(1.) These appeals arise from the judgment dtd. 15/5/2009 passed by the High Court of Madhya Pradesh at Jabalpur (High Court) in Writ Petition No. 2199 of 2008, whereby the High Court set aside the judgment of the Debts Recovery Appellate Tribunal, Allahabad (DRAT) dtd. 1/2/2008 and remitted the matter to the Debts Recovery Tribunal, Jabalpur (DRT) for a fresh inquiry. The appellant before us in C.A. No. 182 of 2016 is an Auction-Purchaser whereas appellant in C.A. No. 190 of 2016 is Punjab & Sind Bank (the Bank). C.A. No. 191 of 2016 has been filed by Jagminder Singh, son of late Mr. Hardayal Singh (the judgment-debtor). In order to appreciate the challenge laid by the appellants to the impugned judgment, it is necessary to set out the relevant facts, which are stated infra.
(2.) M/s. Sterling Malt and Foods Pvt. Ltd. (the Company) was a company incorporated with the judgment- debtor, the husband of Smt. Mohini Hardayal Singh (respondent no.1) and Mr. N.S.S. Rao as its Managing Directors having its registered office at S-246, Panchsheel Park, New Delhi. The Company manufactured malt at its factory located at 34, Industrial Area Banmore, District Morena, Madhya Pradesh.
(3.) The Company availed credit facilities from the Bank through its branches at Connaught Place, New Delhi and Jayendraganj, Gwalior. A charge was created over the factory land, building, plant and machinery, and the two Directors of the Company, namely judgment-debtor and Mr. N.S.S. Rao furnished personal guarantees. The house bearing No. S-246, Panchsheel Park, New Delhi (the Delhi Property) was not mortgaged for the loan taken by the Company.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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