← Library
High Court of Punjab and HaryanaCAPP/22/2014allowed

Idbi Trusteeship Services Ltd. v. M/S Chattar Industries Ltd. And ORS.

2015-05-19Mr. Justice A.B. Chaudhari,Mr. Justice M.M. Aggarwal9 pages



    

 



!"#$% &!!'( )%&*+ ,# -.(&!!(* /!-0'!(1&2 

0!-(.( +3(*&&- 2.(&-!(1&2 2&*!-(  !( &(

CORAM:

HON'BLE MR. JUSTICE S.J.VAZIFDAR, ACTING CHIEF JUSTICE. HON'BLE MR. JUSTICE G.S.SANDHAWALIA.

 4*!&*!- -&!-("'"

!-(  5!""6!2&(!!&*!7.28 &9 4*!&*!-&5!-!!--!2&&*! -&!-(- &9 :4*!&*!-&*!7.28 &(*."25!-!

-&!2 &*!8!(&9 -!(!

&) +-/ (-'*,20'&!,-&*!

& +-&  ,20'&!--!( &; 1 +-+ (* ,20'&!,--!( &( 2: +-< "/!*8",20'&!,--!( & ==== S.J.VAZIFDAR, ACTING CHIEF JUSTICE *((

!"8 (&&*!-2!- 27.28 &&*!"!- !2 

.28!-!7!'& 8&*!

&>(

"'& &5!&-!&!2(-(& '*-8! *"2!-3(!'.-!2 '-!2&- ((. 6&* -!( & ; 2.(&-" !0!"

?   2, :; 2.(&-"



- -&    2 1&2 2 -!( & ;- 

'" - -& *!"!- !2.28!2( ((!2&*!

"'&  &*!8-.

2&*& &*!

&>( '*-8! *2 & 5!!

 -!8(&!-!2 .

2!- (!'&  #  &*! 

!('&,%#@A-(*-&B&*!'&>C 

-&*! .- (!&*(

!",6!6"" -'!!2 &*!5((&*&  &*!!0!

&'*-8! &5! 8-!8(&!-!2.

2!-(!'& #&*!'&,& 6."25!028 (&&*!"D.2&- 2&*!-'-!2&-(4!*0!' !& &*!' '".( &*&&*!

&>('*-8!6( '&-!8(&!-!2.

2!-(!'& #&*!'& : *!

&;-.(&!!(* /!-0'!(1&2(-!!--!2& &*! -'!!2 8( 2   &*! 

.8 !2 -2!- ( /1 *!

& ( 

 !5!

&.-!-.(&!!6*'*&*!5!

!'-!(-!.- & "E!2 (.-

!(,

!" ,1! (.- '!- -&  2F!

!-" (.- - -&  2F!6 2((.- '!1&2 2 -!

&" (.- 

 1&2  -.(&!! 8-!!

& 2&!2 :%%# 6( !

&!-!2  & 5!&6!!

 &*! -(& -!( & 6*'* (  '

   "D.2& 2 & ; *!

& ( &*! (.''!((-; ; &!-!(&  &!-;" &&*!5!

!&&*!&-.(&!!8-!!

&

-!

&" , 0!6(!'& :  &*! / A!5!

&.-! -.(&!!(C A &C !8."& (, , &6( -*5&!2- '& 8(-.(&!!( 2&*!!5!

&.-! &-.(&!! 5.( !((  -!( &  6(, &*!-!-!, &- (!--!2 & &*!

& 

2!- &*! -.(&!!( 8-!!

&, -!( &  8-!!2 & (.5('-5! & G#H (!'.-!2 -!2!!

5"! ;' 0!-&5"! 2!5!

&.-!(  & 88-!8&!  "0".!"'(-&'"!; &*!8-!!

&-!2((.

2!-);  

 



     



 

        

      

    







 

   

    

    

       

  

 

 

  



      

 

      !  

 

   

  



       "



#

      





 



   $     %    

   &#

  

 #

  



  

  



       

               



 



 #          



 

!   

  

 #   

            %        



  ' (   "'(

     

) *+,*,- !    

) *.+ *  /   &#

/"/&/

        

) *0-- !     

