ICICI BANK LTD Vs. JAYANT VITAMINS LTD

JUDGEMENT

(1.) This Notice of Motion is taken out by the Defendant No.2 for discharge of the Court Receiver in respect of a part of the suit properties for which the Court Receiver was appointed with further directions to the Receiver to handover possession of the said properties to the Receiver appointed by the Debt Recovery Tribunal (DRT).

(2.) The Plaintiff, Defendants 3,4,5 & 6 who are also banks and public sector companies and who have a pari passu charge in respect of the suit properties, have not opposed this Notice of Motion.

(3.) Defendant Nos.1 and 7 have opposed the Notice of Motion though under an interim order of this Court all the parties including Defendant No.1 and 7 agreed to jointly dispose off the properties for payment of the liabilities of Defendant No.1 to the Plaintiffs as also Defendants 2 to 6.