RAMBALI COLD STORAGE PRIVATE LTD THROUGH ITS DIREC Vs. CENTRAL BANK OF INDIA, BODHGAYA BRANCH THROUGH ITS

JUDGEMENT

(1.) Heard learned counsel for the petitioners as well as learned counsel for the respondents.

(2.) The present writ petition has been filed for quashing the order vide letter no. Br/Bodhgaya/17-18/28 dated 15.03.2018 (Annexure-2) issued by the respondent-Central Bank of India requiring the petitioners to vacate the premises by 15.03.2018 after which the Bank may put its lock on the said property on any day after 25.03.2018 without any further notice to them; and for connected reliefs.

(3.) The short facts, according to the petitioners, are that the petitioner no. 1 is a private limited company carrying on business of cold storage and petitioner no. 2 is its Managing Director. A term loan facility of Rs. 222 lakhs was sanctioned by the Bank on 17/18.07.2009 and the petitioners duly executed various loan/ security/guarantee documents. Further cash credit facility of Rs. 125 lakhs was sanctioned on 20.02.2010 for which the requisite documents were also executed. The account of the petitioners was declared as NPA on 28.01.2012. The Bank preferred O.A. No. 260 of 2017 which was disposed of by the Debts Recovery Tribunal, Patna (the "DRT") by its judgment dated 27.02.2018, determining the debt with costs and charges, pursuant to which a recovery certificate for Rs. 6,37, 50, 294/- was issued by the DRT the same day, namely, 27.02.2018. The parties were directed to appear before the DRT on 30.04.2018.