GLENCO DISTILLERIES PVT. LTD. Vs. UNION OF INDIA

JUDGEMENT

(1.) This writ petition has been filed in the nature of Mandamus, seeking a direction forbearing the Authorized Officer, Canara Bank, the 4th respondent herein from taking physical possession of the property which had been described as land in S.No.236/6, New S.No.236/38 measuring 2318 sq.ft., land in S.No.236/37 measuring 967 sq.ft., land in S.No.236/6, New S.No.236/39 measuring 2318 sq.ft., and land in S.No.236/37 measuring 967 sq.ft., at Thiruveethi Ammal Kovil First Street, Kottivakkam Village, Saidapet Taluk, Chennai, pursuant to a petition dtd. 27/6/2022 in C.M.P.No.263 of 2021 filed under Sec. 14 of the SARFAESI Act, 2002.

(2.) The petitioner had been at logger heads with the 4th respondent / Canara Bank with the issues swinging like a pendulum from one end to another end, but ultimately, though the debts payable had been crystallized, the 4th respondent had not been able to recover any amount as on date. There was an interim order directing the petitioner to deposit a sum of Rs.5,00,00,000.00. The petitioner had not complied with such deposit. The petitioner had also not preferred any appeal against the order of the Debts Recovery Tribunal, only because if any appeal was filed it would entail the petitioner to deposit 50% to 75% of the decree amount. The petitioner had therefore taken a conscious decision not to deposit such amount and not to file any appeal. The petitioner has taken an affinity to file writ petitions before this Court with an ostensible reason, that their possession should not be disturbed, and that though the 4th respondent have a lawful decree in their favour, they should be restrained from taking physical possession.

(3.) The proceedings had been initiated in the year 2013. There is an order in S.A.No.81 of 2014 dtd. 6/1/2015, which was originally S.A.No.58 of 2013 before the DRT - I, which was transferred to DRT - II. That was pursuant to an Application filed under Sec. 17 of the SARFAESI Act, filed by the petitioner herein to declare the possession notice dtd. 3/4/2013 as null and void and to pass necessary orders restraining the 4th respondent / Canara Bank from proceeding further against the secured assets. By order dtd. 6/1/2015, the petitioner suffered an order of dismissal and as against that particular order no appeal has been filed.