HARSHAD GOVARDHAN SONDAGAR Vs. INTERNATIONAL ASSETS RECONSTRUCTION CO LTD
LAWS(SC)-2014-4-81
SUPREME COURT OF INDIA (FROM: BOMBAY)
Decided on April 03,2014

Harshad Govardhan Sondagar Appellant
VERSUS
International Assets Reconstruction Co Ltd Respondents





Cited Judgements :-

PARAMJEET SINGH VS. DISTRICT MAGISTRATE, GURUGRAM, HARYANA [LAWS(P&H)-2021-4-99] [REFERRED TO]
YOGESH VS. CHIEF JUDICIAL MAGISTRATE, MADURAI AND ORS. [LAWS(MAD)-2020-2-542] [REFERRED TO]
VIJAYA BANK SHILLONG BRANCH, REPRESENTED BY ITS BRANCH MANAGER VS. SHRI SUROJIT DKHAR PROP. OF M/S. MANSUK ELECTRONICS [LAWS(MEGH)-2017-3-4] [REFERRED TO]
TAMIL NADU MERCANTILE BANK LTD VS. DISTRICT MAGISTRATE, THIRUVALLUR [LAWS(MAD)-2020-9-871] [REFERRED TO]
B SATYANARAYANAN VS. CHIEF METROPOLITAN MAGISTRATE [LAWS(MAD)-2018-4-41] [REFERRED TO]
B. JAYACHANDRAN VS. AUTHORISED OFFICER, CENTRAL BANK OF INDIA, REGIONAL OFFICE [LAWS(MAD)-2018-3-861] [REFERRED TO]
M/S. SAI DURGA AGROTECH INDUSTRIES VS. BANK OF BARODA ERSTWHILE VIJAYA BANK [LAWS(TLNG)-2021-1-131] [REFERRED TO]
BASANT VERMA VS. SEEMA RAJPUT AND ANOTHER [LAWS(MPH)-2015-9-212] [REFERRED]
PRAFULLA KUMAR MAHESHWARI VS. AUTHORIZED OFFICER & CHIEF MANAGER AND OTHERS [LAWS(MPH)-2017-11-172] [REFERRED TO]
SHOBHA LIMITED AND ORS VS. PANCARD CLUBS LTD [LAWS(NCLT)-2017-7-588] [REFERRED TO]
ABHIJIT SEN VS. THE STATE OF WEST BENGAL AND ORS. [LAWS(CAL)-2015-10-39] [REFERRED TO]
CANARA BANK VS. SACHIN SHYAM [LAWS(KER)-2022-12-99] [REFERRED TO]
JAGDISH PRASAD SHARMA VS. DISTRICT MAGISTRATE/COLLECTOR LUCKNOW & 9 ORS [LAWS(ALL)-2014-7-500] [REFERRED TO]
RAJESH KUMAR VS. CHAIRMAN & MANAGING DIRECTOR CANERA BANK [LAWS(ALL)-2014-12-130] [REFERRED TO]
BIJAY KUMAR BARNWAL VS. STATE OF JHARKHAND AND OTHERS [LAWS(JHAR)-2015-9-177] [REFERRED TO]
CHARAN DASS & OTHERS VS. ANIL DOGRA AND ANR [LAWS(HPH)-2018-4-37] [REFERRED TO]
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED VS. ROSHANARA ABDUR RUB [LAWS(DLH)-2021-10-155] [REFERRED TO]
DECCAN CHRONICLE HOLDINGS LIMITED VS. INDIABULLS HOUSING FINANCE LTD. [LAWS(APH)-2018-10-47] [REFERRED TO]
MANGALAGIRI TEXTILE MILLS PVT LTD VS. STATE BANK OF INDIA [LAWS(APH)-2022-2-15] [REFERRED TO]
