Pyramid Developers v. Union India through Ministry of Finance
Case brief
What is this about?
Petitioner sought a writ of prohibition against proceedings under Section 14 of the SARFAESI Act by respondent no.3, citing Finance Ministry notifications. The Court granted time to file an affidavit-in-reply and adjourned the petition.
What the court decided
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION NO.4099 OF 2024
Pyramid Developers, Santacruz, Mumbai .. Petitioner Vs. Union of India, Through Ministry of Finance and Ors. .. Respondents
Mr. Prathamesh Kamat with Mr. Kayush Zaiwalla, i/by Ms. Sapana Rachure, Advocates for the Petitioner.
Mr. Ankit Upadhyay, Advocate, i/by BLAC & Co., for Respondent No.2. Mr. Prajot H. Jaggi with Ms. Pallavi Kulkarni and Ms. Daksha Parmar, Advocates for Respondent No.3.
Smt. Anupamaa Pawar, Assistant Government Pleader for Respondent No.4-State of Maharashtra.
CORAM : A.S. CHANDURKAR & RAJESH S. PATIL, JJ
DATE : 24TH SEPTEMBER 2024
P.C. :
- The learned counsel for the petitioner by referring to the Notifications dated 24th February 2020 and 12th February 2021, under Section 2 of the Securitization and Reconstruction of Financial Assets an Enforcement of Security Interest Act, 2002, issued by the Ministry of Finance, New Delhi seeks issuance of a writ of prohibition on the ground that the respondent no.3 could not have initiated proceedings under Section 14 of the Act of 2002.
Parties & counsel
- petitioner
Pyramid Developers
- respondent
Union of India, Through Ministry of Finance
Coram
A.S. Chandurkar
Case details
As recorded by the court registry
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