ARCHIRSHA INVESTMENT PVT LTD Vs. INDUSTRIAL FINANCE CORPORATION OF INDIA LTD

JUDGEMENT

(1.) THIS is an appeal against the order dated 4.6.2003 passed by the learned Presiding Officer of the Debts Recovery Tribunal-1, Delhi (hereinafter referred to as 'the DRT'). The learned Presiding Officer of the DRT, by the said order, allowed the appeal filed by the 4th respondent herein against the order passed by the Recovery Officer in R.C. 116/2001 on 17.4.2003.

(2.) The Recovery Officer had, by his order dated 17.4.2003, dismissed the objections filed by the 4th respondent herein for setting aside the sale in favour of the appellant herein in respect of the property, namely, Plot No. Spl (A&C), RIICO Industrial Area, Bhiwadi. Distt Alwar, Rajasthan, measuring 74764 sq. metres together with all buildings, plant and machinery', fixtures, fittings, and hypothecated goods/assets, etc. (hereinafter refered to as 'the Property in question').

(3.) AGGRIEVED, the auction-purchaser of the property in question has preferred this appeal. The 4th respondent herein, at whole instance, the sale was set aside, has filed a reply by way of affidavit opposing the appeal. On behalf of respondents 1 to 3 (financial institutions) a reply by way of an affidavit has been filed opposing the appeal.