SANMAN COLD STORAGE Vs. JAMMU KASHMIR BANK

JUDGEMENT

(1.) The appellant has filed this present appeal being aggrieved by the order darted 22/6/2005 passed by 13th Additional District Judge, Indore in Civil Suit No.22-A/5 dismissing the plaintiff's suit on the ground that jurisdiction of the civil court is barred under Sec. 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred as 'Act, 2002').

(2.) Brief facts of the case are that appellant purchased the agricultural land situated at Lasudiya Mori, Tehsil and District- Indore survey Nos.27/2 area 0.808 hectare, 7.1 area 0.530 hectare, survey No.27/4 area 558 hectare and 20/8 area 405 hectare and respondent No.1 granted financial assistance to the appellant against the mortgaged of the aforesaid agricultural land and due to financial crisis appellant could not repay the loan amount and their loan amount became irregular and subsequently declared NPA.

(3.) Respondent No.1 issued notice under Sec. 13(2) of the Act, 2002 for repayment of loan. Appellant sent reply to the aforesaid notice and submitted the compromise proposal under OTS scheme announced by the Reserve Bank of India. Meanwhile, respondent filed an application before Debt Recovery Tribunal (DRT) and appellant filed a writ petition under Article 226 of the Constitution of India i.e. W.P. No.768/2003 assailing the illegality and validity of the notice issued by the respondent No.1, which was dismissed by the High Court. Being aggrieved by the order dtd. 26/8/2003 passed in W.P. No.768/2003, appellant preferred an appeal i.e. Writ Appeal No.182/2003 before the Division Bench of this High Court which was also disposed by this High Court in light of the verdict of the Apex Court in the case of Mardia Chemicals Ltd. etc. Vs. Union of India and others, 2004 (4) SCC 311.