Petitioner challenged property sale under SARBEE 2002 via writ petition. Court held specific alternative remedy via DRB existed. Petitioner allowed one week to file application; sale may be stayed on outcome.
Petitioner given one week to approach DRB; sale subject to TRB application outcome if filed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
wp 224.2021.odt
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH : NAGPUR
Writ Petition No. 224/2021
Shri Nitin S/o. Vijay Omprakash Agrawal Versus Axis Bank, Mumbai
Office Notes, Office Memoranda of Court's or Judge's Order Coram, appearances, Court's Orders or directions and Registrar's order
Shri Radhe Agrawal, Advocate for the Petitioner
CORAM : NITIN JAMDAR AND ANIL S. KILOR, JJ.
DATED : 11 JANUARY 2021
Heard learned Counsel for the Petitioner. The Petitioner has challenged the action of the Respondent taken under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the resultant sale of the property, which is stated to be scheduled today.
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2 wp 224.2021.odt
property is concerned, the Rules provide for depositing 25% of the amount by the purchaser at the time of sale and, thereafter time is stipulated for depositing remaining 75% of the amount, and thus sufficient time is available to the Petitioner to avail the alternate remedy of approaching the Tribunal.
[ANIL S. KILOR, J.] [NITIN JAMDAR, J.]
2 issues framed by the court
Whether the High Court should entertain a writ petition challenging property sale under SARBEE 2002 when DRB provides an alternative remedy.
Whether sufficient time exists to approach the Debt Recovery Tribunal given the deposit rules.
1 provisions across 1 enactments
Nitin S/o. Vijay Omprakash Agrawal
Axis Bank, Mumbai
Nitin Jamdar
Anil S. Kilor
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
