191090000752019_ba84b2747f1040d5b205bdcd71280cc0.pdf

Appeal No. 30 of 2020-DRAT-Kolkata
     IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
                               (Appeal No. 30 of 2019)
               (Arising out of S.A. 21 of 2019  in DRT, Siliguri)
THE HON’BLE  MR.  JUSTICE ANIL KUMAR SRIVASTAVA
             CHAIRPERSON
Speed   Fast  Construction  Private  Limited, a Company registered under the 
Companies  Act,  1956,  having   its  registered   office  at  City  Mall, Sevoke 
Road,  P.S. and P.O. Siliguri, Siliguri – 734 001,  District : Darjeeling 
represented by one of its directors Sri Ankit Gupta son of Late Suresh Kumar 
Gupta resident of Punjabi Para, Siliguri 734 001. P.O. Sovoke Road, P.S. 
Siliguri,  District - Darjeeling.
…        Appellant
-Versus-
1. 
The Authorized Officer. Allahabad Bank, Siliguri Branch, Rajani Bagan, 
near Meghdoot Cinema Hall, Hill Cart Road, Siliguri – 734 001, P.O 
and P.S. Siliguri, District – Darjeeling;
2. 
Smt. Sabita   Srivastava,  wife  of Sri   Rakesh    Kumar     Srivastava, 
resident 
of    Mallaguri    More,   Hill   Cart   Road,   P.O.  and  P.S. 
Pradhannagar, Siliguri – 734 003, District-Darjeeling.
3.
DA3 Malls LLP, Siva Nagar, Darjeeling More, Pradhan Nagar, Siliguri, 
Darjeeling – 734 401.
                 ... Respondents  
Counsel for the Appellant 
 …    Mr. Joy Saha, Senior Advocate with
Ms. Rakhi Purnima Paul
Counsel for Respondent Bank    …   
 Mr.  Soudip Pal Choudhuri   with      
      
 Ms. Saswati Sikder 
Respondents No. 3 
…    
 Mr. A.K. Dhandhania, Senior 
Advocate with 
Mr. Sailesh Kumar Gupta
JUDGMENT                         :
   31 .08.2022
THE APPELLATE TRIBUNAL : 
Instant Appeal arises out of an order dated 11th March, 2019 
passed by Learned Debts Recovery Tribunal, Siliguri in S.A.  21 of
2019 whereby the SARFAESI Application, filed by Appellant, was 
dismissed.  
2.
It appears that the Appellant filed a SARFAESI Application before
the Learned DRT challenging the SARFAESI action initiated by the 
Respondent Bank against Appellant’s property allegedly purchased by 

2
      
 Appeal No. 30 of 2020-DRAT-Kolkata   
the her on 30th March, 2017, being L.R. Plots No. 558, 559, 770 and 
773 on the ground that plots were agricultural land which could not be 
sold  under  the  SARFAESI proceedings and is barred under Section 
31 (i) of the Act. Some other grounds were also taken in the SARFAESI 
Application challenging the SARFAESI action by the Respondent.
3.
Objections were filed by the Respondents.
4.
After hearing the Learned Counsel for the parties and perusing 
the record, Learned DRT delivered the following order :
S.A. 21 of 19 has been filed by the Appellant against the 
defendant No.1 bark and Defendant No 2 Smt. Savita Srivastava 
from whom he has purchased the secured property. The 
applicant has challenged the sale notice dated 8/2/19 where by 
the sale of the secured asset is fixed on 12/3/19.
Learned Counsel for the applicant submits that the 
mortgage property was purchased by the applicant 30/3/17 from 
Defendant No.2 Smt. Savita Srivastava as an agricultural land 
He is in possession of the said property. He further submits that 
applicant is a bonafide purchaser and in the revenue record, it is 
an agricultural land which cannot be sold under SARFAESI 
proceeding as there is a bar u/s 31(1) of the said Act. He 
submits that he is a bonafide purchaser.
On the other hand the Learned  Counsel for the defendant 
bank submits that the applicant is neither a borrower nor the 
guarantor. He has purchased the said mortgage property by 
virtue of Title Deed No:040301682 for the year 2017 registered 
in the office of the ADSR Bagdogra in Book No. 1.volume No. at 
pages from 34023 to 34062, from defendant No.2. Learned 
Counsel for the defendant bank submits that security interest 
was created in the mortgage property way back on 20/11/2010 
in favour of the bank and the applicant has purchased this 
property on 30/3/2017 knowingly that property is mortgaged 
with the Defendant Bank. As suc

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