) *0-- !      

) *.-- !   (

   

) *+-- *

    #   

   #  

    

 

 

       

   

    

  

* 

  

 

/

        

      

   

        

                   

         

      

 

     

     

 

  

              

     * 

  





 

 

            

     #     

  

    

  

    

           #    #    



 

  

       



  

   

    

  

 * 

  



     

           

  



    





 

     

  

          

    

        

 *2 # & ( 

-& & & &! &6 "!&&!-( 22-!((!2 5  -!( ( 2  &*& -!'!2!2 &*( 8-!!

& !( & ;-



'" - -&  *2 5   "!&&!- 2&!2 G$%% 22-!((!2 & &  (&&!2 &*& &*!  *2  57!'&    -!( &  !- 8 - ((. '*-8! & &*! (2 .-  (.- '! '

!( ! 5!

!'-!(&*!&-.(&&(!'.-!&*!(22!5! &.-!("'((.57!'& &-!( &5&  8( "-B 57!'& !-&'&!>- "" &*!!I(& 8 -&' & 8

'" (&&.& ( !( &5 "!&&!- 2&!2G#%%#(&&!2&*&&*! *2 57!'& &&*!-(&-!( &>(

- (" - '-!&   ((. '*-8!   0.-  &*! .-  (.-

!(   -!( !'&  2!5!

&.-!(   88-!8&! 0".!    "'( 50.(" , &*!-!&!- &*! -- 8!

& 6( !

&!-!2  & 5!&6!!

 &*!

2 -!( &  (  2!5!

&.-! &-.(&!!   5!*"  .-  (.- '!'

!( :%%# 

!( & :;  'D.-!2  '*-8!   -!( !'&  &*!

- !-&  &*! !-%%@(&*2'D.-!2&*!'*-8!(.5(!D.! &" ,&*!-! 6( D.!(&  ;-!( &:8-!! 8&&*!'-!& 

((.'*-8! 0.--!( &

 @ *!-! (, &*!-!-!,  2.5& 6*&(!0!- 2  2!!2 & ( 0-&.""  2 &&!2 &*& &*!

&>( 2.!( -! (!'.-!2 ( -!(2 *!

&( 2.!( -! "( 2 &&!2 *!  "  ' &!

&    5!*"  &*! &( ( &*& &*! '*-8!   0.-  &*!

& *2 & 5!!

-!8(&!-!2.

2!-(!'& #&*!'& $ *(('.-.( 2 .

-' &!

& &"!(& (-( &*!-!( &(-!' '!- !2(6! &!2!-"!--!( &( 2: !I -!(("  8-!!2 & &*!

& 5! 8 8- &!2  ((. '*-8! +-!0!-,&*! !02!

'! 6*'* 6! 6""(*-&"  -!!- & !(&5"(*!(5!  2 2.5&&*&&*!'*-8!6( '&'-!&!2(6! &!2!-"!-,&*!

(&*!(.''!((-; ; &!-!(&&*!5!

!&&*!&-.(&!!8-!!

.-(.

&& 6*'*&*!'*-8!6('-!&!2*!'*-8!6(-8 "" '-!&!2 0.- &   ! &*!

&>( -!2!'!((-; ; &!-!(& !(  2  2!!2 -!( &  ! &*! -&88-, &*!-!-!, *0!

!-( "?

6"!28!&*!'&(&*!'(! !( &( 2*0! -50.(-!( ("!2&2('"(!&*! &!-" -&'."-(&*!'*-8!

2&*!-!8(&-& &*!-!"&*.8*&*! 5! 8&*!-8 " -&!(&&*! &-.(&!!8-!!

&*0!?

6"!28!""&*!'&( 2D.&! ((5" -!

((!((   &*! -8 " -!'-2 -&.

&!" , !0!

 &*! " &!2 -!'-2 0"5"!!(&5"(*!(&*!-!8(&-& &*!'*-8! 2&*!-!5 !

5"!( .(& 27.(&'! G  * &*!'&  8-!!

& 6( "( !I!'.&!2   :%%# !&*!2  6*'*&*!&-.(&!!>(8-!!

