate to relegate the parties before the High Court by setting aside the impugned judgment and leaving all questions open, to be decided by the High Court on its own merits and in accordance with law. 8. We find fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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