SBICAP TRUSTEE COMPANY LIMITED VS. UNITED SPIRITS LIMITED [LAWS(BOM)-2014-7-267] [REFERRED TO]
BANK OF BARODA VS. GOPAL SHRIRAM PANDA [LAWS(BOM)-2021-3-50] [REFERRED TO]
ABDUL SATTAR KULLI, MAJOR R/O MUZAWAR WADA VS. AISHAM BI MAMLEKAR [LAWS(BOM)-2018-2-213] [REFERRED TO]
INDIA SME ASSET RECONSTRUCTUION COMPANY LTD VS. RENU SATISCHAND GOHEL & 4 ORS [LAWS(GJH)-2015-3-314] [REFERRED TO]
INDIA SME ASSET RECONTRUCTION COMPANY LTD VS. KIRANDEVI P BANSAL & 3 ORS [LAWS(GJH)-2015-3-419] [REFERRED]
NATVARBHAI JIVABHAI PATEL VS. ALLAHABAD BANK [LAWS(GJH)-2018-1-243] [REFERRED TO]
BHANUMATIBEN VS. BANK OF MAHARASTRA [LAWS(GJH)-2018-5-196] [REFERRED TO]
RATAN CHANDRA DAS VS. RAHAMAN MOLLA & ANR [LAWS(CAL)-2015-9-159] [REFERRED]
STATE BANK OF INDIA VS. CHIEF JUDICIAL MAGISTRATE [LAWS(KER)-2023-8-78] [REFERRED TO]
STATE BANK OF INDIA VS. CHIEF JUDICIAL MAGISTRATE, KOLLAM [LAWS(KER)-2021-9-59] [REFERRED TO]
SHAJI VS. CHATHUKUTTY [LAWS(KER)-2021-10-161] [REFERRED TO]
J. VEERAIAH VS. INDIAN OVERSEAS BANK [LAWS(APH)-2017-7-7] [REFERRED TO]
SRI CHANDRAMALA ENTERPRISES PVT. VS. PUNJAB NATIONAL BANK [LAWS(APH)-2022-8-80] [REFERRED TO]
NATIONAL LAMINATE CORPORATION AND ORS. VS. EURO MERCHANDISE (INDIA) PRIVATE LIMITED AND ORS. [LAWS(BOM)-2015-9-278] [REFERRED TO]
BLUE COAST HOTELS LIMITED VS. IFCI LIMITED AND ORS [LAWS(BOM)-2016-1-251] [REFERRED]
HARI TRADING CORPORATION VS. BANK OF BARODA [LAWS(BOM)-2015-2-341] [REFERRED TO]
BALAJI FOOD PROCESSING INDUSTRY VS. BANK OF MAHARASHTRA AND ORS. [LAWS(KAR)-2015-9-429] [REFERRED TO]
STATE BANK OF INDIA VS. UNION OF INDIA & ORS [LAWS(GJH)-2015-7-200] [REFERRED]
DCB BANK LIMITED VS. STATE OF CHHATTISGARH [LAWS(CHH)-2020-2-195] [REFERRED TO]
JAYA SURESH GANGAR & ORS VS. STATE OF MAHARASHTRA & ORS [LAWS(BOM)-2018-4-186] [REFERRED TO]
AMIT MOHAN BHATIA VS. MARATHA SAHKARI BANK LTD [LAWS(BOM)-2018-2-308] [REFERRED TO]
FESTIVAL CITY REVIVAL ASSOCIATION VS. ARENS ENTERTAINMENT ZONE LTD. AND ORS. [LAWS(P&H)-2014-9-110] [REFERRED TO]
PADAM MOTORS PVT. LTD. VS. DISTRICT MAGISTRATE-CUM-DEPUTY COMMISSIONER AND ORS. [LAWS(P&H)-2015-4-152] [REFERRED TO]
EQUITAS SMALL FINANCE BANK LIMITED VS. STATE OF MADHYA PRADESH [LAWS(MPH)-2023-11-63] [REFERRED TO]
