Respondent No. 1, ICICI Bank Limited, and Respondent No. 3, Sudipta Mitra. Respondent No. 3 and Appellant entered into a registered Agreement for Sale on the 20th of August, 2004. Subsequently, Respondent No. 3, Sudipta Mitra,

Appeal No. 131 of  2017-DRAT-Kolkata
     IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
                               (Appeal No. 131 of 2017)
            (Arising out of T.S.A. 291 of 2014 in DRT-3, Kolkata)
THE HON’BLE  MR.  JUSTICE ANIL KUMAR SRIVASTAVA
             CHAIRPERSON
Biswajit  Sharma,  181,   Purba   Sinthee   Bye Lane, P.S. Dum Dum, 
Kolkata – 700 030.        
             … Appellant
                                  -Versus-
1. ICICI  Bank  Limited,  “Landmark Building”, 4th Floor, 228A, A.J.C. 
Bose Road, Kolkata – 700 020;
2. Authorised  Officer,  ICICI  Bank Limited, “Landmark Building”, 4th 
Floor, 228A, A.J.C. Bose Road, Kolkata – 700 020;
3. Sri   Sudipta   Mitra,  24/1,   Lock    Gate   Road,   P.S. Cossipore, 
Kolkata - 700 002.
Counsel for the Appellant 
…  
 Mr. Prabhat Sil
Counsel for Respondent Bank   …    
Mr.      Abhishek      Guha      with    
       
Ms. Kasturi Dasgupta
Counsel for Respondent No. 3
…
None
JUDGMENT                         :
5.07.2022
THE APPELLATE TRIBUNAL : 
This Appeal is preferred against the judgment and order dated 
30th December, 2016 passed by Learned Debts Recovery Tribunal-3, 
Kolkata in T.S.A. 291 of 2014 (arising  out of S.A. 4431 of 2014 in 
DRT-2, Kolkata) in the matter of  Biswajit Sharma -vs- ICICI Bank 
Limited & Others whereby the learned Tribunal has dismissed the 
SARFAESI  petition.
2.
Brief  facts  of  the case are that the Appellant is a Developer 
who is  engaged  in  the  business of promoting and selling the flats. 
Sri Ram Naresh Pandey was the absolute owner of a property; 
measuring 2 cottahs 39 sq. feet situate at Mouza Purba Sinthee under 
P.S. Dum Dum, Kolkata – 700 030.  Sri Ram Naresh Pandey executed 

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 Appeal No. 131 of  2017-DRAT-Kolkata   
a power of attorney in favour of the Appellant for development and 
construction upon the said land. After the death of Ram Naresh 
Pandey,   
his  only  son, Kalipada Guha (Pandey) inherited the
property  whose  name  was mutated in the municipal records. 
Kalipada Guha (Pandey) executed a  Development  Agreement, dated 
6th October, 1997, for construction of flats on the said property.  There
was  another  property  measuring  about  1 cottah 13 chittacks and 
27 sq.  feet  situate  in  Mouza  Purba  Sinthee, P.S. Dum Dum, 
Kolkata – 700 030 in the names of Smt. Shanti Roy and Smt. Manti 
Roy  who  executed  the  Development Agreement for construction of 
G + 4   storey   building   in favour   of   the    Appellant    on 
23rd September, 1996.
3.
On  the  basis  of  two  separate   power  of attorneys, dated 23rd 
September, 1996 and 4th October, 1997, the Appellant developed and 
constructed G+ 4 storeys building on the aforesaid properties.
4.
It appears that the Appellant agreed to sale of a flat on the 3rd 
floor of the premises, measuring 977 sq. feet, through a registered 
Agreement of Sale in favour of Sri  Sudipta Mitra, Respondent No. 3, 
for a consideration of Rs.24.00 lac from Respondent No. 1 and loan 
agreement was executed. The flat in question was mortgaged to the 
Respondent No.1/Bank in order to secure re-payment of the loan. 
Respondent No. 3 mortgaged a residential unit, being   Flat No. B, 3rd 
floor at Premises   No. 181, Purba Sinthee Bye Lane,  ad-measuring 
about 977 sq. feet, Mouza Purba Sinthee, J.L. No. 22, RS No. 811, 
Touzi No. 1298/2833,1298, RS Dag No. 92(P), R.S. Khatian No. 1189, 
1190,  P.S. Dum Dum, Ward No. 12, District – 24 Parganas (North), 
Kolkata – 700 030 (hereinafter referred to as the Scheduled property) 
for securing the loan amount. The loan agreement was executed on
the 20th of August, 2004 by and between Respondent No. 1, ICICI 
Bank Limited, and Respondent No. 3, Sudipta Mitra. Respondent No. 3 
and Appellant entered into a registered Agreement for Sale on the 20th 
of August, 2004.  Subsequently, Respondent No. 3, Sudipta Mitra, 

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 Appeal No. 131 of  2017-DRAT-Kolkata   
handed over the original IGR to the Respondent Bank along 

…