J. M. Financial Asset Reconstruction Company Ltd & Anr. v. M/s Veer Aluminium Industries Pvt. Ltd

…Appellant

M/s Veer Aluminium Industries Pvt. Ltd

…Respondent

Case No: Transfer Petition No. 05/2022

Date of Judgement: 20/07/2023

Judges:

Mr Justice Ashok Menon, Chairperson

For Respondent: Mr S.V. Adwant, i/b Ms Sanjana Goghare, Advocate.

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Facts:

Arguments by Appellants (Transfer Petitioners):

Arguments by Respondents:

The Respondents argued that the allegations against the Ld. Presiding Officer are unsustainable, and the Appellants cannot be granted the freedom of forum hunting. They submitted that the O.A. is of the year 2013 and has become ripe for trial, and just because the transfer of the S.A. is sought, the O.A. need not be transferred. They relied on various precedents to argue that the transfer of a case should be granted only in extraordinary situations or for compelling reasons, and not on trivial issues. They argued that the Presiding Officers and Judges should be able to discharge their duties without fear or favor, and wild allegations of bias or false implications will have a negative impact on the independence of the judiciary.

Cases Cited:

Satish Jaggi vs. State of Chhattisgarh (2007) 3 SCC 62

Vikram Singh Raghubanshi vs. State of Uttar Pradesh (2011) 7 SCC 776

O.P. Sharma vs. High Court of Punjab and Haryana (2011) 6 SCC 86

Sections and Laws Referred:

Section 17-A(2) of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act)

Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002)