MILIND VINAYAK PANDYE Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) THIS miscellaneous appeal is filed by the appellant/original defendant No, 5 being aggrieved by the order dated 26th May, 2004 passed by the learned Presiding Officer of D.R.T., Nagpur on Interlocutory Application No. 84 of 2004 in Original Application No. 51 of 2003. By the impugned order, the learned Presiding Officer rejected the application made by the appellant/defendant No. 5 praying for granting injunction against defendant (co-defendant) Nos. 2 and 7 and other colludcrs/conspiralors from transferring, encumbering, alienating or dealing in any manner whatsoever with the assets of the defendant No. 1 company and for other reliefs.

(2.) I have heard Mr. A.M. Deo for the appellant. Mr. Bhambhalani for the respondent No. 1, Mr. S.G. Deshpande for the respondent Nos. 2 and 7. I have gone through the proceedings including the impugned order and in my view, the learned Presiding Officer was right in rejecting the said application made by the appellant praying for injunction against the co-defendants in the original application filed by the Bank against all the defendants for recovery of applicant Bank's dues from these defendants.

(3.) IT is to be highlighted that the Bank was satisfied wITh the injunction order passed by the Tribunal earlier, restraining the defendant Nos. 2, 3, 4 and 7 from transferring, encumbering or dealing in any manner whatsoever wITh the immovable property. The Bank, IT appears, was not keen about getting an order of injunction wITh respect to the hypothecated goods and, therefore, no application was made by the Bank wITh respect to those hypothecated goods. Thereafter this application was made by the appellant/defendant No. 5. The Bank while filing reply simply stated that they had no objection wITh respect to granting injunction against the defendant Nos. 2 and 7, but injunction should not be granted against the alleged colluders and conspirators, who were not parties to the Original Application.