M/S Shampa Beverage Being Represented through Its Sole Proprietor Namely Mrs. Shampa Jash v. Bank of India Being Represented through Its Chairman
Case brief
What is this about?
Keywords: SARFAESI Act 2002; Section 17; Section 13(4); Rule 8 Security Interest (Enforcement) Rules 2002; efficacious alternative remedy; Debts Recovery Tribunal Ranchi; auction sale notice dated 31.01.2025; possession notice dated 16.01.2024; Bank of India Sakchi Branch; Asset Recovery Department Jamshedpur; M/s Shampa Beverage Ghatshila; sole proprietor Shampa Jash; account no. 450470410000026; writ petition disposed with liberty; no appearance by respondent-Bank; single judge Rajesh Shankar, J.
What did the court decide?
Writ petition disposed of with liberty to the petitioner to prefer a fresh application under Section 17 of the SARFAESI Act, 2002 before the Debts Recovery Tribunal, Ranchi, to be entertained in accordance with law; no relief granted on the prayers for quashing the auction sale notice or for restructuring/enhancement of credit facilities.