&6(!I!'.&!2 - ( 2: *2 50.("  5!!

 "!2 *! ( ! ( !02!

'!2 5   -!'! & 2&!2 %%# ((.!2 5  &*! J!

-& &  

 -(, !8(&--  

!( (* .

&!- -!'! &, '!  &*! !8(&--  

!(K '?

6"!28 8-!'! &(.

:3; -!( !'&&*!(2 - (



2: - ;,*6!0!-,(""!8!2"  &&-'!5"! &*!-!'-2(&*! -(&;-!( & '

 !( &  *( & -2.'!2 &*! ( ! !&*!- ''.

&&*!-!'! &((.!25 &*! !8(&--

!(,&

.(&5! -!(.

!2&*&5&*&*! - (6!-!"!2!&*!--!( &

- -!( &  ' &!

2!2 &*& &*!  6!-! & "!2 - ;: (, *6!0!-, 2&!2 G%%# ! &!- &*! 2&!  &*! -!'! & *& - , *6!0!-,  *0!5!!

2!-!

&- &*! !6*'*( -!'-2*!'&  &*! &&!-, *6!0!-, ( &*&   &*! 5((  &*! -!'! &, & .(& 5!

-!(.

!2&*& - ( 2:*25!!

"!2-&*!-6(!&*! !8(&-- 

!(6."2 &*0!((.!2&*!-!'! & % *! '-!&   &*! !D.&5"! -&88! ( 2 &&!2 *! + 8 8 -!'&-  -!( &  *2 !I!'.&!2  2!'"-& 2 .

2!-&? 8 2&!2 %%# *! 2!'"-&  (&&!2 &*& &*! 

05"!

- !-&!(-!( &5&* -!(!

2.&.-!J-! 6 - (!2& 5! -&88!2 2 '*-8!2 &  ( &-.(&!!( A-!( & C - &*! *"2!-( ;' 0!-&5"!!5!

&.-!(&&*!!I&!

&"'((.5('-5!2 5 1,, 2 K  *&&*!2!'"-& (&&!(&*&&*! -&88!6( - (!2&5! '-!&!2 ?! 2!-!

'!&6(2 &&!2" '-!&!2*((!02!

&-

- ;G6*'*6("!2 G%%# 26*'*6!6""-!!-& !I&  -!'! &2&!2%%%#6("(((.!25 &*! !8(&-- 

!(&-!( &'?

6"!28 8-!'! &:3; -!( !'&  - (G 2: 

- ;G -!!-( & &*! (2 2!!2  * &*!'&  8 (& /-  & (, *6!0!-,  0&" 

-& '! & &! &*! -&'."-( & /- $6*'*-!(""6();

  3  

     /&/ 



4 

    

 

 ) * 0--     

    

  

             

 

    

 

    

   

  

  

        /&/

   

  

'    -+*55*5,,6  

       

   

    



          -5*50*5,,6 



/&/ 

* "  *  *.(&*! - !I -!((" -!!-(&&*!'-!& &*!!D.&5"!

-&88!*&&*!-!6( 2'.

&(--!"!0 & !D.&5"! -&88! '

5!'-!&!25 &*!2!

(&&&"!2!!2" !&( & !'!((- -&*!

-&!( & !I!'.&!  - " 2'.

&   -!( !'& &*!-! *! -  ( !02!

'!  &*! -&88! *0 8 5!!

 '-!&!2  *!-! ( &*.(  !I -!(( (( &*&&*!2.!(-!( &( 2:6!-!"((!'.-!25 &*! (2 -&88! 5  2!

(&  &&"! 2!!2( '-!&!2 5  &*! '

  %%#*!-8*&( 6(& 20!(&!2 &*!

&  &(

-& && &!&*&&*!(((& &!

!-"+ 8!-&*! (& -!( &    "!&&!- 2&!2 $#%%% 22-!((!2 & &*! '" 1D.2&-(&&!2&*&-!( &(&(6!""(&*!.- (.-

!( *2  ((. -(&3!I'".(0! '*-8! &*! '

>( I!2 ((!&( *! "!&&!- 2 &&!2 &*& &*! 88-!8&! - ' " .

