M/S Visual Instinct India Pvt. Ltd., Nagpur, Thr. Director, Sandeep Dinkar Jat and Another v. Indian Overseas Bank, Nagpur Main Branch, Thr. Authorized Officer and Ors.
Case brief
What is this about?
SARFAESI Act Section 17; Debts Recovery Tribunal Nagpur; interim stay of physical possession refused; Magistrate order dated 17/01/2025 in Criminal M.A. No. 5717 of 2024; 16th Civil Judge Senior Division and Additional Chief Judicial Magistrate Nagpur; Exh.1 letter to take possession; direction to DRT to decide Section 17 application within fifteen days; petitioners' possession protected till then; notice returnable 17/10/2025; private service permitted; Rs. 500 costs for default in affidavit of service; Visual Instinct India Pvt. Ltd. v. Indian Overseas Bank Nagpur; Bombay High Court Nagpur Bench Writ Petition No. 5751 of 2025.
What did the court decide?
Interim protection of the petitioners' possession until the DRT decides the Section 17 SARFAESI application (directed to be decided within fifteen days); notice issued to respondents returnable on 17/10/2025; petitioners permitted to serve respondents by private mode in addition to regular mode.