Dismissed

Shubh Saraswati Bahuudeshiya Sahkari Sanstha Marayadit v. Authorised Officer Cum Chief Manager Ambit Finvest Pvt. Ltd. and Anr.

Bombay HC28 Mar 2024WP/4817/2024

Case brief

AI extract

What is this about?

In this civil appeal jurisdiction writ petition, the Bombay High Court rejected a plea by a cooperative society to restrain an NBFC from selling property via e-auction following an interim order in securitization proceedings. The Court dismissed the petition due to territorial lack of jurisdiction and delay in filing the appeal before DRAT. The order was made without costs, stating the sale remain

What did the court decide?

No order as to costs. Sale subject to pending appeal before DRAT.

Shubh Saraswati Bahuudeshiya Sahkari Sanstha Marayadit… — Company and Corporate | Bombay HC (2024)

¶1

15.WP.4817.24.DOC

¶2

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

¶3

CIVIL APPELLATE JURISDICTION

¶4

WRIT PETITION NO.4817 OF 2024

¶5

Shubh Saraswati Bahuudeshiya Sahakari Sanstha Marayadit ..Petitioner

¶6

ANJALITUSHAR Digitally signed byANJALI TUSHARASWALE Date: 2024.04.01 ASWALE 11:04:13 +0530

¶7

Versus

¶8

Authorised Officer cum Chief Manager Ambit Finvest Pvt Ltd & Anr ..Respondents

¶9

Mr.Gauraj Shah /b Mr.Mahesh B. Karule, Advocates for the Petitioner.

¶10

Mr.Murlidhar Kale , Advocates for the Respondents through VC.

¶11

CORAM : B. P. COLABAWALLA & SOMASEKHAR SUNDARESAN, JJ. DATE : MARCH 28, 2024

¶12

P.C.

¶13

The above Petition is filed seeking the following

¶14

reliefs:-

¶15

i. “Allow the present petition and issue appropriate writ, direction or order, thereby restraining the respondent numbers NBFC from creating any third party interest in property described in paragraph no.2 and from transferring the possession of the said property to any third person, during pendency of the present proceedings i.e. Securitisation Application number SA 311 /2023 before the learned Debts Recovery Tribunal III at Mumbai.

¶16

ii. Restrain the respondent NBFC from taking any action in furtherance of the notice dated

¶17

Page 1 of 3 MARCH 28, 2024

¶18

Aswale

¶19

15.WP.4817.24.DOC

¶20

06.03.2024 (EXHIBIT-P/02), during pendency of the Securitization Application number SA 311/2023 before the Ld. Debts Recovery Tribunal at Mumbai-III.”

¶21

2 It has been brought to our attention that the Petitioner herein has already filed an Appeal before the Hon’ble DRAT challenging the order dated 27^th February, 2024 passed in in Interim Application No.571 of 2024 in S.A.No.311 of 2023.

¶22

3 The purpose of filing the present Petition appears to be for thwarting the sale that is to be conducted by e-auction on 30^th March, 2024. According to the Petitioner, they have been constrained to file this Writ Petition because DRAT is on leave and will be resuming only on 1^st April, 2024.

¶23

4 We are not inclined to entertain the Writ Petition for two simple reasons. Firstly, the DRAT, Chennai is the DRAT incharge, when DRAT Mumbai is unavailable. Secondly, the impugned order was passed as far back as on 27^th February, 2024, and the Appeal of the Petitioner (before the DRAT) has been lodged only on 26^th March, 2024. There is absolutely no explanation as to why one month was taken to approach the DRAT. We, therefore, are not inclined to entertain the above Writ

¶24

Page 2 of 3 MARCH 28, 2024

¶25

Aswale

¶26

15.WP.4817.24.DOC

¶27

Petition. It is accordingly dismissed. However, there shall be no order as to costs.

¶28

5 It is needless to clarify that any sale conducted by the Respondent Bank shall be subject to the outcome of the Appeal filed and pending before the DRAT.

¶29

6 This order will be digitally signed by the Private Secretary/ Personal Assistant of this Court. All concerned will act on production by fax or email of a digitally signed copy of this order.

¶30

[SOMASEKHAR SUNDARESAN, J.] [ B. P. COLABAWALLA, J.]

¶31

Page 3 of 3 MARCH 28, 2024

¶32

Aswale

Shubh Saraswati Bahuudeshiya Sahkari Sanstha Marayadit v. Authorised Officer Cum Chief Manager Ambit Finvest Pvt. Ltd. and Anr.

Case brief

What is this about?

What did the court decide?

Shubh Saraswati Bahuudeshiya Sahkari Sanstha Marayadit v. Authorised Officer Cum Chief Manager Ambit Finvest Pvt. Ltd. and Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Bhagwanbhai K. Kajavadra vs Bureau of Immigration Ministry of Home Affairs and 2 Ors.

Deep Bella Co. Operative Housing Society Ltd. vs State of Maharashtra through Principal Secretary Department of Revenue and Forest

Ashok Kumar Shrivastava vs Avvad Reality LLP

M/S. Ramky Infrastructure Ltd. and Anr. Vs the State of Maharashtra through the Principal Secretary, Revenue and Forest Dept. and Ors.

Javed Kadar Mujawar and Anr. Vs Ajinkya Arunrao Ingawale and Ors.

Javed Kadar Mujawar and Anr. Vs Ajinkya Arunrao Ingawale and Ors.