M/S Gayatri Trading Company Vs Union Bank of India and Another

Court No. - 32

Case :- WRIT - C No. - 723 of 2020

Petitioner :- M/S Gayatri Trading Company Respondent :- Union Bank Of India And Another Counsel for Petitioner :- Anand Kumar Srivastava Counsel for Respondent :- Ashish Agrawal

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Hon'ble Shashi Kant Gupta,J. Hon'ble Piyush Agrawal,J.

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This writ petition has been filed, inter alia, for the following relief;

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"I. To issue a writ, order or direction in the nature of certiorari quashing the notice dated 19.12.2019.

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II. To issue a writ, order or direction in the nature of mandamus directing the respondent authority not to take any coercive action against the petitioner in pursuance of notice dated 19.12.2019."

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Heard learned counsel for the parties and perused the record.

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Learned counsel for the petitioner submitted that without disposing of his objection filed under Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short "the SARFAESI Act"), impugned possession notice has been issued against the petitioner.

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Per contra, Sri Ashish Agrawal, learned counsel for the Bank has submitted that till date the petitioner has not filed any objection or representation under Section 13 (3) (3A) of the SARFAESI Act. He further submitted that the petitioner has got an statutory alternative remedy to file an appeal under Section 17 of the SARFAESI Act against the impugned notice before the concerned Tribunal to ventilate his grievances.

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We find substance in the argument of the learned counsel for the Bank, as such, we are not inclined to entertain this writ petition and the same is hereby dismissed on the ground of alternative remedy. However, the petitioner may, if so advised, seek appropriate remedy as available to him under section 17 of the SARFAESI Act before the Debt Recovery Tribunal in accordance with law.

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Order Date :- 17.1.2020 vinay

M/S Gayatri Trading Company v. Union Bank of India and Another

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M/S Gayatri Trading Company v. Union Bank of India and Another

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