Disposed

M/S M.K.Electrical Works v. Central Bank of India and Ors.

Patna HC3 Aug 2012CWJC/2520/2012

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What is this about?

The Patna High Court disposed of the writ application filed under the SARFAESI Act, granting liberty to the petitioner to file an appeal to the Debt Recovery Tribunal and restraining the bank from handing over possession during the interim period.

What did the court decide?

Liberty granted to file appeal under Section 17 within two weeks; bank restrained from handing over possession during this interim period.

M/S M.K.Electrical Works Vs Central Bank of India and Ors. — Banking and Recovery | Patna HC (2012)

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IN THE HIGH COURT OF JUDICATURE AT PATNA

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Civil Writ Jurisdiction Case No.2520 of 2012

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====================================================== 1. M/S M.K. Electrical Works Through Its Proprietor Mr. Mahesh Kumar S/O Sri Ram Sewak Singh R/O Daud Bigha, Kankarbagh Main Road, Patna-800026 .... .... Petitioner/s Versus 1. Central Bank Of India Through Its Managing Director-Cum-Chairman Chandar Mukhi, Nariman Point, Mumbai 2. Zonal Manager Zonal Office, Central Bank Of India, Maurya Lok Complex, Patna 3. Regional Manager, Regional Office, Central Bank Of India, Patna 4. Chief Manager Central Bank Of India, Rajendra Nagar Branch, Patna 5. Branch Manager, Central Bank Of India, Rajendra Nagar Branch, Rajendra Nagar, Patna .... .... Respondent/s ====================================================== Appearance : For the Petitioner/s : Mr.Shri Prakash Srivastava, Adv. and Mr. Dr. Pankaj, Adv. For the Respondent/s : Mr. A.Sharan, Mr.P.K.Ehasan and Mr.H.K.Ehsan, Advocates. ====================================================== CORAM: HONOURABLE MR. JUSTICE JAYANANDAN SINGH ORAL ORDER

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5 03-08-2012 Petitioner has filed this writ application against the action of the respondent-Bank under Section 13 (4) of the SARFAESI Act.

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In terms of Section 17 of the Act, petitioner has an efficacious remedy before the Debt Recovery Tribunal. Learned counsel for the Bank submits that now the sale has been confirmed. Hence petitioner has to move the Tribunal in the matter.

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Learned counsel for the petitioner submits that the petitioner is ready to move the Tribunal within 15 days, but till he

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Patna High Court CWJC No.2520 of 2012 (5) dt.03-08-2012

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files his appeal before the Tribunal and files application for interim relief, this Court may grant some protection to him.

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In the circumstances, this writ application is disposed of with granting liberty to the petitioner to file his appeal before the Tribunal in terms of Section 17 of the Act within two weeks from today. For these two weeks, the respondent Bank is restrained from taking steps for handing over the physical possession to the auction purchaser. However, it is made clear that, if the petitioner does not file his appeal before the Tribunal within two weeks and does not obtain stay order from the Tribunal, the Bank will be at liberty to proceed in the matter in accordance with law after expiry of the period.

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(Jayanandan Singh, J)

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Arvind/-

M/S M.K.Electrical Works v. Central Bank of India and Ors.

Case brief

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M/S M.K.Electrical Works v. Central Bank of India and Ors.

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