MANGLESH CHAMPAKLAL GANDHI Vs. ADITYA BIRLA FINANCE LTD

JUDGEMENT

(1.) This petition under Article 226 of the Constitution of India has been filed by the petitioner with the following prayers :

(2.) By the impugned order dated 14.08.2019, the Debt Recovery Appellate Tribunal at Mumbai (for short 'DRAT') in an appeal filed by the respondent institution has set aside the order of the Debt Recovery Tribunal-II, Ahmedabad (for short 'DRT') dated 08.01.2019 in Securitization Application No. 7 of 2019 filed by the petitioner. By the order under challenge, the DRAT has held that once the Debt Recovery Tribunal clearly recorded a finding that the petitioners had failed to approach the Tribunal within 45 days, and since therefore there was a clear finding that the application is filed beyond 45 days, the DRT could not have passed the order dated 08.01.2019. According to DRAT, an application under Section 17 of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act') has to be filed within 45 days and the DRT is not expressly conferred with the power to condone delay and therefore the Presiding Officer was not right in entertaining the application on merits, when it was filed beyond the period of 45 days. Since the order of the DRT dated 08.01.2019 in favour of the petitioner was set aside by the DRAT, the petitioner is before this Court.

(3.) Facts in brief are as under: