Debts Recovery Tribunals and Appellate Tribunals
Shri Bhavarlal Dharamchand Shah vs Gruh Finance Ltd & Ors. on 25 January 2023
**IN THE DEBTS RECOVERY TRIBUNAL-II AT AHMEDABAD
(Laxman Madnani, Presiding Officer)**
R.A.No.02 of 2017
Date of Filing : 19.04.2017
Date of Decision : 25.01.2023
**SHREE BHAVARLAL DHARAMCHAND SHAH**
.....APPLICANT
**VERSUS**
**BANDHAN BANK LTD.,
(ERSTWHILE GRUH FINANCE LTD.) & ORS.**
.....RESPONDENTS
**Appearance:**
None present for the Applicant
Ms.Maniti Oza, Ld. Proxy Counsel for Ms.Harshada Darji, Ld. Counsel appeared for the Respondent /Financial Institution.
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**ORDER**
1. 1. Today, this matter has come up for hearing.
2. 2. Applicant had filed the present Review Application with a prayer to quash and set aside the order dtd:16.03.2017 passed by this Tribunal in S.A.No. 40/2017 and prayed to allow the interim relief sought in the said S.A.No. 40/2017 and for other incidental reliefs.
3. 3. Ld. Counsel for the Respondent /Financial Institution has filed an affidavit Ex.R/11 submitting inter alia that the present Respondent, Bandhan Bank Ltd., has acquired erstwhile Gruh Finance Ltd., in compliance to the order dtd:18.09.2019 passed by Hon'ble NCLT, Ahmedabad Bench and order dtd:27.09.2019 passed by Hon'ble NCLT, Kolkata Bench for merger of Gruh Finance Ltd., into Bandhan Bank Ltd. The effective date of merger is 17.10.2019. Therefore, pursuant to the aforesaid merger, the rights, liabilities, responsibilities and assets of Gruh Finance Ltd., has been acquired by the present Respondent, Bandhan Bank Ltd.
4. 4. It is further submitted that during the pendency of S.A.No. 40/2017 preferred by the Applicant herein, physical possession of the property being Flat No.B/102, 1<sup>st</sup> Flr, New Harikrishna Apartment, Majura, Surat was taken by the Respondent/Financial Institution pursuant to the order dtd:02.01.2017 passed by Ld. Dist. Magistrate under Section 14 of the SARFAESI Act, 2002. Thereafter, sale notice was published on 20.11.2018 in 'Janadesh' English newspaper and 'Dhabkar' Gujarati newspaper, wherein the Respondent/ Financial Institution received joint bid from one Mr.Anil Ramjeevan Jhajhuka and Mrs.Sarita Anil Jhajhuka being Auction Purchasers. Accordingly, the sale was confirmed and sale certificate was issued in favour of the said Auction Purchasers and the same is also registered before the concerning Sub-Registrar Office. Copy of sale certificate is annexed along with affidavit filed at Ex.R/10.
2R.A.No.02 of 2017
1. 5. It is submitted that the Applicant has not challenged the auction proceedings initiated by the Respondent/Financial Institution in S.A.No. 40/2017 and in view of the fact that the property has already been sold, therefore the main Securitisation Application has become infructuous along with the connected Review Application No.02/2017.
2. 6. Perusal of the record reveals that this Tribunal has declined the interim relief vide order dtd: 16.03.2017 in S.A.No.40/2017, against which the Applicant had preferred the present Review Application No.02/2017 on 19.04.2017, which is pending before this Tribunal for adjudication. However, the present R.A No.02/2017 and connected S.A.No. 40/2017 have been repeatedly adjourned since 01.01.2019 for final hearing and the Applicant in both the connected matters has failed to appear before this Tribunal since such date.
3. 7. Case called several times. None appeared on behalf of the Applicant. It appears that Applicant is not interested in pursuing this matter.
4. 8. Considering the submissions made by the Ld. Counsel for the Respondent/Financial Institution and more particularly looking to the facts mentioned in the affidavit Ex.R/11 filed by the Respondent/Financial Institution, I deem it proper to dismiss the present Review Application for the want of prosecution. Interim reliefs, if any, granted by this Tribunal, is hereby vacated.
5. 9. Review Application is accordingly disposed of. Let the file be consigned to records.
**(LAXMAN MADNANI)** **PRESIDING OFFICER** **DRT-II, AHMEDABAD**