Debts Recovery Tribunals and Appellate Tribunals
MS KRISHNA FOODS vs STATE BANK OF INDIA on 8 September 2026
Court of the Presiding Officer
Debts Recovery Tribunal, Jaipur
cm
Item No. 31
Case No.MA/223/2022 IN OA/161/2016
MS KRISHNA FOODS Vs STATE BANK OF INDIA
Date: 08.09.2026.
Proceedings through hybrid mode
Present:
Shri R K Salecha, Counsel for the Applicant Ms. Saloni Agarwal, Counsel for the Respondent Bank/FI
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1. Heard arguments.
2. Counsel for the applicant submits that they are the third party objectors before the Recovery Officer. He draws my attention to the orders passed by the Recovery Officer, wherein according to the applicant, he has observed that the Recovery Officer is bound by the final order and observation made therein.
3. Therefore, when the Tribunal held said property as mortgaged, he cannot go beyond it. The final order and Recovery Certificate are sacrosanct and Recovery Officer cannot go beyond that on any objections filed by the CDs.
4. But, at the same time, if any third party objectors comes then as per Rule 11, Income Tax Procedure Rules, he is duty bound and under obligation to make the investigation on the claim made by the third party objectors, without looking into the fact that the said property has been declared as mortgaged property or not under the Final Order and Recovery Certificate.
5. With the consent of both the parties, the order dated 07.10.2022 is hereby set aside to the extent that “he cannot go beyond final order and Recovery Certificate”. He is hereby directed to look into the objections made as per Rule 11, Income Tax Procedure Act and shall come to the conclusion without being influenced by the recovery certificate issued in respect of the said property.
6. The compliance shall be made within six months from today. Copy of the order be sent to Recovery Officer. It is directed that Court of the Presiding Officer cm without deciding the objections, RO will not proceed against this property. However he must expedite and takes steps for attachment of other property/assets, so that recovery of the bank is not hindered.
7. Bank is also directed to file details of the assets of the CDs available with them for attachment.
8. Accordingly, MA stands disposed of, all pending IAs also stands disposed off, if any.
9. File be consigned to record as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer