DENA BANK Vs. MADHU BABBAR AND OTHERS

JUDGEMENT

(1.) The petitioner/Bank is aggrieved by an order dated 02.08.2017 passed by the learned DRAT issuing a notice to show cause to the Senior Manager (Legal), Chief Manager (RMB) and Dy. Zonal Manager of the Bank who are signatories to a departmental note dated 22.06.2017, taking a decision to sell four shops out of a list of 12 shops mortgaged by respondent no. 1 through a private treaty, though they were earlier put to e-auction on two occasions, to explain as to why should it not be assumed that they have abused the process of the Tribunal.

(2.) Under the impugned order, the DRAT has also directed the petitioner/Bank to deposit the sale proceeds received in respect of the four shops in question from two private persons impleaded in the present proceeding as respondent nos. 12 and 13, subject to a final order.

(3.) Briefly stated, the relevant facts of the case are that the respondent no. 11, sole proprietor of M/s. Sachdeva Brothers had approached the petitioner/Bank in the year 2010 for extension of cash credit facilities. The said facilities were duly sanctioned by the petitioner/Bank to the tune of Rs. 1 crore. The respondent no. 11 executed collateral securities for repayment of the credit facilities by creating equitable mortgage in respect of property no. B-1, measuring 131.11 sq. yards, with additional area 16.67 sq. yards on the first floor and above, situated in Village Ghondli in the abadi of DLF Colony, Krishna Nagar, Shahdara, Delhi, by depositing the original title deeds with the petitioner/Bank.