ASHA MEHTA Vs. ALLAHABAD BANK

JUDGEMENT

(1.) Rule. The Learned Counsel for the Respondents waive service. On the request of the Learned Counsel and with their consent, the Petition is taken up for hearing and final disposal.

(2.) The challenge in these proceedings under Article 226 of the Constitution is to an order dated 2 August, 2010 of the Debt Recovery Appellate Tribunal. The Recovery Officer by an order dated 20 November, 2009 dismissed an application filed by the Petitioners objecting to the confirmation of a sale. The order of the Recovery Officer was upheld by the Tribunal and in appeal by the Appellate Tribunal.

(3.) The first respondent, Allahabad Bank filed Original Application 183 of 2004 against the Petitioners for the recovery of its dues. The Application was allowed by the Debt Recovery Tribunal on 1 September, 2005 in the amount of Rs. 33.51 Crores together with future interest at 12% per annum. On 17 October, 2005 a recovery certificate was issued in pursuance of the order of the Tribunal. On 17 December, 2007 the Recovery Officer issued an order of attachment of three properties, among them being Flat 603 situated in a building known as Ruby Apartments at Walkeshwar, Mumbai. The attachment was levied in recovery proceedings 248 of 2005 which was in execution of the order of the Tribunal in O.A. 183 of 2004. On 9 April, 2009 the first respondent filed an affidavit before the Recovery Officer stating that another flat being Flat No. 402 together with two appurtenant garages situated in a building known as Pleasant Park at Peddar Road, Mumbai had been mortgaged in its favour.