SUNIL GUPTA Vs. ASSET RECONSTRUCTION COMPANY (INDIA) LTD.

JUDGEMENT

(1.) By consent, this petition was taken as a lead matter. Counsel agreed that the findings in this petition would also equally apply to Writ Petition No.4880 2002. Counsel also stated that the order in Writ Petition (ST.) No.11009 of 2021 and Writ Petition (ST.) No.11010 of 2021 would depend on our conclusions in this petition. Counsel also stated that if the Court is inclined to allow this petition, Writ Petition No.4880 2002 will also have to be allowed and consequently, Writ Petition (ST.) No.11009 of 2021 and Writ Petition (ST.) No.11010 of 2021 will have to be dismissed.

(2.) In this petition, petitioners are impugning a judgment dtd. 12/5/2021 passed by the Debt Recovery Appellate Tribunal (the DRAT) by which the DRAT dismissed the appeal that petitioners had filed. In the appeal, petitioners were impugning an order dtd. 27/4/2011 passed by the Debt Recovery Tribunal (the DRT).

(3.) The DRT, in O.A. No.927 of 2001, had passed an ex-parte decree dtd. 11/12/2009 qua petitioners. When petitioners applied for recall of the ex-parte decree, the DRT did not entertain the said Miscellaneous Application and dismissed the same by its order dtd. 27/4/2011. It was that order that petitioners had challenged before the DRAT, which dismissed the appeal by the impugned order and judgment dtd. 12/5/2021.