Dismissed

M/S Anishka Jewellers v. Indian Overseas Bank

Delhi HC8 Oct 2018W.P.(C)/10395/2018

Case brief

AI extract

What is this about?

This is a single bench order disposing of a writ petition challenging an E-Auction Sale Notice u/s 13(4) SARFAESI Act. The court held that the petition available an alternative remedy u/s 17 SARFAESI Act. It permitted amendment of pending DR application and granted liberty to apply for interim stay.

What did the court decide?

Liberty granted to petitioner to amend pending SA or file fresh application before DRT-I for interim stay before auction.

M/S Anishka Jewellers Vs Indian Overseas Bank — Banking and Recovery | Delhi HC (2018)

¶1

$~43

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- W.P.(C) 10395/2018, CM No. 40506/2018 M/S ANISHKA JEWELLERS

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	..... Petitioner
Through:	Mr. Kirti Uppal, Sr. Adv. with
	Mr. Ajay Khanna, Mr. Sidharth Chopra & Mr. Aditya Awasthi, Advs.
versus
AS BANK	..... Respondent
Through:	Mr. Gautam Singhal, Adv. with
	Mr. Naveen Kumar, Adv. with
	Mr. Mahendra Sehra & Mr. Nidhir
	Kant, Bank Officials

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INDIAN OVERSEAS BANK

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CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE V. KAMESWAR RAO

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O R D E R

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% 08.10.2018

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Challenging an E-Auction Sale Notice dated 4^th September, 2018, issued by the respondent under Section 13(4) of SARFAESI Act, 2002, this petition has been filed under Article 226 of the Constitution of India by the petitioner.

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Having heard the learned counsel for the parties at length and after considering various aspects of the matter including taking note of the fact that the proceedings initiated by the present petitioner being SA No. 16/2018 is pending before the DRT-I, Delhi, we are of the considered view that in view of the law laid down by High Court of Madras in the case of Titanium Tantalum Products Ltd. and Ors v. State Bank of India

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MANU/TN/2787/2016 and N.S. Suresh v. The Authorised Officer Vijaya Bank ARM Branch and Ors MANU/TN/0581/2018, petitioner has a remedy of challenging the aforesaid notice before the DRT-I, Delhi under Section 17 of the SARFAESI Act. Petitioner is therefore now required to amend SA No. 16/2018, which is still pending and challenge the E-Auction Sale notice dated 4^th September, 2018.

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Considering all these aspects, we grant liberty to the petitioner to file an application before the DRT-I, Delhi seeking amendment of the proceedings or file a fresh application by tomorrow i.e 9^th October, 2018 and if the same is done, DRT-I shall take up the matter on 10^th October, 2018 itself and pass appropriate orders on the application for interim relief for staying the E-Auction proposed to be held on 11^th October, 2018.

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With the aforesaid, the petition is disposed of.

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Dasti under the signatures of Court Master.

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CHIEF JUSTICE

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V. KAMESWAR RAO, J

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OCTOBER 08, 2018 /ak

M/S Anishka Jewellers v. Indian Overseas Bank

Case brief

What is this about?

What did the court decide?

M/S Anishka Jewellers v. Indian Overseas Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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