Dismissed

Seven Ocean Forex Tours and Travels Pvt. Ltd., Rep. by Its Aut. Rep., Sheikh Gause v. Reserve Bank of India, by Its Chief General Manager Banking and Operations and 2 Ors.

Bombay HC27 Sept 2021WP/294/2021

Case brief

AI extract

What is this about?

Petitioner challenged Reserve Bank of India actions under SARFAESI Act. Bench held jurisdiction under Article 226 exists but DRT is the alternate efficacious remedy. Petition dismissed.

What did the court decide?

Petition dismissed; liberty granted to approach Debt Recovery Tribunal.

What the court decided

Seven Ocean Forex Tours and Travels Pvt. Ltd., Rep… — Writ and Judicial Review | Bombay HC (2021)

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26 WP 294 OF 2021.ODT

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Esha

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IN THE HIGH COURT OF BOMBAY AT GOA

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WRIT PETITION NO. 294 OF 2021

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SEVEN OCEAN FOREX TOURS AND TRAVELS PVT. LTD., REP. BY ITS AUT. REP., SHEIKH GAUSE …PETITIONER

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Versus RESERVE BANK OF INDIA, BY ITS CHIEF GENERAL MANAGER BANKING AND OPERATIONS AND 2 ORS …RESPONDENTS

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Mr. Gideon Noronha, Advocate for the Petitioner.

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CORAM: M.S. SONAK & M. S. JAWALKAR, JJ. DATED: 27^th September 2021.

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P.C.:

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1. Heard Mr. Noronha, the learned Counsel for the petitioner.

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2. In paragraph 8H of this Petition, the petitioner, has quite fairly accepted that it is settled law that action under the SARFAESI Act needs to be assailed before the Debt Recovery Tribunal (DRT). However, it is the case of the petitioner and as articulated by his Counsel Mr. Noronha that jurisdiction of this Court under Article 226 of the Constitution of India is not and cannot be excluded in the matter of such nature.

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Page 1 of 2 27th September 2021

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26 WP 294 OF 2021.ODT

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3. While we agree with the contention that the jurisdiction of this Court under Article 226 of the Constitution of India is not excluded, that by itself means that we are not bound to exercise such jurisdiction when an alternate and efficacious remedy is clearly available to the petitioner. At least, in this case, nothing is pointed out to us as to why we should deviate from the normal rule. The issue as to whether the classification of the petitioner as a non-performing asset was correct or not, can as well be agitated before the DRT. Similarly, the proposal of the petitioner about the OTS facility can also be effectively agitated before the DRT.

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4. Having regard to the aforesaid and also there being several decisions by the Hon’ble Apex Court on the subject, we do not deem to entertain this Petition. However, liberty is granted to the petitioner to take out appropriate proceedings before the DRT. If such proceedings are indeed instituted, we have, no doubt, that the DRT will take into account the period spent by the petitioner in taking out this Petition.

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5. With the aforesaid observations, we dispose of this Petition.

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M. S. JAWALKAR, J.

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M. S. SONAK, J.

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Page 2 of 2 27th September 2021

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VAIGANKAR Digitally signed by VAIGANKAR ESHA SAINATH ESHA SAINATH Date: 2021.09.28 11:12:27 +05'30'

Seven Ocean Forex Tours and Travels Pvt. Ltd., Rep. by Its Aut. Rep., Sheikh Gause v. Reserve Bank of India, by Its Chief General Manager Banking and Operations and 2 Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

Seven Ocean Forex Tours and Travels Pvt. Ltd., Rep. by Its Aut. Rep., Sheikh Gause v. Reserve Bank of India, by Its Chief General Manager Banking and Operations and 2 Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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