H D F C Bank v. M/S Keshav Upadhyay and Another

Misc. Appeal No. 03/2023 Date: 02.02.2023

HDFC Bank Vs. M/s Keshav Upadhyay & Anr.

Present: Shri Adarsh Bhushan, counsel for the appellant, Shri Siddharth Patel along with Shri V. K. Shukla, counsel for all the respondents,

Heard the learned counsels for the parties.

Learned counsel for the appellant contends that the basis of passing the order impugned is that without complying the mandatory provisions of section 13(4) of the SARFAESI Act, the Bank has directly approached the District Magistrate under section 14 of the SARFAESI Act, which process is bad in law and cannot be sustained. The learned counsel further submits that the said basis is against the settled principle of law as laid down by the Hon’ble Supreme Court in Standard Chartered Bank Vs. V. Noble Kumar and Ors., (2013) 9 SCC 620 and has referred to paras 26 and 36.3 of the said judgment in support of his contention. In the last, the learned counsel prays that the interest of the appellant-bank may be protected.

Learned counsel for the respondents submits that he is appearing for the first time, therefore, he requires some time to file reply, which may be filed by the next date.

In view of the submission made by the counsel for the appellant, all the parties concerned are directed to maintain the status quo qua the property in question, as it exists today.

List this case on 19.04.2023 for service.