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TMI Blog2019 (11) TMI 1741X X X X Extracts X X X X X X X X Extracts X X X X ..... ond what had fallen for adjudication under Section 17 of the said Act. It is also seen that the Tribunal had disposed of the application filed by the opposite party no. 6 by passing an order in the nature of a final relief thereby treating the letter dated February 2, 2016 as withdrawn. It is also true that the application filed by the opposite party no. 6 praying for deletion of its name with a further prayer for cancellation of the letter dated February 2, 2016 upon securing the amount has been disposed of, which means that the question whether the tribunal had the authority to cancel and/or treat that letter as withdrawn was no more left for adjudication. This point was overlooked by the learned appellate tribunal. Let this matter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al application was availed by the principal borrowers in order to purchase an office space and also six car parking spaces from the defendant no.6/opposite party no.6. In order to ensure that the relevant property was duly mortgaged to the petitioner for securing repayment of the loan, a quadripartite agreement was executed on June 29, 2011, which was consciously entered into by, inter alia, the defendant no.6. Under the quadripartite agreement executed on June 29, 2001, the defendant/respondent no.6 was put under an obligation not to sell, transfer, convey, alienate or dispose of and not to otherwise deal with or encumber the property-in-question or any portion thereof without a prior written consent from the petitioner. It was al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olkata, committed error of jurisdiction. It was submitted that the DRT-III erred in passing the order dated September 20, 2016 on the application of the opposite party No.6 directing the letter of complaint dated February 2, 2016 issued by the Bank to the Indian Banks Association to be withdrawn and/or treated to be withdrawn, if the opposite party no. 6 secured an amount of Rs.1.50 crores which was to be kept in a separate interest bearing account. It is the contention of the petitioner that the power of the Tribunal was confined to the provision of Section 17 of the said Act and not beyond the scope of that section. The petitioner referred to the preamble to the said Act which was promulgated to provide for establishment of a tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h as, the said letter did not have any bearing in the proceedings before the Tribunal. It is urged that the Appellate Tribunal erred in law by upholding the said order on the ground that Rs.1.50 crores had been paid to the petitioner bank and the property was secured, being under a Receiver. The learned advocate for the opposite party no. 6 submits that the letter dated February 2, 2016 was not issued in terms of the RBI guidelines. No opportunity of hearing was given to the said opposite party. There was no decision on the issue of fraud as alleged. Although it was alleged that the opposite party no. 6 had perpetrated the fraud in the entire transaction especially by acting in breach of the quadripartite agreement, the same was not prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to mean that the Tribunal had the power to decide on issues beyond what had fallen for adjudication under Section 17 of the said Act. It is also seen that the Tribunal had disposed of the application filed by the opposite party no. 6 by passing an order in the nature of a final relief thereby treating the letter dated February 2, 2016 as withdrawn. It is also true that the application filed by the opposite party no. 6 praying for deletion of its name with a further prayer for cancellation of the letter dated February 2, 2016 upon securing the amount has been disposed of, which means that the question whether the tribunal had the authority to cancel and/or treat that letter as withdrawn was no more left for adjudication. This point was ov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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