VISHAL N. KALSARIA VS. BANK OF INDIA & ORS. [LAWS(SC)-2016-1-44] [REFERRED TO]
ANIL KUMAR SOTWAL VS. DISTRICT MAGISTRATE CUM DISTRICT COLLECTOR, COLLECTORATE [LAWS(RAJ)-2018-2-205] [REFERRED TO]
ICICI HOME FINANCE COMPANY LIMITED VS. SAI RAMAKRISHNA KARUTURI [LAWS(KAR)-2019-1-163] [REFERRED TO]
SHIPRA HOTELS LIMITED VS. STATE OF U. P. [LAWS(ALL)-2022-11-153] [REFERRED TO]
RICH FIELD INDUSTRIES PVT LTD VS. STATE BANK OF INDIA AND 3 OTHERS [LAWS(ALL)-2016-8-274] [REFERRED]
OM PRAKASH KUMAWAT VS. HERO HOUSING FINANCE LIMITED [LAWS(RAJ)-2022-5-171] [REFERRED TO]
CHENNAI METRO RAIL LIMITED VS. LANCO INFRATECH LIMITED [LAWS(MAD)-2020-10-150] [REFERRED TO]
C BRIGHT VS. DISTRICT COLLECTOR, NAGERCOIL [LAWS(MAD)-2019-7-147] [REFERRED TO]
STATE BANK OF INDIA VS. DISTRICT COLLECTOR, (DISTRICT MAGISTRATE) AND OTHERS [LAWS(MAD)-2018-9-774] [REFERRED TO]
LIVGREEN CLEANTECH PRIVATE LIMITED VS. COLLECTOR/DISTRICT MAGISTRATE [LAWS(UTN)-2019-6-9] [REFERRED TO]
P. SASHIKUMAR VS. AUTHORISED OFFICER, STATE BANK OF INDIA AND OTHERS [LAWS(MAD)-2018-3-839] [REFERRED TO]
RADAAN TEXTILES, REP BY ITS PARTNER, K MANICKAM VS. DISTRICT MAGISTRATE AND DISTRICT COLLECTOR [LAWS(MAD)-2018-4-655] [REFERRED TO]
PALLERLA RAMESH \ K.RAMASWAMY VS. STATE OF TELANGANA [LAWS(TLNG)-2022-4-5] [REFERRED TO]
PALLERLA RAMESH VS. ANDHRA BANK [LAWS(TLNG)-2022-4-81] [REFERRED TO]
VISHWANATH RAMESHWAR VS. A. P. STATE FINANCIAL CORPORATION [LAWS(TLNG)-2019-8-28] [REFERRED TO]
R. ANANDAPADMANABAN VS. CHIEF METROPOLITAN MAGISTRATE [LAWS(MAD)-2016-10-110] [REFERRED TO]
HOTEL AMUTHAS VS. THE DISTRICT COLLECTOR AND ORS. [LAWS(MAD)-2015-6-54] [REFERRED TO]
M. ALPHONSE PACKIARAJ VS. L&T HOUSING FINANCE LTD. AND ORS. [LAWS(MAD)-2015-1-142] [REFERRED TO]
SONALI MOHAPATRA VS. STATE BANK OF INDIA AND ORS. [LAWS(ORI)-2016-1-31] [REFERRED TO]
UMESH PRASAD SHARMA VS. ALLAHABAD BANK [LAWS(SIK)-2021-9-17] [REFERRED TO]
C. BRIGHT VS. DISTRICT COLLECTOR [LAWS(SC)-2020-11-15] [REFERRED TO]
ALPHA BETA SHIKSHA SAMITI VS. STATE OF RAJASTHAN [LAWS(RAJ)-2017-2-80] [REFERRED TO]
ASSET RECONSTRUCTION COMPANY (INDIA) LTD. VS. STATE OF HARYANA AND OTHERS [LAWS(P&H)-2017-8-183] [REFERRED TO]
MADAN MOHAN SHRIVASTAVA VS. ADDITIONAL DISTRICT MAGISTRATE [LAWS(MPH)-2021-4-25] [REFERRED TO]
