NDLI: The Authorised Officer, State Bank of India Vs. M/s Allwyn Alloys Pvt. Ltd. and Ors

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 – s.34
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002)
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Allowed
Headnote	Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – s.34 – Equitable mortgage created by respondent Nos. 2 to 4 in respect of the subject flat in favour of appellant-bank – Failure to repay the loan amount – Claim for title over the subject flat by respondent no.5 and 6 (writ petitioners) – DRT and DRAT held that document “MOU” relied upon by respondents no.5 and 6 was created after the equitable mortgage and it was unregistered document which would not confer any right, title and interest in their favour in the said flat and on that basis rejected the relief claimed by respondent no.5 and 6 to restrain the bank from proceeding with the auction of the flat – High Court held that issue involved disputed facts and directed respondent no.5 and 6 to contest the matter before proper forum – On Bank’s appeal, held: The mandate of s.13 and in particular s.34 of 2002 Act clearly bars filing of civil suit – For, no civil court can exercise jurisdiction to entertain any suit or proceeding in respect of any matter which a DRT or DRAT is empowered by or under this Act to determine and no injunction can be granted by any Court or authority in respect of any action taken or to be taken in pursuance of any power conferred by or under the Act – The fact that the stated flat is the subject matter of a registered sale deed executed by the respondent Nos. 5 and 6 in favour of respondent Nos. 2 to 4 and sale deed has been deposited with the Bank along with the share certificate and other documents for creating an equitable mortgage and the Bank has initiated action in that behalf under the 2002 Act, is indisputable – It is also not disputed that respondent no.5 is in physical possession of the subject flat – If so, the question of permitting the respondent nos.5 and 6 to approach any other forum for adjudication of issues raised by them concerning the right, title and interest in relation to the said property, cannot be countenanced – High Court did not analyse the efficacy of the concurrent finding of fact recorded by the DRT and DRAT but opined that the same involved factual issues warranting production of evidence and a full-fledged trial – The approach of High Court is not tenable in law – Bank/Banking
Judge	Hon'ble Mr. Justice A.M. Khanwilkar
Neutral Citation	2018 INSC 536
Petitioner	The Authorised Officer, State Bank Of India
Respondent	M/s Allwyn Alloys Pvt. Ltd. And Ors
SCR	[2018] 4 S.C.R. 477
Judgement Date	2018-05-17
Case Number	5248

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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