M/S P.B.Chauhan and Sons Thr Its Partnerr Vs the Union of India,Thr Its Secretary and Anor.

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR.

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Writ Petition No.3480 of 2008.

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M/s P. B. Chauhan and sons

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vs Union of India and another Office Notes, Office Memoranda of Coram appearances, Court's orders or directions Court's or Judge's Orders and Registrar's orders.

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Shri A. A. Naik, Advocate for the petitioner. Shri N. S. Khubalkar, AGP for Respondents no.1 to 3.

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Coram : B.H. Marlapalle and A.H. Joshi, JJ. Dated : 18 th October, 2008.

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Heard Mr. Naik, the Learned Counsel for the petitioner Company, which is aggrieved by a notice dated 0706-2008 issued by Respondent no.2 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (The said Act for short). The Company also states that the notification issued by the Government of India on 28-1-2003 is a subject matter of scrutiny before the Supreme Court of India as of now in as

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much as whether the Co-operative Banks could be brought within the purview of the said Act.

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It is well known that if the order is passed by the respondent no.2 pursuant to the notice, the petitioner has remedy to approach the Debt Recovery Tribunal under Section 17 of the said Act. If pursuant to the notice dated 07-062007, the order is passed by the Respondent No.2 Bank under Section 13(4) of the Act, the Tribunal will consider all the issues raised in this petition including the applicability of the notification under challenge before this Court.

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Hence, petition is disposed off with liberty to the petitioner to approach the Debt Recovery Tribunal at Nagpur.

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The status quo granted by this Court will continue to operate for a period of four weeks from today i. e. 14-112008.

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On the issue, if any, in filing the appeal, the

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period of pendency of this petition be taken into

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consideration.

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JUDGE JUDGE

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//Muley//.

M/S P.B.Chauhan and Sons Thr Its Partnerr v. the Union of India,Thr Its Secretary and Anor.

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M/S P.B.Chauhan and Sons Thr Its Partnerr v. the Union of India,Thr Its Secretary and Anor.

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