Disposed
Commercial Trading Corporation v. the Collector and District Magistrate, Kolhapur and Anr.
Bombay HCWP/1163/2011
Case brief
AI extract
What is this about?
The Bombay High Court declined to entertain a writ petition regarding the taking over of possession of secured assets, directing instead that only formal possession be taken initially, granting time for the petitioner to file an appeal before the Debts Recovery Tribunal under Section 17 of the SARFAESI Act.
What did the court decide?
An order was passed directing the taking of only formal possession of the secured asset to enable the petitioner to approach the Debts Recovery Tribunal.