the highest bidder, if any, and the Respondent No. 3 be conducted. 4. Appellant submitted an application along with objection that he was the successful bidder in the auction held on 27th October, 20… and 2, to the Appellant accepting the bid and showing their intention to sell the secured asset in favour of the Appellant subject to the terms and conditions of the sale notice. A SARFAESI Applicati

Appeal No.11 of  2022 DRAT-Kolkata
      IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
                                Appeal No. 11 of 2022
               (Arising out of S.A. 574 of 2021 in DRT-3, Kolkata)
THE HON’BLE  MR.  JUSTICE ANIL KUMAR SRIVASTAVA
             CHAIRPERSON
1.
Avanti     Realtors     Private   Company,     Incorporated   under    the 
provisions   of   the    Companies   Act, 1950, and an existing company 
within   the   meaning   of   Companies   Act, 2013,  having its office at 
Diamond  Chamber,   Block-11,  4th  Floor,  Unit No. 4, 4, Chowringhee 
Lane, Kolkata-700016;
2. 
Prasanna   Barik,   son of   Purnachandra   Barik,   working for gain  at 
Diamond 
Chamber, Block-11, 4 Floor, Unit No. 41, 4, Chowringhee 
Lane, Kolkata-700016.  
                          
 … Appellants/Respondent No. 4
                                         -Versus-
1.
Aditya   Birla  Finance  Limited,  a поп banking finance company within 
the Companies Act 1956, and an existing company within the meaning 
of Companies Act,  2013,  having  its  office  at  24,  Camac Street, 4th 
Floor, P. S. Shakespeare 
Sarani, Kolkata -700 016;
2.
The    Authorised  Officer,  Aditya Birla Finance Limited,  having   office 
at   24,    Camac   Street,   4th  Floor,   P.  S. -  Shakespeare     Sarani, 
Kolkata -700 016;
3.
Shree Polytax Udyog   LLP, having office  at 5B, Pushpanjali Chambers, 
9/2A, Topsia Road (South), Kolkata 700047;
4.
Devshar Fashions Private Limited,  having office at  P-37,   CIT  HS-12, 
Scheme (M) - VII, Manicktala Main Kolkata 700054. 
          …   Respondents 
Counsel for the Appellant 
 
…  
Mr.      Subhankar    Nag       
with  Mr.   Niladri   Banerjee  
Counsel for Respondents No. 1 & 2   
 …   
Mr. Amit Kumar   Nag   with    
Mr.    Abhishek   Nag   and    
Mr. Maharnab Ray
Counsel for Respondent No. 3
…
Mr.   Prasenjit Pal with Mr. Ajit 
Keshari
Counsel for Respondent No. 4
…
Mr.    Nimish     Mishra   with 
Mr. Dipanjan   Dey
JUDGMENT                         :
    
19th July, 2022

2
      
  Appeal No.11 of  2022 DRAT-Kolkata 
THE APPELLATE TRIBUNAL : 
Instant appeal has been preferred by the Appellants against 
judgment and order dated 16th February, 2022, passed by Learned DRT-
3, Kolkata in S.A. 574 of 2021 (Shree Polytax Udyog LLP -vs- Authorised
Officer, Aditya Birla Finance Limited & Others) disposing of the 
SARFAESI Application with a direction to the Respondents No. 1 and 2 to
conduct inter se bidding between the Appellant and Respondent No. 3 (in 
appeal and Respondent No. 4 is S.A. (Shree Polytax Udyog LLP).   
2.
Facts of the case, in brief, are that the Appellant himself is neither 
a borrower nor mortgagor rather he is a prospective bidder for the 
auction which took place on 27th of October, 2021. The sale notice was 
published by Respondent No. 1 on 15th September, 2021 in the 
newspaper with sale date 27th October, 2021 for sale of a piece and 
parcel of ground floor flat, measuring  about 1800 sq.ft. super built area 
together with proportionate share of interest in premises No. P-36, CIT
H.S. 12, Scheme (M) VII, Manicktala Main Road, P.S. Manicktala, 
Kolkata 
on 
27th 
October, 
2021. 
Reserved 
price 
was 
fixed 
at
Rs.3,01,00,000.00.  
Property was in the name of the Proforma 
Defendant, Devshar Fashions Private Limited. E-auction sale was fixed 
on 27th October, 2021.  Appellant, through its Authorised Representative,
met Respondent  No. 1 and enquired about the formality for participating 
in the bid process which was to be held on 27th October, 2021. As per the
terms and conditions of the e-auction, the last date of submission of 
sealed bid in the prescribed tender form along with Demand Draft of 
Rs.3,10,000.00 towards EMD to be submitted by 27th October, 2021 at 
10.00 a.m. with the Respondent No. 1. Respondent No.3 sent his 
representative, C.A Pawan Goenka along with a demand draft for EMD 
being 780161 dated 26th October, 2021 drawn on KMB, Brabourne Road
Branch but Re

…