OFFICIAL LIQUIDATOR Vs. SAVANNAH LIFESTYLE PRIVATE LIMITED

JUDGEMENT

(1.) Liquidator of Vasantdada Shetkari Sahakari Bank Ltd. (the Bank) has filed Interim Application No. 13400 of 2024 seeking recall of order dtd. 21/10/2022, which is passed in view of Minutes of Order dtd. 20/10/2022. Review Petition No.85 of 2024 is filed by Mr. Amit Prabhakar Kore, suspended director of M/s. Shaila Clubs & Resorts Private Limited (Shaila Clubs) seeking review of Order dtd. 21/10/2022. Shaila Clubs has filed Review Petition No. 38 of 2023 seeking review of the Order dtd. 21/10/2022.

(2.) Thus, the Interim Application and the two Review Petitions essentially seek either recall or review of order passed by this Court on 21/10/2022 disposing of Writ Petition No.11610 of 2022 based on Minutes of Order tendered on 20/10/2022. Since all the three proceedings seek either recall or review of the same order, the same are decided by this common judgment.

(3.) Considering the narrow controversy involved in the present application and review petitions, it is not necessary to narrate the chequered history of the case. Shaila Clubs owns and operates a recreational club at Plot No. NA/164(Pt) CTS No.C/12/A, Everest Cooperative Housing Society Limited, 151, Hill Road, Bandra (West), Mumbai 400 050. For the purpose of setting up and commencing the recreational club, Shaila Clubs applied for loan from the Bank as well as from the Greater Bombay Co-operative Bank. On 2/5/2005 both the Banks agreed to sanction credit facilities in favour of Shaila Clubs, which were duly secured by the Shaila Clubs by mortgaging its property at Bandra vide registered Deed dtd. 27/5/2005. It appears that Shaila Clubs repaid entire loan amount disbursed by Greater Bombay Co-operative Bank and the Bank remained the sole mortgagee in respect of the Shaila Clubs premises since the Bank's loan was not fully repaid.