& 2.! & &*!

 .- (.- '!'

!(("'(*(2 (( (& 2(&*( !0!- 5!!

' &!

2!2&*&&6( (&?!- 2!.

2!- (&?!



-!((   (6! & !2!-"!-,-!( &( 22 &(&&! &*&&*!'*-8!*2 &5!!

-!8(&!-!2*!  !-!" (&&!&*&&*!

*( & 5!!

 5"! & !(&5"(* &*& &*! '*-8! 6( -!8(&!-!2 5(!  2'& &&*!' &-- , 2&*!-!( !,& .(&5! -!(.

!2&*&&*! '*-8!6(-!8(&!-!22 &&!2" ,&*!'*-8!6('-!&!2 !0!

&,&( '"!-5!  22.5&- &*!50!'&(&*&&6(4!*0!-!!--!2&&*! 2'.

&( 2 ( !''""  -   G 6*'* !(&5"(*!( &*& -!( *2(.5 &&!2&*! !'!((- 2'.

&(--!8(&-&  ''-2 6&*/!'& #&*!'&4!-! '" !2& -!(.

!&*&&*!.&*-&!( '!- !2 &*! !8(&--

!(."""!2&*!(&&.&- 5"8&  -!8(&!- 8&*!'*-8!*!-!6( "!8"5-&&*!'*-8!5! 8-!8(&!-!2 :

'!26&*&*(,&*!"!- !2'.

(!"

!- 8 5!*"&*! &(' &!

2!2&*&&*!2'.

&(6!-!(.5 &&!25!  2&*! !-2

-!('-5!2 .

2!- (!'&  #  &*! 

!( '& 2 &*& ( 6*  & (

((5"!&*&&*!'*-8!6( &-!8(&!-!2  *( (.5 ((  5  -!( & ( 2  ( &&""  .

''!

&5"!*! -0(&(!'& #&*!'&8- &( 22& "& ! :2 (*!-!( &* 8&(*6&*&&*!5!

!&&*! -0(6( & !I&!

2!2 & -!( & ( 2  ( 6! *0! -!

!&!2"  & !2, & ( 2  *0! '

"!&! ?

6"!28!  &*! '&( 2 &*! 2'.

&& *! *0! &(&&!2&*&&*! !8(&--

!(*2 -!.(!2&-!8(&!-&*!'*-8!*!-!( (.'*-!.(" -!'-24!-! &  '" !2 & ( !'."&! 8 (& &*!

& 6*'* &*!-6(! *( .

(6!-5"! 27.(&'" 

# 4!6!-! - !25 &*! '"1D.2&-&*&&*!

2&*!-!( &(-!&*! " '-!2&-(! 2!&'"!-&*& '" ( *0!5!!

2!5 &*!6-?!-( 2 !0!

&&*!-!-! .&(& 2 8 '" (-68!(5  6-?

 @  &*!'-'.

(& '!(,&*!

.8 !2-2!- 27.28 &-!(!&;

(2!*!



"'& #$%(""6!2&(2!'"-!2 &*& &*!

& *"2(  ((. '*-8! ( '" !2 5  & 2 (*""5! &&"!2& -;-&2(&-5.& &*!("! -'!!2(&!- ? 8 !'!((-  2!2.'& (&*!-!- *! '"1D.2&-(*""-!;'"'."&!&*! .

&( 2.!&&*!(!'.-!2'-!2&-( ''-2 '!6&*&*(7.28 &&&*!!!'& &*& &*!

& *"2( &*! -(&;'*-8!   -!( !'&  &*! ((!&(  &*!

((. 6&* &*! &*!- -(& '*-8!;*"2!-( *! '" 1D.2&-(*""'"".

&*! -&!(' '!- !2&-!.

2&*!!I'!(( .

6&* &!-!(&&H !-

.

- &*!2&!-!'! &&*!-!5 &*!

2 (*""   0!-&*!

&>( 2.!  ''-2 '! 6&*"6 5  :G# *!-!(*""*6!0!-5! -2!-(&'(&(  A/LM  C   / A//41C    19th May, 2015  B-0 2!->  Whether to be referred to the reporter or not.

Yes No. √