MR VIRENDRASINH LABHUBHAI CHAVDA vs INDIAN BANK on 18 September 2024

Exh-12

**Debts Recovery Tribunal – II, Ahmedabad.**

<table border="1"> <tr> <td data-bbox="165 70 365 100"></td> <td data-bbox="365 70 885 100" style="text-align: right;">Item No.88<br/>M.A.No.43 of 2022</td> </tr> <tr> <td data-bbox="165 100 365 145" style="vertical-align: top;">18.09.2024</td> <td data-bbox="365 100 885 145" style="text-align: center;"> <b>MR.VIRENDRASINH LABHUBHAI CHAVDA</b><br/> <b>Vs.</b><br/> <b>INDIAN BANK,</b> </td> </tr> <tr> <td data-bbox="165 145 365 945" style="vertical-align: top;"><b>PRESENT</b></td> <td data-bbox="365 145 885 945"> <p>Mr.Sandeep Solanki, ld. Counsel for Applicant.</p> <p>Mr.Ritesh Patadia, ld. Counsel for Respondent.</p> <p>Purshis Ex.A/11 filed by the Applicant is taken on record.</p> <p>Heard and perused.</p> <p>It has been submitted by ld. Counsel for Applicant that the Applicant, being successful Auction Purchaser to the auction conducted by the Respondent on 07.03.2020, who has been declared as higher bidder and sale has been confirmed in his favour, who has also paid the entire bid amount as per Security Interest (Enforcement) Rules, 2002, had filed the present MA, before this Tribunal, for necessary directions against the Respondent Bank for non-compliance of judgment dated 18.02.2022 passed by this Tribunal in S.A. No.118/2020 for refund of bid amount deposited by the Applicant with interest @9% per annum within two weeks from the date of order.</p> <p>He further submitted that during the pendency of present MA, Respondent bank had approached the Hon'ble DRAT, Mumbai by way of Appeal No.63/2022 against the judgment dated 18.02.2022 passed by this Tribunal in S.A. No. 118/2020, wherein the auction notice dated 15.02.2020 and consequent sale of secured asset conducted on 07.03.2020 as well as sale certificate issued in favour of the Auction Purchaser was set aside. Accordingly, vide order dated 04.09.2024 in the said Appeal No.63/2022 was allowed by the Hon'ble Appellate Tribunal by quashing and setting aside the judgment dated 18.02.2022.</p> <p>As such, in view of the said order dated 04.09.2024 passed by the Hon'ble Appellate Tribunal, it is submitted that since the Respondent is required to handover the possession of the disputed property in favour of the Applicant, hence, no cause of action survives to Applicant to continue with the present MA and that it may be disposed-off accordingly with liberty to file fresh SA, if need arise in future.</p> <p>On the other hand, ld. Counsel for Respondent submitted that he has no objection, if appropriate order is passed on withdrawal purshis Ex.A/11 so filed by the Applicant.</p> <p>In view of the above submissions of ld. Counsel for both the parties and the fact that the Hon'ble Appellate Tribunal has allowed the Appeal No.63/2022 filed by the Respondent Bank against the judgment dated 18.02.2022 passed by this Tribunal in S.A. No. 118/2020, setting it aside, as the Applicant do not want to prosecute the above MA, the present MA(Diary No.2331/2022), deserves to be dismissed and disposed-off accordingly, with no order as to cost.</p> <p>All the pending IAs, if any, deserves to be disposed-off accordingly.</p> <p><i>Order accordingly.</i></p> <p>File be consigned to records.</p> </td> </tr> </table>

**(ANIL KUMAR GUPTA)** **PRESIDING OFFICER, I/c.** **DRT-II, AHMEDABAD** **18.09.2024**