MANOJ KUMAR Vs. DEBTS RECOVERY TRIBUNAL

JUDGEMENT

(1.) Through the instant petition filed under Article 226 of the Constitution of India, the petitioner has prayed for issuance of a writ of certiorari for quashing the order dtd. 21/1/2019 (Annexure P-1) passed by respondent No.1-The Debts Recovery Tribunal (in short "the Tribunal") vide which Securitization Application (SA) No. 02-2019 filed by him had been dismissed being time barred.

(2.) A few facts necessary for adjudication of the present writ petition as mentioned therein may be noticed. The petitioner and respondent No.3 got incorporated a company and started doing their commercial business after obtaining financial assistance from respondent No.2. Respondent No.3 siphoned off the goods of the company and also squared off all the funds so sanctioned by respondent No.2. Therefore, the company could not repay the loan amount to respondent No.2. Accordingly, a notice dtd. 4/6/2018 under Sec. 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short "the SARFAESI Act") was issued to the petitioner and respondent No.3. The petitioner filed a civil suit on 24/9/2018 along with an application under Order 39 Rules 1 and 2 of the Code of Civil Procedure against respondents No.2 and 3. Thereafter, notice dtd. 12/11/2018 (Annexure P-2) was issued against the petitioner under Sec. 13(4) of the SARFAESI Act for taking possession of the mortgaged property. The trial Court vide order dtd. 4/1/2018 (Annexure P-3) dismissed the application for grant of stay filed by the petitioner. Against the order, Annexure P-3, the petitioner filed CR-357-2019 before this Court. This Court vide order dtd. 18/1/2019 (Annexure P-4) disposed of the said revision petition with liberty to the petitioner to avail off his remedy under the SARFAESI Act. Accordingly, the petitioner filed SA-2-2019 under Sec. 17 of the SARFAESI Act before the Tribunal. Since the SA was time barred, IA-47-2019 was filed for condonation of delay. The Tribunal vide order dtd. 21/1/2019 (Annexure P-1) dismissed the said IA and as such the SA was dismissed being time barred. Hence, the present writ petition.

(3.) We have heard learned counsel for the petitioner.