M/s Tajshree Enterprises v. IDFC First Bank Ltd. & Anr.

M/s Tajshree Enterprises

…Appellant

…Respondent

Case No: Misc. Appeal No. 116/2023

Date of Judgement: 21/09/2023

Judges:

Mr Justice Ashok Menon, Chairperson

For Appellant: Mohammed Qubbawala, Advocate.

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Facts:

Arguments by All Parties:

The Appellant contended that the D.R.T. ought to have examined the application of subsection 4A of Section 17, which was not done, rendering the impugned order inherently defective and requiring a stay. The Appellant argued that the firm was constituted on 04/04/2018, prior to the issuance of the demand notice, and the registration certificate showed the address of the firm as the secured asset. The Appellant claimed that there was an oral lease entrustment of the premises to the Appellant prior to the execution of the registered leave and license agreement on 10/06/2021.

Cases Cited:

None

Sections and Laws Referred:

  1. Section 13(13) of the SARFAESI Act
  2. Section 14 of the SARFAESI Act
  3. Section 17 of the SARFAESI Act
  4. Section 17(4A) of the SARFAESI Act
  5. Section 65A of the Transfer of Property Act, 1882