The High Court of Gujarat dismissed a special civil application via oral order, declining to intervene in the recovery of gold pledged as security when the bank issued a no-due certificate.
The Court disposed of the writ application without directing possession, advising the petitioner to approach the bank for the release of gold.
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.
C/SCA/12127/2022 ORDER DATED: 08/07/2022
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/SPECIAL CIVIL APPLICATION NO. 12127 of 2022
=====================================================
M/S. SATYANARAYAN ELECTRICAL INDUSTRIES
Versus
IDBI BANK LIMITED
=====================================================
Appearance:
MR PRANAV D THAKKAR(8501) for the Petitioner(s) No.
1,2,3,4,5
MR VIJAYKUMAR B LIMBACHIYA(8763) for the
Petitioner(s) No. 1,2,3,4,5
for the Respondent(s) No. 2
MR K T KHATRI(11337) for the Respondent(s) No. 1
=====================================================
CORAM: HONOURABLE MS. JUSTICE VAIBHAVI D. NANAVATI
Date : 08/07/2022
ORAL ORDER
1.Heard Mr. Pranav Thakkar, learned advocate appearing for the writ-applicants and Mr. K.T. Khatri, learned advocate appearing for the respondent - Bank.2.The writ-applicants herein have challenged the order passed by the District Magistrate, Ahmedabad dated 16.05.2022 and sought for the directions whereby the concerned officer as well as Court Commissioner are directed to take physical possession of the immovable property of the petitioner.3.When the matter was taken up for hearing, a Notification being No.18/26/2021-EO(SM-II) isPage 1 of 3
C/SCA/12127/2022 ORDER DATED: 08/07/2022
placed on record. The said Notification states
that the DRT-II takes charge of DRT-I. Further,
this Court has perused the impugned order dated
18.06.2022, by the said order the possession is
to be taken on 21.08.2022. The aforesaid order
is duly produced at page No.185.
4.Mr. Pranav Thakkar, learned advocate appearing for the writ-applicants submits that the Securitisation Application (Diary) No.510/2022 is filed and the status of the said application is duly produced at page No.17.5.Having considered the submissions advanced by the respective parties, in view of the fact that the statutory authority is available, this Court is not inclined to pass any further order.6.Mr. Pranav Thakkar, learned advocate submitted that the petitioner No.5 has availed gold loan from the respondent No.1 Bank, and the said loan was completely paid by the petitioner No.5 and the respondent No.1 Bank has also issued no objection/no due certificate dated 21.5.2021 however, the respondent No.1 Bank has withheld the custody of gold of petitioner No.5 on the ground that the respondent No.5 is guarantor in the loan sanctioned to the petitioner No.5. Therefore, the respondent No.1 Bank has not released the gold valued at approximately Rs.11,00,000/-.Page 2 of 3
C/SCA/12127/2022 ORDER DATED: 08/07/2022
7.It is open for the writ applicants to approach the respondent No.1 Bank by filing appropriate application seeking release of gold which accordingly to the writ applicants is in illegal custody of the respondent No.1 Bank having deposited the entire amount towards gold loan with the respondent No.1 Bank and the respondent No.1 Bank having issued No objection Certificate / No due Certificate dated 21.05.2021.8.If such application is preferred by the writ applicants the respondent No.1 Bank shall consider the same in accordance with law.9.This Court has otherwise not assessed the merits of the matter.10. In view of above, the present writ application stands disposed of.
(VAIBHAVI D. NANAVATI,J)
Pallavi
Page 3 of 3
M/S. SATYANARAYAN ELECTRICAL INDUSTRIES
IDBI BANK LIMITED
VAIBHAVI D. NANAVATI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court