IFCI LTD Vs. SATYATEJ MERCANTILE PVT. LTD

JUDGEMENT

(1.) Appellant-Defendant has moved application (I.A.No.1/2022), stating inter alia that appellant-IFCI Limited is a Government of India undertaking and Public Financial Institution, which has preferred this first appeal, assailing the judgment and decree dtd. 12/2/2019, whereby and whereunder suit for payment of Rs.18.00 lakhs and Rs.50,000.00 per month continuously, as rent and warehousing charges, has been decreed against the appellant, on account of non-removal of 24 looms from the property of Modern Syntax (India) Limited, which was put in public auction under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, for which respondent-plaintiff stood highest bidder and therefore, after finalizing his bid, sale deed dtd. 20/11/2009 has been executed in favour of plaintiff. It has been stated that in execution of the impugned decree, respondent-decree holder has already recovered amount of Rs.68,58,555.00 on 20/9/2019 and thereafter, again bank account of appellant has been attached for an amount of Rs.21,24,000.00 vide order dtd. 10/10/2022 in execution proceedings by the Court of Additional District Judge No.1, Alwar, therefore, there is urgency in the matter and it has been prayed that since first appeal is delayed by 57 days, so an application (CMCC 1367/2019) under Sec. 5 of the Limitation Act, 1963 (hereinafter referred as 'the Act of 1963') has also been filed. Hence in such circumstances matter may be heard earliest.

(2.) For reasons mentioned in the application, supported with the order-sheet of the Court of Additional District Judge No.1, Alwar, dtd. 10/10/2022, in respect of attachment of bank account of the appellant, the application for early hearing (I.A.No.1/2022), is allowed.

(3.) With consent of learned counsel for both parties, heard on the application (CMCC 1367/2019), filed under Sec. 5 of the Act of 1963, seeking condonation of delay in filing first appeal.