Court No. - 36
Case :- WRIT - C No. - 19931 of 2019 Petitioner :- M/S Shyam Medicos And Another Respondent :- The Authorized Officer And Another Counsel for Petitioner :- Vindhya Vashini Prasad Rai Counsel for Respondent :- Satish Chaturvedi
Hon'ble Ajay Bhanot,J.
The liability of the petitioners to pay loan amount was affirmed by the Debt Recovery Appellate Tribunal by judgement and order dated 26.10.2018. Consequential to the order passed by the Debt Recovery Appellate Tribunal, the auction proceedings have been initiated by publishing an auction notice dated 25.04.2019.
The petitioner has assailed the order dated 26.10.2018 and the auction notice dated 25.04.2019 in the instant writ petition.
Learned counsel for the respondent Bank on the basis of instructions submits that even after the order was passed by the appellate tribunal on 26.10.2018 an One Time Settlement Scheme was entered into between the petitioners and the respondent Bank. The petitioners defaulted on the terms of One Time Settlement Scheme.
Admittedly, the petitioners have repeatedly defaulted in the payment of the loan amount. The One Time Settlement agreement which was entered into was also dishonoured by the petitioners. No illegality in the order passed by the Debt Recovery Appellate Tribunal has been pointed out. The delay in approaching this Court against the order passed by the Debt Recovery Appellate Tribunal has not been satisfactorily explained.
In such view of the matter, the writ petition lacks merit. The writ petition is dismissed.
Order Date :- 7.6.2019 Dhananjai