Hotel Mid Town v. Punjab National Bank & Anr.

Hotel Mid Town

…Appellant

…Respondent

Case No: Misc. Appeal No. 33/2023

Date of Judgement: 15/06/2023

Judges:

Mr Justice Ashok Menon, Chairperson

For Appellant: Mr Nirav R. Parikh along with Ms Mumtaz Khan, Advocate.

For Respondent: Mr. O.A. Das along with Ms. Pallavi Chari, Advocate.

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Facts:

Arguments by the Parties:

Sections and Laws Referred:

Recovery of Debts and Bankruptcy Act, 1993 (RDB Act)

    • Section 20 (Appeal to the Appellate Tribunal)

Transfer of Property Act, 1882

    • Section 53 (Transfer of Property undervalued for consideration)
    • Section 60 (Right of Redemption)

    • Section 13(2) (Notice of Demand)
    • Section 13(4) (Enforcement of Security Interest)

    • Income Tax Act

      • Section 281 (Transfer of property to be void in certain cases)
      • Rule 11 of the Second Schedule (Procedure in making and canceling attachment and investigation of claims)

    Cases Cited:

    Tax Recovery Officer II, Sadar, Nagpur vs. Gangadhar Vishwanath Ranade (1998) 6 SCC 658

    Prestige Light Ltd. vs. State Bank of India (2007) 8 SCC 449