Disposed

Kotak Mahindra Bank Ltd. v. District Magistrate and 7 others

Allahabad HC24 May 2018WRIC/18325/2018

Case brief

AI extract

What is this about?

The High Court directed the appellate tribunal to dispose of a pending securitization appeal by July 31, 2018. Subsequently, it permitted the District Magistrate to consider the bank's application for physical possession under Section 14 of the SARFAESI Act, 2002.

What did the court decide?

Directed appellate authority to dispose of appeal by 31.07.2018 and District Magistrate to apply Section 14 of SARFAESI Act, 2002 expeditiously.

Kotak Mahindra Bank Ltd. Vs District Magistrate and… — Company and Corporate | Allahabad HC (2018)

¶1

Court No. - 40

¶2

Case :- WRIT - C No. - 18325 of 2018

¶3

Petitioner :- Kotak Mahindra Bank Ltd. Respondent :- District Magistrate And 7 Others Counsel for Petitioner :- Vijay Tripathi Counsel for Respondent :- C.S.C.

¶4

Hon'ble Amreshwar Pratap Sahi,J. Hon'ble Shashi Kant,J.

¶5

Heard Sri Sudeep Harkauli and Sri Vijay Tripathi, learned counsel for the petitioner and learned Standing Counsel for the respondent nos.1 and 2.

¶6

It appears that the proceedings under the SARFAESI Act, 2002 were undertaken against the respondent nos.3 to 8. The secutrization proceeding was questioned which was decided against the respondents against which the respondent nos.3, 5 and 6 have filed Secrtirization Appeal No.393 of 2014 pending before the Debt Recovery Tribunal, Lucknow. A Supplementary affidavit has been filed today in which these facts have been disclosed and in paragraph no.5 the said affidavit status of the proceedings has also been brought on record.

¶7

The next date fixed in the appeal is 12.06.2018.

¶8

It is therefore evident that proceedings are pending under the SARFAESI Act, 2002.

¶9

This writ petition has been filed by the financial institution praying for a direction that the concerned District Magistrate or Additional District Magistrate may proceed to pass an order on the application filed by the petitioner bank for taking physical possession under Section 14 of the 2002 Act.

¶10

In view of the facts that have been disclosed in the supplementary affidavit we direct that the appellate authority shall proceed to dispose of the appeal not later than 31.07.2018. A certified copy of this order shall be filed the appellate Tribunal.

¶11

The District Magistrate/Additional District Magistrate shall thereafter proceed to consider the application filed by the petitioner in terms of Section 14 of the SARFAESI Act, 2002 expeditiously and pass appropriate orders thereon in accordance with law. The writ petition stands disposed of with the said directions.

¶12

Order Date :- 24.5.2018 R./

Kotak Mahindra Bank Ltd. v. District Magistrate and 7 others

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Ltd. v. District Magistrate and 7 others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Raj Kumar Verma Vs State of U P and 3 Others

Manan Somani Vs State of U.P. and Others

Abdul Gaffoor Vs State of U.P. and Another

Neetu Sharma Vs State of U.P. and 3 Others

Sanjay Kumar Solanki Vs State of U.P. and 2 Others

Pravin Vs Allahabad Bank Branch Belanganj and 2 Others