MAHINDRA CHANDRASEN Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) The petitioners in Writ Petition No. 5252 of 2015 have questioned the correctness of that part of the Judgment and Order of the Debt Recovery Appellate Tribunal dated 14.10.2014 passed in Appeal No.206 of 2012 to the extent of setting aside the order dated 7.9.2011 passed by the Debt Recovery Tribunal-III, Mumbai in Securitization Application No.107 of 2011, thereby denying the restoration of possession of the suit property and for other consequential reliefs. The applicant in Civil Application No.2088 of 2016 is respondent No.2 in W.P. No. 5252 of 2015 and by the said application the applicant/respondent No.2 has prayed that, an action as contemplated under Section 340 of the Code of Civil Procedure may be initiated against the petitioners in Writ Petition No.5252 of 2015, for the offences under Section 177, 182, 193, 199 and 209 of the Indian Penal Code. Writ Petition No.54 of 2015 has been filed by the Bank, who is respondent No.1 in W.P. No.5252 of 2015,praying for an appropriate writ, order or directions to quash and set aside and to expunge that part of the impugned orders dated 7.9.2012 and 14.10.2014 passed by the Debt Recovery Tribunal-III, Mumbai and Debt Recovery Appellate Tribunal, Mumbai, respectively, holding that the petitioner bank had taken forcible possession of the secured assets and for quashing the findings and remarks made in Para Nos. 10 and 11 of the Judgment and Order dated 14.10.2014 passed by the Debt Recovery Appellate Tribunal, Mumbai.

(2.) Heard the learned counsel for the respective parties at length and also perused the entire record made available before us minutely and in pursuance of the directions issued by the Hon'ble Supreme Court of India dated 29.8.2016 in Special Leave to Appeal No.8484 of 2016, the petitions are taken up for final hearing.

(3.) For the sake of brevity, hereinafter, the property in question will be termed as "Suit property; the petitioners in Writ Petition No.5252 of 2015 will be termed as "Lessees"; the respondent No.1 in Writ Petition No.5252 of 2015 and petitioners in Writ Petition No.54 of 2015 will be termed as "Bank"; the respondent No.2 in Writ Petition No.5252 of 2015 and applicant in Civil Application No.2088 of 2016 and respondent No.4 in Writ Petition No.54 of 2015 will be termed as "Respondent No.2-Rajat Infrastructure"and the respondent Nos. 3 and 4 in Writ Petition No.5252 of 2015 and respondent Nos. 5 and 6 in Writ Petition No.54 of 2016 will be termed as "Respondent No.3 and 4 borrowers" in the following paragraphs.