OM CONSTRUCTION AND INFRASTRUCTURES Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard the learned Counsel for the parties.

(2.) The Petitioner is the borrower of Respondent No. 4-Bank. In spite of the recovery certificate issued against the Petitioner in March 2019 for Rs.1,04,07,785.00plus interest has not paid a single rupee till date and has only subjected Respondent No. 4-Bank to multiple litigations. The present Petition being one of such litigations.

(3.) The Petitioner is in the business of construction and real estate development. The Petitioner had obtained loan from Respondent No. 4-Bank in the year 2014. The Petitioner, as stated earlier, has not repaid the loan amounts, not even a portion of it. Therefore, on 20/8/2018, Respondent No. 4-Bank filed recovery application under Sec. 101 of the Maharashtra Co-operative Societies Act, 1960 (the Act of 1960) for recovery of dues amounting to Rs.1,04,07,785.00. The recovery certificate was issued on 13/3/2019 by the Deputy Registrar Co-operative Societies. Notice prior to attachment was issued on 30/3/2019 by the Special Recovery Officer regarding attachment of the mortgaged properties. On 14/5/2019, the mortgaged properties of the Petitioner were attached and public notice was issued regarding attachment of the said properties. The Deputy Registrar Co-operative Societies debating regarding the upset price and challenging the auction notices issued in April and May 2022 just prior to auction was scheduled.