SANJAY SANTOSH KAPOOR Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) THIS Appeal takes exception to the order passed on 13.9.2004 by the Recovery Officer (Mr. S.S. Iyer) of this Tribunal in Recovery Proceeding No. 11 of 2003 against the respondent Nos. 2 to 7. By the impugned order, the appellant - intervener's prayer to lift attachment of Flat No. 23, Shivgiri, Plot No. 98, Opp. R.T.O. Lane, Four Bungalows, Andheri (W), Mumbai 400053 was turned down.

(2.) The respondent Bank had filed suit No. 766 of 1999 in the Hon'ble High Court of Judicature at Bombay which came to be transferred to this Tribunal on its establishment and was registered as Original Application No. 1866 of 1999. The O.A. came to be disposed of by ex parte judgment passed on 21.1.1003. The judgment declared that the amount allowed by the O.A. was secured (by Equitable Mortgage) of the Flat in question. Pursuant to the judgment, Recovery Proceeding No. 11 of 2003 was initiated. In the Recovery Proceeding, the property was attached under the orders of learned Recovery Officer vide Panchanama dated 12.2.2004 and formal possession has been taken.

(3.) BY the impugned order, the learned Recovery Officer disallowed the intervener's application mainly on the ground that this Tribunal had declared that the outstandings are secured by Equitable Mortgage of the Flat and that he (Recovery Officer) cannot go beyond the Recovery Certificate.