HDB FINANCIAL SERVICES LTD VS. M/S. REMO SOFTWARE PVT. LTD [LAWS(KAR)-2018-11-36] [REFERRED TO]
AMMINI PETER VS. UNION OF INDIA [LAWS(KER)-2016-5-38] [REFERRED TO]
C.V. SHAJI AND ORS. VS. THE FEDERAL BANK LTD. AND ORS. [LAWS(KER)-2015-8-69] [REFERRED TO]
PYARI DEVI CHABIRAJ STEELS PVT. LTD. VS. AXIS BANK LIMITED [LAWS(CAL)-2020-2-60] [REFERRED TO]
DI CHINI MILL MAJDOOR SANGH THRU SECY & ANOTHER VS. RAJENDRA ISPAT PVT LTD & 2 OTHERS [LAWS(ALL)-2017-11-19] [REFERRED TO]
SHIV CHARAN LAL SHARMA VS. ALLAHABAD BANK A.M.U. BRANCH ALIGARH AND ORS. [LAWS(ALL)-2015-5-318] [REFERRED TO]
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED (HDFC LTD.) AND ORS. VS. DORJEE DOLMA BHUTIA AND ORS. [LAWS(CAL)-2015-9-26] [REFERRED TO]
JAWAHAR SINGH AND ORS. VS. THE UNITED BANK OF INDIA AND ORS. [LAWS(CAL)-2015-8-17] [REFERRED TO]
HITEMP POLYMERS PVT LTD VS. GUJARAT INDUSTRIAL DEVELOPMENT CORPN [LAWS(GJH)-2018-5-167] [REFERRED TO]
GRUH FINANCE LIMITED VS. DISTRICT MAGISTRATE [LAWS(GJH)-2017-8-181] [REFERRED TO]
M/S. OTOKLIN GLOBAL BUSINESS VS. THE STATE OF MAHARASHTRA [LAWS(BOM)-2016-7-88] [REFERRED TO]
REI ELECTRONICS PVT. LTD. AND ORS. VS. STATE BANK OF INDIA, STRESSED ASSETS MANAGEMENT GROUP BRANCH AND ORS. [LAWS(KAR)-2015-11-229] [REFERRED TO]
NAGARATHNAMMA AND ORS. VS. CENTRAL BANK OF INDIA, BANGALORE AND ORS. [LAWS(KAR)-2015-8-218] [REFERRED TO]
COMPUTER ACCESS (P) LTD. VS. STATE BANK OF INDIA AND ORS. [LAWS(KAR)-2016-1-162] [REFERRED TO]
LILADHAR LADAPPA KENDOLE VS. SOLAPUR JANATA SAHAKARI BANK LTD. [LAWS(BOM)-2021-11-13] [REFERRED TO]
POLLY CHAKRABORTY VS. CHHATTISGARH RAJYA SAHKARI BANK MARYADIT [LAWS(CHH)-2017-4-124] [REFERRED TO]
NALLA LAKSHMI KANTHA RAO VS. NAGUBANDI MARKANDESWARA RAO [LAWS(APH)-2023-10-64] [REFERRED TO]
MIRZA ANWAR BAIG VS. STATE BANK OF BIKANER & JAIPUR [LAWS(APH)-2015-10-65] [REFERRED TO]
JAGDISH PRASAD SHARMA VS. DISTRICT MAGISTRATE [LAWS(ALL)-2014-7-64] [REFERRED TO]
SMT. POLLY CHAKRABORTY VS. CHHATTISGARH RAJYA SAHKARI BANK MARYADIT [LAWS(CHH)-2017-4-25] [REFERRED TO]
DHARMENDRA KUMAR VS. DISTRICT MAGISTRATE, RAIPUR & OTHERS [LAWS(CHH)-2017-8-8] [REFERRED TO]
ADITYA BIRLA HOUSING FINANCE LIMITED VS. DISTRICT MAGISTRATE, RAIPUR DISTRICT [LAWS(CHH)-2022-1-21] [REFERRED TO]
