Commercial Trading Corporation Vs the Collector and District Magistrate, Kolhapur and Anr.

Mr. Ashish N. Mehta with Mr. Shridhar Patil for the Petitioner. Mr. S.R. Nargolkar, Addl. G.P. for Respondent No.1. Mr. Amit Borkar for Respondent No.2.

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......

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CORAM : DR.D.Y.CHANDRACHUD & ANOOP V. MOHTA , JJ.

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3 February 2011.

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P.C. :

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Not on Board. On the request of Counsel appearing on behalf of the Petitioner and the contesting Respondents take on Board and called out.

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Since the Petitioner has an alternate remedy before the Debts Recovery Tribunal under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, we are not inclined to entertain this Petition under Article 226 of the Constitution. An order for the taking over of possession has been passed on 16 December 2010 by the Collector, Kolhapur. In order to enable the Petitioner to have recourse to the remedies under Section 17, we direct that in the first instance, only

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WP1163-3.2.sxw

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PNP 2

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formal possession shall be taken of the secured asset. Within a period of two weeks, it would be open to the Petitioner to file an appeal before the Debts Recovery Tribunal and to move the Tribunal for protective interim orders. In the event that the Petitioner fails to do so or in the event that no protective orders are passed by the Tribunal on or before 18 February 2011, the Tahsildar shall duly implement the order passed by the Collector on 16 December 2010. The Petition is accordingly disposed of.

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(Dr. D.Y. Chandrachud, J.)

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(Anoop V. Mohta, J.)

Commercial Trading Corporation v. the Collector and District Magistrate, Kolhapur and Anr.

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Commercial Trading Corporation v. the Collector and District Magistrate, Kolhapur and Anr.

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