BEFORE THE HON’BLE DEBTS RECOVERY TRIBUNAL

JABLPUR.

ORIGINAL APPLICATION NO:- 549 / 2018

JM FINANCIAL ASSET RECONSTRUCTION CO. LTD. APPLICANT

VERSUS

M/S CITY MALL VIKAS PVT. LTD. & OTHERS DEFENDANTS

APPLICATION FOR APPROPRIATE DIREC TION

That the Applicant above name begs to submit as under:-

1. That the Applicant has filed this instant OA against the

Defendants for recovery of its dues which is pending before
this Hon’ble Tribunal for its final Adjudication.

2. That ICICI Bank (herein referred as Applicant Bank), vide

Assignment Agreements dated 26.09.2016 duly registered on
 24.01.2017 and dated 16.12.2016, duly registered on
24.01.2017 (“Assignment Agreements”), assigned the
financial assets pertaining to the Defendant No. 1 together
with the underlying security interest created thereof and all
the rights, title, interest therein in favour of the Applicant
under the provisions of the SARFAESI Act. By virtue of the
provisions of the SARFAESI Act and the covenants of the
Assignment Agreements, the Applicant is a secured lender to
the Defendant No. 1 in place and stead of ICICI Bank and all
the right, title, interest in the financial assets pertaining to the
Defendant No. 1 and all security interest created thereof in
favor of ICICI Bank stand vested in the Applicant. A copy of
the said Assignment Agreements is filed with the List of
Documents and marked as Exhibit A3 & A3A in the Original
Application .

3. That the Applicant submits that as per the Assignment

Agreements, ICICI Bank has absolutely assigned and
transferred to the Applicant the financial assets pertaining to
the Defendant No. 1 with all underlying securities, interest
thereto and all its rights, title and interest in all agreements,
deeds, documents, and benefits under any decree and/or
recovery certificate, issued or to be issued by any court or
authority or Tribunal in respect of the debt, if any, and
includes any monies distributed by the Official Liquidator in
this regard or in connection with facilities availed by
Defendant No. 1. Through the Assignment Agreements, the
Applicant is also entitled to initiate legal action and/or
continue to pursue any existing legal action (that may have
been instituted by ICICI Bank) in its own name against the
Defendants herein for recovery of dues under the aforesaid
facilities. Hence, the Applicant has locus standi and is
competent to file the present application before this Hon’ble
Tribunal.
4. That it is submitted that the Defendant no.1 M/s. City Mall
Vikash Pvt. Ltd. is a Company incorporated under the
Companies Act, 1956, its Company CIN No. bearing
U45400WB2008PTC121477 and having its Registered Office at
Perfect Chambers, 36, Ganesh Chandra Avenue, Kolkata
(W.B.) Administrative Office at City Mall, 36, G.E. Road, NH-6,
Raipur (C.G.) and work place at Hotel Marriot, City Mall,
Mangla Chowk, Opp. Minocha Colony, Bilaspur (C.G.).

5. That defendant No 9 (Punjab National Bank) filed the Claim

against the Defendant No 1 (M/s. City Mall Vikash Pvt. Ltd.)
before the N.C.L.T.____ With Its Registration No ________

6. That as the defendant No 9 has filed the case against the

Defendant No 1, in these circumstances the Applicant do not
wish to initiate any proceedings against the Defendant No 1 , it
is therefore prayed that proceedings against the Defendant No
1 be kept in abeyance.

7. That the Applicant therefore prayed that this Hon’ble court

may kindly pass an order against Defendant No 2 to 5 , 7 & 8
an order granting recovery certificate for recovery of a sum of
Rs. 1,38,55,00,023.82ps (Rupees One Hundred and Thirty
Eight Crores Fifty Five Lakhs and Thirty Three Rupees and
paisa Eighty Two Only) along with interest pendent lite and
future interest at the rates mentioned above with
compounding at monthly rests till date of recovery / payment.

8. For attachment and sale of the mortgaged properties of the

Defendants as fully mentioned in paragraph 3A hereinabove
for recovery of dues of Applicant. If there remains any
outstanding amounts after appropriation of sale proceeds, the
said outstanding should be recovered from all Defendants Nos.
2 to 5, 7 and 8 jointly & severally.

9. Cost of this case may be awarded to the Applicant against the

Defendants Nos. 2 to 5, 7 and 8.
10. Any other just and equitable relief to which the Applicant is
found entitled to may also be kindly awarded to the Applicant
against the Defendants Nos. 2 to 5, 7 and 8.

