VINEDALE DISTILLERIES LTD Vs. DENA BANK

JUDGEMENT

(1.) These Transfer Petitions have been filed by M/s Vinedale Distilleries Ltd. for transfer of two Original Applications pending before the Debts Recovery Tribunal (hereinafter referred to as 'the DRT'), Hyderabad, to the DRT, Jhandewalan, Delhi. While O.A. No. 29 of 2000 was filed by Dena Bank against the Petitioner Company, S.A. No. 157 of 2008 was filed by the Petitioner Company against Dena Bank before the DRT, Hyderabad. The said applications had been made on the basis of an order passed by this Court on 4th January, 2008, in Transfer Petition (C) No. 945 of 2006. While allowing the said Transfer Petition and thereby transferring various suits pending between the parties before the Civil Court in Andhra Pradesh to the Delhi High Court, this Court, on consent of the parties, also directed as follows.:

(2.) Having regard to the above direction, the Petitioners herein have prayed that the two above-mentioned matters filed under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as 'the DRT Act') and Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the Securitization Act'), both pending before the DRT, Hyderabad, be transferred to the DRT, Jhandewalan, Delhi.

(3.) Appearing in support of the Transfer Petitions, Mr. Chetan Sharma, learned Senior Advocate, submitted that since by virtue of the aforesaid order dated 4th January, 2008, all matters pertaining to the Petitioner Company and its management had been transferred to the Delhi High Court in order to avoid confusion, the proceedings pending before the DRT, Hyderabad, were also required to be transferred to the DRT, Jhandewalan, Delhi, so that all matters pertaining to the Vinedale Distilleries and its management could be heard and disposed of by the Delhi High Court exclusively. Mr. Sharma submitted that in order to avoid a possible conflict of decisions among Courts operating in different territorial jurisdictions in regard to the management and control of the Petitioner Company, this Court had directed all matters relating to the Company and its management to be decided by the Delhi High Court exclusively. Mr. Sharma submitted that even further proceedings against the Award of the DRT in Delhi would have to be filed before the Delhi High Court which was also in seisin of the matters pertaining to the management of the company. Mr. Sharma submitted that in the interest of justice and in keeping with the spirit of the order passed by this Court on 4th January, 2008, the pending proceedings before the DRT, Hyderabad, should be transferred to the DRT, Jhandewalan, Delhi.