Wave, a Partnership Firm, Nagpur through Authorized Partner, Kumar S/O Washi Chugani and Others Vs the Assistant General Manager, Bank of Baroda, Nagpur and Another

The Petitioners have challenged the show cause notice issued by Respondent No.1-Bank as to why the Petitioners should not be declared as wilful defaulters.

The Petitioners have admittedly availed of loan facility from the Respondent-Bank on 4 April 2014 which has not been repaid. The Respondent-Bank has initiated the proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Petitioners account has been declared as a non-performing asset in May 2019. In light of these facts, if a show cause notice has been issued to the Petitioners, no interference in writ jurisdiction is warranted. Whatever be the contentions of the Petitioners sought to be raised in this petition, the Petitioners can always state so while showing cause. Writ petition is accordingly rejected.

(ANIL L. PANSARE, J.) (NITIN JAMDAR, J.)

Tambaskar.

Signed By:NILESH VILASRAO TAMBASKAR Private Secretary Signing Date:22.03.2022 14:32

Wave, a Partnership Firm, Nagpur through Authorized Partner, Kumar S/O Washi Chugani and Others v. the Assistant General Manager, Bank of Baroda, Nagpur and Another