M/S Radhey Shyam Hosiery and Anr. v. Punjab National Bank and Anr.
SARFAESI Act – Section 13(4) measures – Writ petition under Article 226
Case brief
What is this about?
CWP-3904-2022 (O&M), Punjab & Haryana High Court, decided 19.08.2025 by Sheel Nagu, C.J. (author) and Sanjiv Berry, J. Petitioners M/S Radhey Shyam Hosiery challenged Punjab National Bank's SARFAESI Section 13(4) notices dated 29.01.2022. Court declined Article 226 interference relying on United Bank of India v. Satyawati Tondon (2010 AIR SC 3413), Phoenix ARC (2022) 5 SCC 345, PHR Invent Educational Society v. UCO Bank (2024 (6) SCC 579); petitioners relegated to DRT/DRAT; Section 17 application within 30 days protected from limitation dismissal; interim relief continued till DRT decision; writ petition disposed with liberty, no costs.
What did the court decide?
Writ petition disposed of with liberty, without commenting on merits and without cost; petitioners relegated to the statutory remedy under the SARFAESI Act before the DRT and thereafter the DRAT; a Section 17 application filed within 30 days with a copy of the order to be decided on its own merits without dismissal on limitation alone; interim relief already granted to continue till the DRT takes a fresh decision, failing which it loses effect; pending applications disposed of accordingly.