MAHINDRA CHANDRASEN VS. UNION BANK OF INDIA [LAWS(BOM)-2017-3-13] [REFERRED TO]
SRI CHAKRAPANI DALL MILL CONTRACTORS VS. CHIEF JUDICIAL MAGISTRATE-CUM-PRINCIPAL ASST. SESSIONS JUDGE [LAWS(APH)-2020-9-89] [REFERRED TO]
K SAMPATH RAO AND OTHRS VS. CHIEF MANAGER, SBI, KARIMNAGAR DIST, AND OTHERS [LAWS(APH)-2016-4-78] [REFERRED]
BLUE COAST HOTELS LIMITED VS. IFCI LIMITED AND ORS. [LAWS(BOM)-2016-3-127] [REFERRED TO]
PARVIN COTGIN PVT. LTD. VS. AXIS BANK LTD. [LAWS(GJH)-2020-8-533] [REFERRED TO]
ANJANA SENGUPTA VS. CENTRAL BANK OF INDIA & ORS [LAWS(CAL)-2015-2-120] [REFERRED]
REETA SRIVASTAVA VS. DISTRICT MAGISTRATE, LUCKNOW [LAWS(ALL)-2014-12-118] [REFERRED TO]
NAGESHWAR RAO VS. COLLECTOR, COLLECTOR OFFICE [LAWS(BOM)-2023-3-50] [REFERRED TO]
VIJAY VS. STATE OF MAHARASHTRA [LAWS(BOM)-2022-7-277] [REFERRED TO]
TAPASI ROUTH NEE SINHA ROY VS. STATE OF WEST BENGAL & ORS [LAWS(CAL)-2019-2-58] [REFERRED TO]
NALIN VASUDEV SOMPURA VS. DISTRICT MAGISTRATE & 2 [LAWS(GJH)-2015-3-434] [REFERRED]
CHETAN COACH PVT. LTD. VS. AXIS BANK LIMITED AND ANOTHER [LAWS(GJH)-2015-6-138] [REFERRED TO]
VIJAYA BANK VS. SUROJIT DKHAR [LAWS(MEGH)-2017-3-5] [REFERRED TO]
KOTAK MAHINDRA BANK LIMITED VS. T. K. KARTHIKEYAN [LAWS(MAD)-2023-7-115] [REFERRED TO]
HDFC BANK LTD VS. DISTRICT MAGISTRATE AND OTHERS [LAWS(P&H)-2019-7-385] [REFERRED TO]
NELSON RAJESEKARAN S/O LATE S J WILSON VS. UNION BANK OF INDIA, ARMB, CHENNAI [LAWS(MAD)-2019-8-26] [REFERRED TO]
JANTA PLY N GLASS VS. AUTHORISED OFFICER, DENA BANK, PATNA BRANCH; BRANCH MANAGER, HDFC BANK LTD [LAWS(PAT)-2016-9-69] [REFERRED]
HARITA INDUSTRIES VS. CENTRAL BANK OF INDIA [LAWS(TLNG)-2019-8-11] [REFERRED TO]
M/S. VEENA TEXTILES LIMITED VS. THE AUTHORISED OFFICER [LAWS(MAD)-2014-8-1] [REFERRED TO]
HEMRAJ RATNAKAR SALIAN VS. HDFC BANK LTD. [LAWS(SC)-2021-8-34] [REFERRED TO]
BAJARANG SHYAMSUNDER AGARWAL VS. CENTRAL BANK OF INDIA [LAWS(SC)-2019-9-28] [REFERRED TO]
ASHISH MITTAL VS. BANK OF BARODA [LAWS(MPH)-2016-8-44] [REFERRED TO]
SATISH KUMAR RATHORE VS. STATE OF M.P. AND OTHERS [LAWS(MPH)-2018-3-386] [REFERRED TO]
AJAY JAIN & ORS. VS. STATE BANK OF INDIA & ORS. [LAWS(MPH)-2018-3-59] [REFERRED TO]
