G.K.Steel & Allied Industries v. The Appellate Authority,

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 12/7/2017 C O R A M The Honourable Mr.JUSTICE S. MANIKUMAR and The Honourable Mrs.JUSTICE V. BHAVANI SUBBAROYAN Writ Petition No.15190 of 2017 G.K.Steel & Allied Industries Ltd rep. by its Director K.Narayanasamy.

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Petitioner Vs

1. The Appellate Authority Debt Recovery Appellate Tribunal Chennai.

2. Industrial Development Bank of India rep. by its Managing Director A statutory establishment under the Industrial Development Bank of India Act, 1964 having its Head Office at Cuffe Parade Mumbai 400 005.

and having its Branch Office at No.115 Anna Salai Saidapet Chennai 600 015.

3. Industrial Finance Corporation of India Ltd rep. by its Managing Director a Public Limited Company within the meaning of Companies Act, 1956 Having its registered office at Bank of Baroda Building No.16 Sansad Marg New Delhi 110 001 and having its Branch Office at No.142 Nungambakkam High Road Chennai 600 034.

4. International Asset Reconstruction Company Private Limited (IARC Pvt Ltd) rep. by its Managing Director Having one of its office at No.2B, 2nd Floor K.G.Retreat, G.N.Chetty Road T.Nagar Chennai 600 017.

5. ICICI Bank Limited rep. by its Zonal Manager Having registered office at No.162 Backbay Reclamation Mumbai 400 020 and Zonal Office at No.1 Cenotoph Road Chennai 600 018.

6. Standard Chartered Bank rep. by its Branch Manager No.19, Rajaji Salai 5th Floor Chennai 600 001.

7. G. Kandasamy

8. K. Venkatesh

9. G.K.Steels (Coimbatore) Limited rep. by its Director No.364 Bharathiyar Road Coimbatore 641 044.

10. State Bank of India rep. by Senior Manager C & I, ADV Coimbatore 641 018.

11. State Bank of Mysore rep. by Branch Manager P.B.No.80 146/147 Raja Street Coimbatore 641 001.

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Respondents Writ Petition filed under Article 226 of Constitution of India, to issue a Writs of mandamus, directing the first respondent to consider and dispose of the appeal filed by the petitioner in M.A.No.44 of 2014, pending on the file fo Debt Recovery Appellate Tribunal, Chennai, on merits and in accordance with law.

For Petitioner : Mr.Mr.Veera Kathiravan, Senior Counsel for M/s. Veera Associates For Respondents: R.1 - Tribunal for R.R.2 and 9 - Service awaited.

Mr.P.Raghunathan for M/s. T.S.Gopalan & Co for R.3.

Mr.V.V.Sivakumar for R.4.

No appearance for R.R.5, 6, 8, 10 and 11 R - 7 - Died

O R D E R

(Order of the Court was made by S.Manikumar,J) Contending inter lia that M.A.No.44 of 2014, is pending on the file of this Court for quite some time, the borrower, has sought for a writ of mandamus, directing the Debts Recovery Appellate Tribunal, Chennai, to dispose of the same.

2. Material on record discloses that initially, O.A.No.910 of 1998 has been filed, by three consortium Banks, for recovery of Rs.12,60,85,270/-.

Subsequently, after bifurcation, O.A.No.910 of 1998 has been transferred to the Debts Recovery Tribunal - II, Chennai and renumbered as O.A.No.121 of 2007. Subsequently, one of the consortium Banks has assigned the loan, to and in favour of International Asset Reconstruction Company Private Limited. On 29/11/2013, substitution has been ordered,

3. Being aggrieved by the same, the borrower has filed M.A.No.44 of 2014. Contending inter alia that the said M.A has not been disposed of, for quite some time, the borrower has sought for a writ of mandamus, directing the Debts Recovery Appellate Tribunal, Chennai, to pass orders, within a time frame, fixed by this Court.

4. Mr.P.Raghunathan for M/s.T.S.Gopalan & Co for the third respondent and Mr.V.V.Sivakumaar, learned counsel appearing for the fourth respondent, have no objection for the early disposal of M.A.No.44 of 2014, subject to the Debts Recovery Appellate Tribunal, considering the issue of pre-deposit/waiver.

5. Respondent Nos.5, 6, 8, 10 and 11 have been served and their names are shown in the cause list.

6. Learned counsel for the petitioner submitted that for quite some time, there was no Hon'ble Presiding Officer, and

therefore, appeals could not be taken up. He further submitted that as per the order of seniority and importance, appeals are being taken up. Submission is placed on record.

7. O.A has been filed in the year 1998 and 19 years have gone. Considering the time consumed, we request the Hon'ble Presiding Officer, Debts Recovery Appellate Tribunal, Chennai, to take up M.A.No.44 of 2014, and pass orders, on merits and in accordance with law, as expeditiously as possible. Parties to the lis shall also render their co-operation.

8. With the above direction, this writ petition is disposed of. No costs. Consequently, the connected Miscellaneous Petition No.16461 of 2017, is closed.

Sd/- Asst.Registrar (CS V ) /true copy/ Sub Asst. Registrar To

1. The Registrar, Debt Recovery Appellate Tribunal, Chennai.

+1cc to M/s.A.Mohamed Ismail,Advocate sr.48911 +1cc to Mr.V.V.Sivakumar,Advocate sr.48945 Writ Petition No.15190 of 2017 nm(co) ss(21/7/2017)