Debts Recovery Tribunals and Appellate Tribunals
NAINI AUTO TECH, vs THE NAINITAL BANK LIMITED on 13 January 2025
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**ORDER-SHEET** Page No. ....
**DEBTS RECOVERY TRIBUNAL, DEHRADUN**
**R.A. No. 04 of 2024**
**M/s Naini Auto Tech & Ors. Vs. The Nainital Bank Ltd.**
**Date: 13.01.2025**
Item No.01
Present: Sh. Pulak Raj Mullick, Counsel for Applicants(through VC)
Called out, Ld. Counsel for the Applicants has appeared through VC.
It is admitted to the Ld. Counsel for the Applicants that if there is a mortgage of the property in any matter, the limitation for filing recovery petition is of 12 years and this Review Application has been filed by the applicants by saying that the petition is time barred as filed after three years. It is also admitted that the property was mortgaged and hypothecated in this case.
A huge amount of more than Rs.58.00Crores(Rupees Fifty Eight Crores approximately) is involved in this matter, if the pleas taken by the applicants, as defendants in the Original Application for recovery, the applicants are entitled to file appeal before Hon'ble Debts Recovery Appellate Tribunal under Section 20 of RDDB Act.
The applicants have filed delay condonation application in relation to order dated 04.09.2024 even though the award has been passed on 07.08.2024 and on 04.09.2024 the recovery certificate was issued.
Ld. Counsel for the Applicants has appeared on the date of hearing of the Original Application after hearing Ld. Counsel for the parties award has been passed on 07.08.2024. The application submitted by the applicants in relation to condonation of delay is also worthless and liable to be dismissed. Hence dismissed.
If the applicants/defendants are not satisfied with the judgment passed by this Tribunal in O.A. No. 316 of 2023, the Nainital Bank Limited Vs. Naini Auto Tech & Ors dated 07.08.2024, the applicants/defendants in Original Applications are entitled to file appeal before Hon'ble Debts Recovery Appellate Tribunal under Section 20 of RDDB Act.
In the light of above observations, the petition is dismissed in limine.
If applicants are not satisfied with this order may approach Hon'ble Debts Recovery Appellate Tribunal, Allahabad.
(Umesh Kumar Sharma) Presiding Officer DRT, Dehradun
13.01.2025