Harsore Krishak Seva Sah. Sansthan Vs Uco Bank and Anr.

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S.B. CIVIL WRIT PETITION NO.1457/2008 Harsore Krishak Sewa Sahakari Sansthan Ltd. Vs. The UCO Bank and Anr.

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DATE OF ORDER :: 09-04-2008

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HON'BLE MR. MUNISHWAR NATH BHANDARI,J.

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Mr. R.S. Saluja, for the petitioner.

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This writ petition is filed against the notice dated 12.12.2007 at Annexure-9.

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It is contended by the learned counsel for the petitioner that a detail reply to the notice was given vide Annexure-10 dated 19.1.2008, yet during the pendency of the writ petition, respondents have taken possession of the property in dispute. It is otherwise urged that no amount is due towards the petitioner; rather an arbitration award exist in favour of the petitioner and thus amount is recoverable from the respondents. The arbitration award is pending consideration objections.

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Learned counsel for the petitioner was asked as to why the petitioner has not pursued the remedy otherwise available under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. It is contended that looking the fact, no amount is due against the petitioner, they preferred this writ

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petition.

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I am not satisfied with the contention of the learned counsel for the petitioner, more so when now in view of the judgment of the Hon'ble Apex Court in the case of Maradia Chemicals, the condition of predeposit for maintaining of appeal does not exist. Hence, in view of the above, so far as present writ petition is concerned, it is not maintainable but the petitioner is given liberty to file an appeal under Section 17 of the Act of 2002 and pursue his remedy accordingly which includes the prayer for interim relief if any.

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This writ petition is disposed of

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accordingly.

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[Munishwar Nath Bhandari],J.

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Praveen

Harsore Krishak Seva Sah. Sansthan v. Uco Bank and Anr.

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Harsore Krishak Seva Sah. Sansthan v. Uco Bank and Anr.

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