NDLI: M/s. Tripower Enterprises (private) Limited Vs. State Bank of India & Ors.

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Debt
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002) Transfer of Property Act, 1882 (4 of 1882)
Case(s) Referred	Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Allowed
Headnote	Debt – Recovery of – Return of original documents depositedwith DRT – Respondent no. 3-borrower had availed of financialcredit from the bank, for which the respondent no. 2-guarantorhad offered its immovable property by way of mortgage to the Bank– The borrower committed default – The bank filed O.A. No.11/2008 before the DRT – Thereafter, took symbolic possession ofthe secured assets – The guarantor filed a petition challenging thepossession notice by the bank, which came to be rejected by theDRT – The secured assets were auctioned and a sale certificate inrespect of the secured assets was issued to the appellant – Beforethe auction was finalised, the bank had moved an application beforethe DRT for return of the original documents to hand over the sameto the auction purchaser upon issue of sale certificate – Thatapplication was rejected by the DRT on the ground that the issuewas raised by the guarantor that there was no valid mortgage asthe same was created by incompetent persons and the said issuewas still to be examined by DRT in O.A. No. 11/2008 – However, theDRAT reversed the decision of DRT and directed return of originaldocuments – Aggrieved, guarantor filed writ petition before the HighCourt and the order passed by the DRT was restored – Before theSupreme Court, in addition to the validity of mortgage, it was alsocontended that the sale certificate issued by the Bank refers to aland bearing Paimash no. 722/4 and the ancestors of respondentnos. 11 & 12 were owners of the said land – Thus, the said landcould not have been made subject matter of mortgage in favour ofthe bank, as the guarantor had no title over it – Held: The guarantorhas successively raised the issue regarding the validity of subjectmortgage in different proceedings unsuccessfully – The concernedforum/Court unambiguously rejected the same – More importantly,the guarantor through its director had offered to pay the entireoutstanding dues and also admitted on affidavit the factum ofexistence of subject mortgage in favour of the bank – Now, theguarantor cannot be permitted to resile from the admission of itsliability – Notably, the auction sale stands concluded in favour ofthe appellant – Resultantly, the Bank is under legal obligation tohandover the title deeds or the original documents – As far as theland bearing Paimash no.722/4 is concerned, the sale certificate,as issued by the Bank, does make reference to land bearing surveyNo. 282, which inter-alia, consists of old Paimash no. 722/4 –Therefore, to the said extent of land referred to in the decree passedby the District Court in favour of the respondent no. 11, despite theissuance of sale certificate, the title document in respect of oldPaimash No. 722/4 ought not to be released until the final decisionin O.A.No. 11/2008 is made by DRT – Therefore, the operative orderof the DRAT is modified to the effect that application filed by thebank is partly allowed by ordering return of the original documents,except in respect of the land bearing Paimash No. 722/4 – Therefore,the impugned decision of the High Court is reversed.
Judge	Hon'ble Mr. Justice A.M. Khanwilkar
Neutral Citation	2020 INSC 360
Petitioner	M/s. Tripower Enterprises (private) Limited
Respondent	State Bank Of India & Ors.
SCR	[2020] 7 S.C.R. 626
Judgement Date	2020-04-24
Case Number	2373

Sl.	Authority	Responsibilities	Communication Details
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
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

M/s. Tripower Enterprises (private) Limited Vs. State Bank of India & Ors.

Please Log-in to view this content

State of Rajasthan & Ors. Vs. M/s. Dev Ganga Enterprises

M/s Manuelsons Hotels Private Limited Vs. State of Kerala & Others

M/s Gangotri Enterprises Ltd. Vs. Union of India & Ors.

M/s Utkal Suppliers Vs. M/s Maa Kanak Durga Enterprises & Ors.

M/s. Industrial Promotion and Investment Corporation of Orissa Limited Vs. M/s. Tuobro Furguson Steels Private Limited & Others

M/s. Muneer Enterprises Vs. M/s Ramgad Minerals and Mining Ltd. & Ors.

M/s Consolidated Construction Consortium Limited Vs. M/s Hitro Energy Solutions Private Limited

Marsh India Insurance Brokers Private Limited Vs. M/s Atkins Special Risks Ltd. & Ors.

M/s. Kunj Aluminium Private Limited Vs. M/s. Koninklijke Philips Electronics Nv

M/s. Tripower Enterprises (private) Limited Vs. State Bank of India & Ors.

M/s. Tripower Enterprises (private) Limited Vs. State Bank of India & Ors.

Please Log-in to view this content

Similar Documents

State of Rajasthan & Ors. Vs. M/s. Dev Ganga Enterprises

M/s Manuelsons Hotels Private Limited Vs. State of Kerala & Others

M/s Gangotri Enterprises Ltd. Vs. Union of India & Ors.

M/s Utkal Suppliers Vs. M/s Maa Kanak Durga Enterprises & Ors.

M/s. Industrial Promotion and Investment Corporation of Orissa Limited Vs. M/s. Tuobro Furguson Steels Private Limited & Others

M/s. Muneer Enterprises Vs. M/s Ramgad Minerals and Mining Ltd. & Ors.

M/s Consolidated Construction Consortium Limited Vs. M/s Hitro Energy Solutions Private Limited

Marsh India Insurance Brokers Private Limited Vs. M/s Atkins Special Risks Ltd. & Ors.

M/s. Kunj Aluminium Private Limited Vs. M/s. Koninklijke Philips Electronics Nv

M/s. Tripower Enterprises (private) Limited Vs. State Bank of India & Ors.