RAJENDER PRASAD Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) CAV 431/2015 Learned counsel for the Caveator has put in appearance. Caveat No. 431/2015 is accordingly discharged.

(2.) THE petitioner claims to be bonafide purchaser of property described as bearing no. A -127,IInd floor, Majlis Park, Delhi (hereinafter referred to as "the subject property"), on the strength of documents in the nature of registered Power of Attorney, Agreement to Sell, Receipt, Undertaking and registered Will, all dated 16 -08 -1999 executed by Mrs. Kala Devi wife of late Mr. Ganpat Rai Goel. The SA was moved by the petitioner in the wake of notice dated 17 -07 -2006 issued, under Section 13(4) of the SARFAESI Act, by the respondent bank in respect of the subject property. The SA was dismissed by the DRT holding that Mrs. Kala Devi did not have any legal right to transfer the subject property in favour of the petitioner in 1999 since she had relinquished her rights therein in the year 1992. The appeal before DRAT remained unsuccessful with the afore -mentioned finding of fact having been affirmed.

(3.) IT is necessary to take note at this stage of the facts found by the DRT in the inquiry arising out of the Securitization Application of the petitioner.