11. An Affidavit in Support is Field herewith

PRAYER

It is therefore prayed that this Hon’ble may kept proceedings

initiated against the Defendant No 1 in abeyance & pass an order
against Defendant No 2 to 5 , 7 & 8 an order granting recovery
certificate for recovery of a sum of Rs.
1,38,55,00,023.82ps (Rupees One Hundred and Thirty Eight Crores
Fifty Five Lakhs and Thirty Three Rupees and paisa Eighty Two
Only) along with interest pendent lite and future interest at the
rates mentioned above with compounding at monthly rests till date
of recovery / payment.

JABALPUR M.D.N BAJPAI

DATED COUNSEL FOR THE APPLICANT

 BEFORE THE HON’BLE DEBTS RECOVERY TRIBUNAL
JABLPUR.

ORIGINAL APPLICATION NO:- 383/ 2000

PUNJAB NATIONAL BANK APPLICANT

VERSUS

MADHYA PRADESH STATE ELECTRICITY BOARD

& OTHERS DEFENDANTS

APPLICATION FOR AMENDMENT IN CAUSE TITLE

That the Applicant above name begs to submit as under :-

1. That the Applicant has filed this present Original Application

against the Defendants for recovery of its dues.

2. That During the Pendency of this present Original Application

the name & identity of the Defendant No 1 has been changed
from Madhya Pradesh State Electricity Board to “Madhya
Pradesh Power Management Co. Ltd”. therefore it has become
necessary to change the name in the cause title.

3. That, it is therefore Prayed that this Hon’ble Court may kindly

Allow the Applicant to make the necessary amendment in the
cause title

4. An Affidavit in support is filed herewith

JABALPUR M.D.N BAJPAI

DATED COUNSEL FOR THE APPLICANT

 BEFORE THE HON’BLE DEBTS RECOVERY TRIBUNAL
JABLPUR.

ORIGINAL APPLICATION NO:- 384/ 2000

PUNJAB NATIONAL BANK APPLICANT

VERSUS

MADHYA PRADESH STATE ELECTRICITY BOARD

& OTHERS DEFENDANTS

APPLICATION FOR AMENDMENT IN CAUSE TITLE

That the Applicant above name begs to submit as under :-

1. That the Applicant has filed this present Original Application

against the Defendants for recovery of its dues.

2. That During the Pendency of this present Original Application

the name & identity of the Defendant No 1 has been changed
from Madhya Pradesh State Electricity Board to “Madhya
Pradesh Power Management Co. Ltd”. therefore it has become
necessary to change the name in the cause title.

3. That, it is therefore Prayed that this Hon’ble Court may kindly

Allow the Applicant to make the necessary amendment in the
cause title

4. An Affidavit in support is filed herewith

JABALPUR M.D.N BAJPAI

DATED COUNSEL FOR THE APPLICANT

 BEFORE THE HON’BLE DEBTS RECOVERY TRIBUNAL JABLPUR.

ORIGINAL APPLICATION NO:- 384/ 2000

PUNJAB NATIONAL BANK APPLICANT

VERSUS

MADHYA PRADESH STATE ELECTRICITY BOARD

& OTHERS DEFENDANTS

AFFIDAVIT

I, Sandeep Kumar Sahu , S/o Shri Vishnu Prasad Sahu , aged about 35 years,
Senior Manager , Punjab National Bank Jabalpur (MP), do here by solemnly
affirm and state on oath as under:-

1. That I am the Senior Manager of the Applicant bank in the above

mentioned case and I am competent to swear the instant affidavit.

2. That I have read through and understood the contents of the Application .
The legal submissions made there in are based on Counsels’ advice
believed by me to be true.

DEPONENT

VERIFICATION

I, Sandeep Kumar Sahu , the deponent above named do here by

verify that the contents of foregoing affidavit are true and correct to my
knowledge, most humbly prayed that incorrect and nothing material has
been concealed there from.
Verified by me here at Jabalpur on 20th day of July , 2019

DEPONENT
 BEFORE THE HON’BLE DEBTS RECOVERY TRIBUNAL
JABLPUR.

ORIGINAL APPLICATION NO:- 384/ 2000

PUNJAB NATIONAL BANK APPLICANT

VERSUS

MADHYA PRADESH STATE ELECTRICITY BOARD

& OTHERS DEFENDANTS