191090008732024_e7b7cf631902c1d58766b59d8c710191.pdf

Reportable/Non-Reportable
                                           
      
  
     Appeal No. 117 of   2024-DRAT-Kolkata
         IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
                                     Appeal No. 117 of 2024
                (Arising out of NDN 1322 of 2024  in DRT-III, Kolkata) 
     HON’BLE  MR.  JUSTICE ANIL KUMAR SRIVASTAVA
             CHAIRPERSON
   
1. 
Smt. Aditi Ghosh, wife of Sri Jayanta Ghosh, residing at Premises 
No. 33, Garia Park, Flat No. B-2,  2nd  Floor, P.S. Jadavpur, now
Patuli, 
P.O. 
Garia, 
under 
Ward 
No. 
110 
of 
Borough 
XI, 
Kolkata: 700 084, South 24-Parganas.
2. 
Sri Jayanta Ghosh, son of late Mukul Kanti Ghosh, residing at 
Premises 
No. 33, Garia Park, Flat No. B-2,  2nd  Floor, P.S. 
Jadavpur, now 
Patuli, P.O. Garia, under Ward No. 110 of 
Borough XI,  Kolkata: 700 084, South 24-Parganas.
                
                … Appellant
-Versus-
1. 
Asset   
Reconstruction Company (India) Limited a Company 
incorporated under the Companies Act, 1956 and registered as a 
Securitization Company and Asset Reconstruction Company pursuant 
to Section 3 of the Securitization And Reconstruction of Financial 
Assets and Enforcement of Security Interest Act. 2002 (54 of 2002), 
having its Registered Office at The Ruby, 10th  Floor, 29, Senapati 
Bapat Marg, Dadar (West), Mumbai: 400 028 and Kolkata Office at 
DN-2, Signet Tower, Salt Lake, Sector-V, 10th  Floor, Room No. 1001, 
Kolkata - 700 091.
2. 
Authorised Officer, Asset   Reconstruction Company (India) Limited 
having its Office at Chatterjee International Centre, 33A, Jawaharlal 
Nehru Road, 8th  Floor, Room No.11A, Kolkata: 700 071 and also at 
DN-2, Signet Tower, Salt Lake, Sector-V, 10th  Floor, Room No. 1001, 
Kolkata - 700 091.
                       …  Respondents
Counsel for Appellant    
 …   
Mr. Souritra Ganguly
Ms. Suparna Biswas
Counsel for Respondents        
 
…   
None
JUDGMENT                         
:   
21st February, 2025
THE APPELLATE TRIBUNAL : 
1.
Instant 
appeal 
has 
arisen 
against 
order 
dated 
22.8.2024, passed by Learned DRT-III, Kolkata, in NDN 
1322 
of 
2022 
(Aditi 
Ghosh 
& 
Others 
-vs- 
Asset 
Reconstruction Company (India) Limited) whereby Learned 

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  Appeal No. 117 of   2024-DRAT-Kolkata
DRT dismissed the Securitization Application filed under 
Section 17 of the SARFAESI Act, 2002 (hereinafter referred 
to as the ‘Act’) holding the same to be barred by limitation.
2.
I have heard the Learned Counsel for Appellant. 
Respondents are served but not represented.
3.
As far as facts of the matter are concerned an 
application under Section 17 of the SARFAESI Act, 2002 was 
filed by the Appellant to seek relief for quashing the Demand 
Notice under Section 13 (2) of the Act and Possession Notice 
under Section 13 (4) of the Act dated 26.11.2021 and 
22.02.2022 and also quashing the order dated 22.5.2023 
passed by the District Magistrate under Section 14 of the 
Act.  Limitation was sought from 22.7.2024, the date of 
pasting of the impugned order dated 22.5.2023 at the 
premises of the Applicants. 
5.
Learned DRT held that the limitation is sought from the 
date of knowledge, i.e. 22.7.2024. The application under 
Section 17 of the Act was filed on 16.8.2024. Learned DRT 
held that the application is barred by limitation. Reliance is 
placed upon the judgment of the Hon’ble Apex Court in 
Akshat Commercial Private Limited & Another -vs- Kalpana
Chakraborty & Others  (AIR 2010 Cal 138). 
 
6.
Learned Counsel would submit that Learned DRT has 
erred in holding that the Securitization Application under 
Section 17 of the Act was barred by limitation. It is 
submitted that no notice was ever served upon the 
Appellant, who is neither Borrower nor Guarantor.  He came 
to know about the order passed by District Magistrate when 

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  Appeal No. 117 of   2024-DRAT-Kolkata
the same was pasted on 22.7.2024. It is further submitted 
that he has purchased the second floor admea

…