2019 (11) TMI 1730

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....ia, Advocate for the Petitioner Mr. Himanshu Takke, AGP, Mr. Milind Sathe, Senior Advocate a/w Mr. Ramesh Dube-Patil, Ms. Khushbu Marwadi i/by M/s. Joy & Co., Advocates for the Respondent ORDER 1] Heard learned counsel for the parties. 2] The Petitioner is an Asset Management Company and claims to have acquired right, title and interest of Dewan Housing Finance Corporation Ltd. under a....

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....partite agreement dated 26th May 2015 was executed between Maharashtra Industrial Development Corporation, M/s. Shree Vaishnav Casting Pvt. Ltd and Dewan Housing Finance Corporation Ltd. Under the said Tripartite Agreement Dewan Housing Finance Corporation Ltd. was referred to as the financial institution and as consideration for the loan advanced by it to M/s. Shree Vaishnav Casting Pvt. Ltd. upo....

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.... the said notice." 4] On 20th January 2018, as noted above, the Petitioner, under the Assignment Agreement took over the rights of Dewan Housing Finance Corporation Ltd.. Concededly the Assignment Agreement does not bear the signatures of any officer of Maharashtra Industrial Development Corporation and the Corporation is not a party thereto. 5] On 1st January 2018 Maharashtra Industrial Dev....

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.... 2015 was subject to paragraph (d) thereof. Meaning thereby, if the lessee committed default by not adhering to terms of the lease, the lease was liable to be revoked. 8] The Petitioner, as an assignee of Dewan Housing Finance Corporation Ltd. can at best step into the shoes of the company and respond to the show-cause notice raising such defences as would be permissible in law. 9] By no str....