The High Court dismissed the writ petition seeking stays on SARFAESI proceedings. It held that the petitioner failed to abide by assurances to the Debts Recovery Tribunal regarding overdue debts, and the main liability issues are pending before the DRT.
The petition is dismissed. No relief is granted to the petitioner.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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M/S 3DADS & ORS ..... Petitioner Represented by: Mr.Rakesh Tikku, Sr.Adv. instructed by Mr.Hemant, Mr.Arjun Bhaskar, Advs.
versus
PUNJAB NATIONAL BANK ..... Respondent Represented by: Mr.Khalid Abdullah, Adv.
CORAM: HON'BLE MR. JUSTICE PRADEEP NANDRAJOG HON'BLE MS. JUSTICE MUKTA GUPTA
7.77 crores, overdue is 77 lakhs. Total amount payable would therefore be approximately `8.5 crores.November 05, 2015 he would deposit `52 lakhs with the bank. He failed to do so.
7.77 crores is outstanding. The overdue was 77 lakhs when proceedings commenced before the Debts Recovery Tribunal. The amount has swollen today. Petitioner has been granted enough indulgence by the DRT. 11. The petition is dismissed.PRADEEP NANDRAJOG, J.
MUKTA GUPTA, J.
FEBRUARY 17, 2016 /‘ga’
page 2 of 2
W.P.(C) 1287/2016
3 issues framed by the court
Whether the High Court Equity jurisdiction should be exercised to grant relief despite the petitioner's failure to honor assurances to the Debt Recovery Tribunal.
Whether the pending application under the SARFAESI Act remains the sole forum to decide the issue of outstanding liability.
Whether the petitioner's repeated failure to deposit the overdue amount justifies dismissal of the writ petition.
2 provisions across 1 enactments
M/S 3DADS & ORS
PUNJAB NATIONAL BANK
PRADEEP NANDRAJOG
MUKTA GUPTA
As recorded by the court registry
A petition under Article 226 of the Constitution asking a High Court to issue a writ against the State or a public authority in a civil matter.
Judgements on the same questions, provisions and authorities, from every court