Haryana

StateCommission

RP/58/2015

Kotak Mahindra Bank Limited - Complainant(s)

Versus

Sharad Aggarwal - Opp.Party(s)

29 Jul 2015

ORDER

STATE CONSUMER DISPUTES REDRESSAL COMMISSION, HARYANA, PANCHKULA

 

 

                                                Revision Petition No.   58 of 2015

                                                Date of Institution :      07.07.2015

                                                Date of Decision   :      13.08.2015

 

 

Kotak Mahindra Bank Limited having its Registered Office:27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai-400051, Branch Office: 7^th Floor, Old Side Ambadeep Building, KG Marg, Connaught Place, New Delhi – 110001 through its Authorized Representative Mr. Akash Saxena.

Petitioner

 

Versus

 

1.      Sharad Aggarwal s/o Shri Hans Raj Aggarwal r/o # House No.26, Lal Vihar, Near Tejli Stadium Road, Yamuna Nagar, Tehsil Jagadhari, District Yamuna Nagar – 135001.

Respondent-Complainant

 

2.      Citi Financial Consumer Finance India Limited, Registered Office at : 3 LSC Pushap Vihar, New Delhi – 110062, through its M.D./Chairman.

3.      Citi Financial Consumer Finance India Limited, 8^th Vidya Nagar through its Branch Manager, and 2^nd Address: Citi Financial (Ashwani & Associates), Opposite Rana Hospital, Rana Market, Near Kanhaiya Saheb Chowk, Yamuna Nagar.

Respondents-Opposite Parties

 

 

 

CORAM :   Hon’ble Mr. Justice Nawab Singh, President

                   Mr. B.M. Bedi, Judicial Member.

                   Mrs. Urvashi Agnihotri, Member.

                  

 

Present :             Sh. Rajiv Dhawan, Advocate for the petitioner.

                                     

O R D E R

 

 

NAWAB SINGH J, (ORAL)

 

          Kotak Mahindra Bank Limited-petitioner is in revision against the order dated April 09^th, 2015 of District Consumer Disputes Redressal Forum, Yamuna Nagar (for short ‘District Forum’).  For ready reference, operative part of the order is reproduced as under:-

                   “……….Hence, in view of the aforesaid circumstances, we are of the confirmed view that the complainant/applicant is entitled for interim relief as sought vide this application dated 7.4.2015 at this stage and thus we restrain the Ops from using any coercive method under the grab of SARFAESI Act or initiating any proceedings under the Arbitration and Conciliation Act qua the matter in dispute during the pendency of the complaint case before the Forum.”

2.      Notice was issued to the respondents by registered post acknowledgment due for today but none has appeared on their behalf.

3.      On July 29^th, 2015, following order was passed by this Commission:-

          “2.               Learned counsel for the petitioner has urged that under Section 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) no injunction can be granted by any Court or other authority in respect of any action taken or to be taken in pursuance of any power conferred by or under this Act or under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.  Inspite of that the District Forum passed injunction against the petitioner to initiate any proceeding under the SARFAESI Act and Arbitration and Conciliation Act. 

3.      Learned counsel further urged that petitioner undertakes that no coercive method shall be taken against the complainant for the recovery of the debt except in due course of law.”

4.      Since learned counsel for the petitioner had undertaken that no coercive method shall be taken against the complainant for the recovery of debt except in due course of law and in view of the Section 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), it is clarified that the petitioner can proceed against the complainant under the SARFAESI Act. 

5.      This being so, the impugned order is modified in the manner indicated above. 

6.      Disposed of.

7.      Copy of this order alongwith record be sent to the District Forum.

 

Announced 13.08.2015

(Urvashi Agnihotri) Member

(B.M. Bedi) Judicial Member

(Nawab Singh) President

 

U.K