HARSHBIR SINGH PANNU Vs. UNION OF INDIA

JUDGEMENT

(1.) Prayer in this writ petition is for quashing order dtd. 17/10/2023, Annexure P-13 and order dtd. 2/12/2023, Annexure P-19, passed in Securitization Application (SA) No. 207/2023 and Review Application (RA) No. 10/2023 by the learned Debts Recovery Tribunal-I, Chandigarh.

(2.) Learned counsel for petitioner stated that petitioner no. 1 is a highly qualified cardiac surgeon, who set up a hospital in the name and style of 'Holy Heart Hospital' at Amritsar besides Implants Pharmacy under the name and Style of 'M/s Amritsar Cardiac and Implants Pharmacy'. Credit facility in the form of Cash Credit Limit (CCL) to the tune of Rs.50.00 Lakhs was availed of by petitioner no. 1 from respondent-Bank. Implants, medical equipments, and medicines of approximately Rs.1.50 Crores were hypothecated for securing the CCL, which was being regularly serviced by petitioner no. 1 as per mutually agreed terms and conditions. Some dispute arose between the lessor of property on which the hospital has been constructed and petitioner no.1. The lessor (not a party to the present petition), it is stated took over forcible possession of the OPD area of hospital on 20.02.20020 with the help of 50-60 unscrupulous elements (goons). Subsequently on 6/3/2020, the lessor again came to the premises of the hospital and took over possession of rest of the hospital building as well along with medical equipment etc., and put his locks on the entire hospital building including the main gate of the hospital. Complaint was lodged by petitioner no.1 with police authorities, but no FIR was registered. Account of petitioner no.1 was declared NPA on 11/8/2020 statedly without adhering to prescribed norms and guidelines set-forth by the RBI. No intimation in this regard was ever given to petitioner no.1, who came to know about this fact only when he visited the branch of respondent-Bank on 29/8/2020. Overdue amount of Rs.1.5 Lakhs was immediately deposited by petitioner no.1 on the asking of bank officials. Thus, no occasion arose for continuing the petitioners account as NPA. It is stated in the writ petition that petitioners apprised the bank officials vide e-mail dtd. 31/8/2020 about the whole position as well as deposit of entire overdue amount on directions of bank officials. However, petitioners account was not regularized and on 30/5/2023, petitioners were shocked to receive a message to the effect that 'account of petitioner no.1 was credited with a sum of Rs.19.40 lakhs'. Petitioners shot of e-mail dtd. 30/5/2023 to the bank seeking details about source of the amount, but to no avail. Details were sought under Right to Information Act (RTI) 2005, by petitioners on 3/6/2023, but no information was provided. Subsequently, petitioners received a caveat petition on 10/6/2023 on behalf of respondents no.2 and 3, who claimed to have purchased the mortgaged property on 24/5/2023. RTI application submitted by petitioners was rejected by respondent no.3 on a flimsy ground on 17/6/2023 (stated to be received on 24/6/2023) on the pernicious ground that Adhar Card was not attached. Request, under RTI was again submitted by petitioners. As the details were not being furnished, petitioners approached the office of District Magistrate, Solan, where they came to know that an application under Sec. 14 of SARFAESI Act has been filed by respondent no.3.

(3.) Learned counsel for petitioners submitted that absolutely false and incorrect facts about service of notice under Sec. 13(2) and 13(4) of SARFAESI Act are mentioned in this application. No such notice was ever received by petitioners. Property in question, it is stated was sold at a throwaway price by respondent no.3. The subject property is not only a chunk of land, but an upscale building comprising 7 flats having all modern day facilities having a value of approximately Rs.3,44,19,000.00, whereas it has been sold at a meagre amount of 1.28/- Crores. Even as per Bank's own valuation, the amount is Rs.1,62,64,000.00, whereas reserved price for eauction was fixed as Rs.1.26 Crores, which shows mala fide intention on the part of respondent-Bank. Petitioners, it is submitted filed CWP No. 4612 of 2023 before High Court of Himachal Pradesh. Said writ petition was permitted to be withdrawn on 26/7/2023 with liberty to petitioners to avail their alternate remedy while observing that time spent in the said litigation with effect from the date of filing and up-till date of decision would not come in the way of petitioners, in case, they chose to avail of alternate remedy within a period of 15 days from 26/7/2023.