AASTHA TRADING COMPANY Vs. STATE OF PUNJAB

JUDGEMENT

(1.) THIS judgment will dispose of 3 writ petitions, bearing CWPs Nos. 16657 of 2005, 310 of 2007 and 13848 of 2007 since common questions of law and fact are involved therein.

(2.) THE petitioner is an auction purchaser of mortgaged property of the respondents No. 4 and 5 which was sold by respondent No. 7 under the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest, Act, 2002 (hereinafter referred as the 2002 Act) for a consideration of Rs. 4.00 crores. Subsequently, it transpired that various other agencies were seeking to claim amounts due to them from the aforesaid respondents No. 4 and 5 by enforcing their respective charge/s against the same property. In CWP No. 16657 of 2005, the claims relate to arrears of workmen's dues respondent No. 6. The Director of Industries and Commerce, Punjab was impleaded through its application as respondent No. 8 vide order dated 7.8.1986. The said respondent claimed that respondent No. 4 also owed certain amounts to it and that respondent No. 7. Bank should pay the amount of Rs. 4,55,000/- due to it for a separate loan raised by respondent No. 4. Similarly, the Taxation Department was also impleaded as respondent No. 9 on its application vide order dated. 11.5.2007 and claimed that an amount of Rs. 87 lakhs was due to it as arrears of sales tax and it had the first right to recover the said amount as arrears of land revenue. The petitioner has challenged the notice issued by respondents No. 1 and 2 to auction a portion of the property purchased by it from respondent No. 7, for realization of the dues of the workmen, the Industries Department and the Taxation Department.

(3.) IN CWP 13848 of 2007, the petitioner has challenged the order of the respondents No. 1 and 2 whereby they have refused to register the sale made by respondent No. 3 (the Bank which was respondent No. 7 in the earlier two petitions) in favour of the petitioner.