PRAKASH AGRAWAL AND OTHERS VS. STATE BANK OF INDIA AND ORS. [LAWS(MPH)-2018-5-166] [REFERRED TO]
SUNDARESHAN VS. ICICI BANK LIMITED [LAWS(KER)-2014-6-5] [REFERRED TO]
KELUKUTTY P.M. AND ORS. VS. YOUNG MENS CHRISTIAN ASSOCIATION AND ORS. [LAWS(KER)-2016-1-52] [REFERRED TO]
THREE LINE PROPERTIES VS. V.K. SREERAM MADHAVAN AND ORS. [LAWS(KER)-2015-7-35] [REFERRED TO]
SAINOV SPIRITS PVT. LTD. VS. STATE OF U.P. [LAWS(ALL)-2019-2-198] [REFERRED TO]
SEATING WORLD EXTENSION VS. STATE BANK OF INDIA [LAWS(TLNG)-2019-12-84] [REFERRED TO]
STATE BANK OF INDIA VS. RAJESH KHETAN [LAWS(PAT)-2017-1-126] [REFERRED TO]
UNITED BANK OF INDIA AND ORS. VS. PRADEEP BASNET AND ORS. [LAWS(SIK)-2015-8-7] [REFERRED TO]
BALKRISHNA RAMA TARLE DEAD THR LRS VS. PHOENIX ARC PRIVATE LIMITED [LAWS(SC)-2022-9-127] [REFERRED TO]
COMMITTEE OF MANAGEMENT DOON VALLEY OFFICERS CO-OPERATIVE HOUSING SOCIETY LTD VS. STATE OF UTTARAKHAND [LAWS(UTN)-2021-5-6] [REFERRED TO]
NUNE MUNTHALA RAMA LAKXMI VS. CANARA BANK RORMERLY SYNDICATE BANK [LAWS(TLNG)-2021-1-130] [REFERRED TO]
PALLERLA RAMESH VS. ANDHRA BANK [LAWS(TLNG)-2021-11-140] [REFERRED TO]
ALLAHABAD BANK VS. BANSIDHAR CHAMAN LAL [LAWS(UTN)-2015-5-73] [REFERRED TO]
P.M. KELUKUTTY AND OTHERS VS. YOUNG MENS CHRISTIAN ASSOCIATION AND OTHERS [LAWS(KER)-2016-2-247] [REFERRED TO]
RAJESH ALIKKAL, S/O KUMARAN VS. CHIEF MANAGER, SOUTH INDIAN BANK LTD [LAWS(KER)-2017-2-242] [REFERRED TO]
PUNJAB CHEMICAL INDUSTRIES VS. DISTRICT MAGISTRATE-CUM-DEPUTY COMMISSIONER [LAWS(P&H)-2014-8-105] [REFERRED TO]
ADITYA BIRLA FINANCE LIMITED VS. SHRI CARNET ELIAS FERNANDES VEMALAYAM AND OTHERS [LAWS(MPH)-2018-7-245] [REFERRED TO]
TRILOKCHAND FABRICATION PVT. LTD. VS. STATE OF U.P. [LAWS(ALL)-2024-1-27] [REFERRED TO]
P. KIRANMAI VS. THE BANK OF MAHARASHTRA AND ORS. [LAWS(APH)-2016-1-40] [REFERRED TO]
SHAIKH MOHAMMAD TAUFIQUE VS. CENTRAL BANK OF INDIA [LAWS(BOM)-2021-12-224] [REFERRED TO]
G P ISPAT PRIVATE LIMITED VS. AUTHORIZED OFFICER AND CHIEF MANAGER, STATE BANK O [LAWS(CHH)-2017-8-50] [REFERRED TO]
JIGESHWAR PRASAD DESHMUKH VS. DEV SINGH [LAWS(CHH)-2020-8-92] [REFERRED TO]
DHARMENDRA KUMAR S/O RAM KISHORE BAGHEL VS. DISTRICT MAGISTRATE RAIPUR [LAWS(CHH)-2018-8-27] [REFERRED TO]
