Debts Recovery Tribunals and Appellate Tribunals
M S CHATAR EXTRACTIONS LTD vs STATE BANK OF PATIALA on 17 May 2021
DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
MA 13/2021
In
OA No.576/2000
M S CHATAR EXTRACTIONS LTD VS. STATE BANK OF
PATIALA
17.05.2021
Item No.1(Supl)
Present:
Adv. Atul Sharma, Counsel for the Applicant.
Adv. Rakesh Gupta, Counsel for the resp. Bank.
(Matter heard through VC)
This MA is filed by the applicant praying for following relief:- Withdraw/especially nullify the attachment order passed by the office of the Ld. Recovery Officer dated 14.01.2014.
Ld. Counsel for the MA applicant argued that an OA
No.576/2000 was filed by the respondent bank for recovery of outstanding amount and finally the case was decreed in favour of the bank for an amount of Rs.50361950/- and Recovery Certificate was issued.
Ld. Counsel further referred “No Dues Certificate” dated 04.07.2019 issued by respondent bank as account stands settled and nothing remains due, on account of settlement of account for an amount of Rs.1 crore only.
So, Ld. Counsel for the applicant prays for an order of de- attachment of two properties details of which are mentioned in Para-A of the MA as well as, mentioned in “Order of Attachment”
dated 10.02.2010 issued by the then Ld. Recovery Officer of DRT-II, Chandigarh.
Ld. Counsel for the non-applicant bank submitted that there is no such provision which provides powers to pass such orders of de-attachment & so he objected the prayer of the MA
applicant.
Perused the record and heard arguments.
I am of the considered view, that the bank issued NOC on 04.07.2019 specifically mentioning therein, that “Now there is no dues against guarantor in respect of captioned loan account” and the order of attachment of the subjected property in question issued by Ld. Recovery Officer was also required to be quashed.
DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
Accordingly following order is passed:-
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1. The order of attachment of property at House No.1142, Street No.A, Abhor District, Ferozepur, Punjab dated 10.01.2010 issued by Recovery Officer-II, Debts Recovery Tribunal-II, Chandigarh stands quashed as nothing is to be recovered and account is settled.
2. Further Revenue Authorities are hereby directed to remove the endorsement of attachment, passed in the light of order of attachment dated 10.01.2010 as discussed in Para-1, above.
3. Recovery Certificate issued in OA No.576/2000 stands cancelled. With these observations MA stands disposed of as allowed. Copy of this order be given to both the parties through ‘dasti’ and thereafter file be consigned to record room.
(Vivek Saxena) Presiding Officer DRT, Jaipur (Additional Charge DRT-I, Chandigarh) RJ