The Gauhati High Court brokered the Statutory remedy before the Debts Recovery Tribunal for the SARFAESI matter, dismissing the present appeal attaching.c1 that the dismissal will not prejudice the subsequent Tribunal proceedings.
dis-mission of appeal with liberty to approach the Debts Recovery Tribunal in accordance with law.
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GAHC010033392022
THE GAUHATI HIGH COURT (HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)
Case No. : WP(C)/1251/2022
BANK OF INDIA
AN INDIAN NATIONALIZED BANK HAVING ITS REGD. OFFICE AT STAR HOUSE, C-5, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI-400051, MAHARASHTRA AND ITS REGIONAL OFFICE AT SAIKIA COMMERCIAL COMPLEX, G.S. ROAD, GUWAHATI-781005 REP. BY ITS ZONAL MANAGER.
VERSUS
PUNJAB AND SIND BANK AND 3 ORS FANCY BAZAR BRANCH, LOHIA MARKET, H.B. ROAD, FANCY BAZAR, GUWAAHTI KAMRUP (M), ASSAM-781001.
2:THE AUTHORIZED OFFICER PUNJAB AND SIND BANK FANCY BAZAR BRANCH LOHIA MARKET H.B. ROAD FANCY BAZAR GUWAHATI KAMRUP (M) ASSAM-781001.
3:NETIK AGARWAL S/O. SRI RAJ KUMAR AGARWAL PROPRIETOR OF M/S KAMAKHYA TRADING R/O. WARD NO.5 N.T. ROAD VIA NAMGARH SANTIPUR BHUTAN ROAD RANGIA TOWN KAMRUP ASSAM-781354.
4:RAJ MUMAR AGARWAL S/O. SRI JAY RAM AGARWAL
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R/O. WARD NO.5 N.T. ROAD VIA NAMGARH SANTIPUR BHUTAN ROAD RANGIA TOWN KAMRUP ASSAM-781354
Advocate for the Petitioner : MR. R DE Advocate for the Respondent : MR G N SAHEWALLA (r-1,2)
BEFORE HONOURABLE THE CHIEF JUSTICE HONOURABLE MR. JUSTICE SOUMITRA SAIKIA
ORDER
Date : 06-04-2022
Heard Mr. R De, learned counsel for the petitioner. Also heard Mr. G.N. Sahewalla, learned senior counsel assisted by Mr. H.K. Sarma, learned counsel for respondent Nos.1 and 2.
The matter relates to Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
Since the Debts Recovery Tribunal, Guwahati Bench is presently functioning and this Court has been informed that the Presiding Officer has joined the Tribunal, the petitioner may avail the statutory remedy before the Debts Recovery Tribunal.
Under the circumstances, we dismiss the present appeal with a liberty to the petitioner to approach the Tribunal in accordance with law.
It is made clear that the dismissal of the appeal shall not prejudice the case of the petitioner before the Tribunal.
JUDGE CHIEF JUSTICE
Comparing Assistant
1 issue framed by the court
Whether the petitioner is entitled to continue the current writ appeal or vested with the statutory remedy at the Debts Recovery Tribunal.
Bank of India Rep. by its Zonal Manager
Punjab and SindBank Fancy Bazar Branch Guwahati
The Authorized Officer Punjab and SindBank Fancy Bazar Branch Guwahati
Netik Agarwal
Raj Mumar Agarwal
Soumitra Saikia
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
