Deutsche Bank A G v. United Trading Co & ORS.

$~119 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 15555/2024 & CM APPL. 65292/2024 DEUTSCHE BANK A G .....Petitioner Through:

Mr. Rahul Tyagi, Adv.

versus UNITED TRADING CO & ORS.

.....Respondent Through:

Respondent no.2 in person (Through VC)

CORAM:

HON'BLE MR. JUSTICE MANOJ JAIN

O R D E R

% 18.11.2024 1.

The issue raised in the present petition is very short and precise. 2.

The petitioner bank had submitted an application under Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

3.

The concerned Court, after going through the entire material placed before it, though allowed the application but appointed three different receivers to take physical possession of three different floors of the same property i.e. Property bearing no.C-107, New Rajinder Nagar, Delhi-110060. 4.

The grievance in the present petition is, merely, to the effect that the above said aspect of taking possession could have been easily achieved by one receiver as floors are situated in the same building and, therefore, by virtue of the order dated 07.10.2024, the bank has been put under unnecessary W.P.(C) 15555/2024 1 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 20/11/2024 at 12:36:57

financial burden.

5.

Respondent no.2 appears through Video Conferencing and states that he may be given some time to file reply in the matter. 6.

However, the relief in the present writ petition is restricted and constricted one.

7.

Obviously, since the size of the plot in question is, merely, 125 Sq. Yds. and even if there are different floors constructed over the above said property, it would not always and necessarily mean appointment of three different receivers for taking possession of all such different floors. To that extent, there is merit and substance in the present petition. 8.

The petition is accordingly disposed of with direction to the concerned Court of the learned ACMM to consider the above said aspect once again and to appoint only one receiver for the aforesaid purpose, instead of directing attachment through three different receivers. 9.

The petitioner bank shall appear before the concerned Court of learned ACMM on 20.11.2024.

10.

Copy of the order be given dasti under the signature of the Court Master.

MANOJ JAIN, J NOVEMBER 18, 2024 ns W.P.(C) 15555/2024 2 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 20/11/2024 at 12:36:57