Kakan Rice Mills Private Limited v. Bank of Baroda and Ors.

Appeal Dy. No. 723/2022 Date: 06.01.2023

Kakan Rice Mills Pvt. Ltd. Vs. Bank of Baroda

Present: Shri Alok Rai, counsel for the appellants, Shri G. K. Srivastava, counsel for the respondent-bank,

Heard the learned counsel for the appellant on the urgency application being I.A. No. 765/2022.

Learned counsel for the appellant submits that the District Magistrate concerned has passed the order on 02.12.2022 under section 14 of the SARFAESI Act, therefore, the possession of the Rice mill, which is an ongoing concern, is likely to be taken, in which more than 100 labours and employees are working and are earning their livelihood, therefore, the respondent-Bank may be directed not to take physical possession of aforesaid property in question.

There is nothing on record to authenticate that any such action is being taken by the respondent-Bank for taking over the physical possession of the property in question. If any such action is taken, the prior notice is given by the Bank to the borrower and there is no averment in the application filed by the appellant that any such notice has been issued. Hence, there is no ground made out by the appellant to expedite the hearing of the case. Accordingly, the urgency application is rejected.

List this case on the date already fixed i.e. 01.02.2023.

Justice R. D. Khare Chairperson

Anupam