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Judgment
R. D. Khare, Chairperson
Heard the learned counsel for the applicant.
Learned counsel for the applicant submits that the respondent no.1 was sanctioned a credit facility to the tune of Rs. 14.50 lacs through its directors respondents no. 2 & 3 on the basis of loan agreement dated 21.10.2014, but the respondents no. 2 & 3 failed to maintain the financial discipline, therefore, the loan account was declared as NPA and thereafter, demand notice dated 09.05.2016 was issued under section 3(2) of the SARFAESI Act to the respondents, which was not responded by them. Thus, the appellant-Bank proceeded for its recovery by issuing possession notice dated 04.10.2016 under section 3(4) of the said Act. Against the said recovery proceedings initiated by the Bank, the respondents filed the S.A. No. 536/2017 before the DRT, Lucknow, which is still pending.
It is further contended by the learned counsel for the applicant that the Ministry of Finance vide Gazette Notification dated 15.02.2017 has established the DRT, Dehradun with effect from 16.02.2017 and as per the said Gazette, the jurisdiction of DRT, Dehradun is State of Uttrakhand and
Amroha, Bijnor, Moradabad, Rampur, Sambhal, Muzaffarnagar, Saharanpur and Shamli Districts of State of Uttar Pradesh and the appellant-Bank is also situated at Roorkee, District-Haridwar. It is further contended that the matter is neither being listed before the DRT, Lucknow nor before the DRT, Dehradun. Therefore, it is prayed that the S.A. No. 536/2017 filed by the borrowers may be transferred from the DRT, Lucknow to the DRT, Dehradun.
In view of the above, the Transfer Application filed by the Bank is allowed and the S.A. No. 536/2017 filed by the borrowers is transferred from the DRT, Lucknow to the DRT, Dehradun.
A copy of this order be transmitted to the DRT, Lucknow and the DRT, Dehradun for compliance.