SUNIL GUPTA & ANR vs PUNJAB NATIONAL BANK & ORS

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 21.04.2025 + W.P.(C) 11524/2019 CM APPL. 47332/2019 SUNIL GUPTA & ANR .....Petitioners versus PUNJAB NATIONAL BANK & ORS .....Respondents + W.P.(C) 11525/2019 CM APPL. 47334/2019 CM APPL. 47335/2019 SUNIL GUPTA & ANR .....Petitioners versus PUNJAB NATIONAL BANK & ORS .....Respondents + W.P.(C) 11526/2019 CM APPL. 47337/2019 CM APPL. 47338/2019 SUNIL GUPTA & ANR .....Petitioners versus PUNJAB NATIONAL BANK & ORS .....Respondents + W.P.(C) 11527/2019 CM APPL. 47348/2019 SHALINI GUPTA .....Petitioner versus PUNJAB NATIONAL BANK & ANR .....Respondents Signature Not Verified Signed By:AWANISH W.P.(C) 11524/2019 & Connected Matters Page 1 of 20 CHANDRA MISHRA Signing Date:22.04.2025 14:54:05 Advocates who appeared in this case: For the Petitioners : Mr B B Sawhney, Sr Advocate with Mr Tarique Siddiqui, Mr Aamir Zaidi, Mr Harsh Priya, Mr Abhishek K Tanwar, Mr Mohd Bilal, Mr Fajallu Rehman and Ms Lakshmi, Advocates for the Petitioners. For the Respondents : Mr Ajay Shankar and Mr Manikant Shahi, Advocates for Punjab National Bank. Mr Girish Verma, Advocate for R3 to R10. CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TEJAS KARIA JUDGEMENT TEJAS KARIA, J INTRODUCTION 1. The Petitioners have challenged the common order dated 16.09.2019 passed by the Debts Recovery Appellate Tribunal, Delhi (‘DRAT’) in Appeal No.136/2017, Appeal No.133/2017, Appeal No.134/2017 and Appeal No.135/2017 filed by Respondent No.1/Punjab National Bank (‘PNB’) holding that PNB was a genuine mortgagee of the two properties in question and the same were not vitiated due to any kind of fraud having been played by PNB officials (‘impugned order’). The DRAT further held that the bank had rightly exercised its rights as a secured cr