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BEFORE THE HONOURABLE RECOVERY OFFICER –1 AT MUMBAI

Misc. Application No. : of 2007

R. P. NO. 07 of 2006

The Bharat Overseas Bank …….Applicant

VERSUS

Rekha Indur Chhugani .….. Intervener

Age : Adult, Occ. : Housewife,

R/o. : No.501, Pinky Panaroma,

Plot No.215, 6^th Road,

Khar (W), Mumbai – 400 052.

Objection to proceed with attachment proceedings in respect of property bearing No.501, Pinky Panaroma, Plot No.215, 6^th Road, Khar (W), Mumbai – 400 052.

On behalf of the abovenamed Intervener it is most respectfully submitted that:

1. That the Applicant bank has obtained attachment warrant of the above referred property by concealing numerous material facts very much within their specific knowledge, which are given herein below.

(a) The Applicant bank had taken action against the Respondent No.4 i.e. Seema Investments Private Limited under the SARFAESI Act.

(b) The Applicant bank has already secured the said property which is a joint single flat along with flat No. 502, belonging to a third party i.e. Punjab National Bank, with one single entrance door; and obtained the physical possession through the Chief Metropolitan Magistrate Court on 12/10/2004. Copy of the letter dated 12/10/2004 is enclosed herewith.

(c) The Applicant Bank and Punjab National Bank had formed joint committee for sale of joint flats being flat Nos.501 and 502. The reason was this flat No. 501 was not independent flat but the same is combined with flat No.502 as stated above, which was mortgage with Punjab National bank, who has also got physical possession on 12/10/2004 through Chief Metropolitan Magistrate court. The fact is that these two combined flats have only one single entrance, hence the registrar had put one lock on the door and had two keys of the said lock. One key each was given to both the banks

(d) On 15/01/2005 this joint sale committee headed by Punjab National Bank floated tenders for the sale of this above said joint flats. On 12/02/2005 the flats were inspected by approximately 20 potential buyers. The tenders were invited on 15/02/2005. The joint bid by the Intervener and her husband Mr. Indur K. Chhugani was accepted on 18/02/2005 with earnest money deposit of Rs.5,00,000/-. By 25/02/2005 the balance amount of Rs.45,91,100/- was paid as per demand of the Punjab National Bank. On 27/02/2005 Mr. Mihir Dutta, Chief Manager of Applicant Bank had handed over possession of the joint flats to the Intervener and her husband.

(e) Thereafter on account of MPID court having taken action against the Respondent No.1 i.e. Sound craft Industries Ltd; the banks who were required to attend MPID court, made false statements and the case of the joint committee having sold the flat to the intervener and her husband got complicated. They therefore tried to save their skin by harming the interest of the intervener.

(f) All the matters pertaining with said subject are pending with the Hon’ble High Court.

(g) Since the Applicant could not succeed against the intervener’s husband, they cheated this Hon. Authority by concealing vital information procured the said Order of attachment, which otherwise is not permissible under the law since provisions of the SARFAESI Act overrides the law governing the D. R. T.

(h) The Intervener has therefore filed an appeal bearing No.11/2007 against attachment order passed on 12/03/2007. The said matter is argued at length and kept for granting of prayer as stated in the appeal. Copy of the appeal is annexed herewith.

(i) Vide Exhibit No. 22. Respondent Bank has filed application showing photographs of attachment notice pasted on the Garage door, in the compound of the building on ground floor. This Garage continues to be in the possession of Respondent Bank, since 12/10/2004 itself, though Intervener has already paid money to the said Banks, while purchasing it. No notice has been put on the flat 501 on the 5^th floor, where the intervener resides.

(j) The Applicant bank has concealed all the above relevant fact.

2. I therefore humbly request to kindly look in to the matter and maintain status quo till some appropriate is passed in the said appeal.

I repeat, reiterate and confirm whatever stated herein is true and correct and to the best of my knowledge and belief.

AFFIRMATION

I Rekha Indur Chhugani, the Appellant abovenamed, R/o. : Mumbai, do hereby state that I have read the contents of the foregoing paragraphs and whatever stated therein is true and correct to the best of my knowledge and belief, for which I affirm and sign as below.

Mumbai : 28/06/2007 Rekha Indur Chhugani

(Appellant)

Identified by me

Naveen Chomal

Advocate for Appellant

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