Disposed

M/s Columbia Paints Industries Pvt. Ltd, and Ors. v. The Punjab National Bank Through Its Chief Manager and Ors.

Patna HC5 Apr 2018CWJC/18223/2017

Case brief

AI extract

What is this about?

Petitioners sought quashing of a possession notice and disposal of objections under the Securitization Act. The court held the writ petition infructuous as petitioners discharged dues, rendering the account non-NPA, and thus disposed of the matter.

What did the court decide?

The writ petition was declared infructuous and disposed of due to repayment making the account non-NPA.

M/s Columbia Paints Industries Pvt. Ltd, and Ors. Vs The… — Banking and Recovery | Patna HC (2018)

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IN THE HIGH COURT OF JUDICATURE AT PATNA

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Civil Writ Jurisdiction Case No.18223 of 2017

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=========================================================== 1. M/s Columbia Paints Industries Pvt. Ltd, through it's Director Sri Rabindra Kumar, resident of Flat No. 204, Ram Bilas Enclave, Purbi Lohanipur, Police Station- Kadamkuan, District- Patna.

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Rabindra Kumar, Son of Late Krishna Kumar Bhagat, resident of Flat No. 204, Ram Bilas Enclave, Purbi Lohanipur, Police Station- Kadamkuan, DistrictPatna.

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Kumari Pooja, Wife of Rabindra Kumar, resident of Flat No. 204, Ram Bilas Enclave, Purbi Lohanipur, Police Station- Kadamkuan, District- Patna.

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.... .... Petitioners

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Versus

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The Punjab National Bank through it's Chief Manager, East of Gandhi Maidan, Patna.

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The Chief Manager-cum- Authorized Officer, Punjab National Bank, East of Gandhi Maidan, Patna.

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The Branch Manager, Punjab National Bank, Gandhi Maidan Branch, East of Gandhi Maidan, Patna.

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.... .... Respondents

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===========================================================

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Appearance :

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For the Petitioners : Mr. J.S. Arora, Sr. Advocate Mr. Manoj Kumar, Advocate For the Respondents : Mr. Kumar Priya Ranjan, SC Mr. Niraj Kumar, Advocate

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===========================================================

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CORAM: HONOURABLE MR. JUSTICE VIKASH JAIN ORAL JUDGMENT Date: 05-04-2018

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reliefs –

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The present writ petition has been filed for the following

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“(i) For quashing the possession notice dated 25.11.2017 issued under the signature of the respondent no. 2, whereby the petitioner and its director have been noticed to hand over the possession of properties as mentioned in the said notice prior to 10.12.2017 failing which the possession of the same shall be taken by coercion.

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(ii) Also for commanding the respondent bank to dispose off the objection filed by the petitioner in

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Patna High Court CWJC No.18223 of 2017 dt.05-04-2018

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2/2

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regard to issuance of notice under section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act and furnish details of the statement of account to the petitioner, so as to permit it to liquidate the loan amount.

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(iii) Also for any other appropriate relief(s) to which the petitioner is found entitled either in the eye of law or in the facts and circumstances of the case.”

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Learned counsel for the parties jointly state that the petitioners have now made payments to the respondent-Bank pursuant to which their account is no longer NPA and the writ petition accordingly has become infructuous.

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The writ petition accordingly stands disposed of.

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(Vikash Jain, J)

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B.T/Chandran

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AFR/NAFR	NAFR
CAV DATE	N.A.
Uploading Date	07.04.2018
Transmission Date	N.A.

M/s Columbia Paints Industries Pvt. Ltd, and Ors. v. The Punjab National Bank Through Its Chief Manager and Ors.

Case brief

What is this about?

What did the court decide?

M/s Columbia Paints Industries Pvt. Ltd, and Ors. v. The Punjab National Bank Through Its Chief Manager and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

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