CANARA BANK(ERSTWHILE SYNDICATE BANK) Vs. KARISHMA ENTERPRISES

JUDGEMENT

(1.) The present Petition, filed by the Petitioner, assails the correctness of the order dtd. 2/3/2016 [hereinafter referred to as "Impugned Order"] passed by the learned Debts Recovery Appellate Tribunal [hereinafter referred to as "DRAT"], Delhi, in Appeal No. 37/2016, titled M/s Karishma Enterprises & Anr. v. Syndicate Bank & Anr.

(2.) The issue that arises for consideration in the present petition is whether the learned DRAT erred in failing to appreciate the prior conduct and explicit consent of Respondent Nos.1 and 2 to the sale of the mortgaged property as duly recorded in the learned Debt Recovery Tribunal's [hereinafter referred to as "DRT"] order dtd. 16/4/2014 and in disregarding the fact that despite having consented to such directions, the Respondents nevertheless challenged the order in Appeal No. 303/2014, which was ultimately disposed of as not pressed and infructuous by the learned DRAT vide order dtd. 16/12/2014.

(3.) In order to comprehend the issues involved in the present case, relevant facts, in brief, are required to be noticed.