KRISHNA BUILDERS AND DEVELOPERS AND ANOTHER VS. SHRIRAM HOUSING FINANCE LIMITED AND ANOTHER [LAWS(CAL)-2019-3-29] [REFERRED TO]
STATE BANK OF INDIA VS. RAMKRISHNA BUILDERS [LAWS(CAL)-2015-7-2] [REFERRED TO]
AUROSHIKHA VINIMAY PVT. LTD VS. KAI COMMERCIAL PVT. LTD [LAWS(CAL)-2015-12-57] [REFERRED TO]
PATEL PIYUSHKUMAR RANCHHODBHAI VS. BANK OF BARODA [LAWS(GJH)-2018-2-96] [REFERRED TO]
GIRISHBHAI DEVSIBHAI GAJIPARA VS. AXIS BANK LTD. [LAWS(GJH)-2019-2-380] [REFERRED TO]
INDIA SME ASSET RECONSTRUCTION ... VS. THE STATE OF MADHYA PRADESH [LAWS(MPH)-2017-12-54] [REFERRED TO]
KELUKUTTY P.M. AND ORS. VS. YOUNG MENS CHRISTIAN ASSOCIATION AND ORS. [LAWS(KER)-2016-2-125] [REFERRED TO]
ADITYA BIRLA FINANCE LIMITED VS. CARNET ELIAS FERNANDES VEMALAYAM AND OTHERS [LAWS(MPH)-2018-7-74] [REFERRED TO]
AGME MARKETING PRIVATE LIMITED VS. CANARA BANK [LAWS(ALL)-2019-7-249] [REFERRED TO]
SHAKUNTALA DEVI JAN KALYAN SAMITI VS. STATE OF U.P. [LAWS(ALL)-2020-1-381] [REFERRED TO]
KUMKUM TENTIWAL VS. STATE OF U P AND 3 OTHERS [LAWS(ALL)-2018-12-67] [REFERRED TO]
ABDUL KHADER VS. SADATH ALI SIDDIQUI & ANOTHER [LAWS(KAR)-2021-11-107] [REFERRED TO]
MOHAN BHANDAR VS. VIJAYA BANK KUVEMPUNAGAR BRANCH [LAWS(KAR)-2018-7-508] [REFERRED TO]
SHIJU MANI VS. CSB [LAWS(KER)-2024-2-16] [REFERRED TO]
SAI HEMAJA AEROBRICKS PVT. LIMITED VS. STATE BANK OF INDIA [LAWS(TLNG)-2024-1-44] [REFERRED TO]
M/S BBR ENTERPRISES VS. CENTRAL BANK OF INDIA [LAWS(TLNG)-2021-1-132] [REFERRED TO]
V. JUVALAMUKHI AND ORS. VS. THE DISTRICT MAGISTRATE-CUM-DISTRICT COLLECTOR, COIMBATORE AND ORS. [LAWS(MAD)-2015-11-45] [REFERRED TO]
J MUSTHAQ ALI VS. INTERNATIONAL ASSET RECONSTRUCTION COMPANY PVT LTD , CHENNAI AND OTHERS [LAWS(MAD)-2015-1-334] [REFERRED]
E. RAVINDRAN VS. THE CHIEF METROPOLITAN MAGISTRATE, EGMORE AND ORS. [LAWS(MAD)-2015-7-98] [REFERRED TO]
TELESAT MEDIA MATRIX PVT. LTD. VS. THE CHIEF METROPOLITAN MAGISTRATE, EGMORE AND ORS. [LAWS(MAD)-2015-7-216] [REFERRED TO]
NAINITAL BANK LTD VS. NAVEEN KISAN RICE MILL AND OTHERS [LAWS(UTN)-2019-1-18] [REFERRED TO]
JAGDAMBA LIQUIFIED STEELS LIMITED VS. STATE OF UTTARAKHAND [LAWS(UTN)-2023-10-12] [REFERRED TO]
SH. ANIL KUMAR SOTWAL VS. THE DISTRICT MAGISTRATE CUM DISTRICT COLLECTOR [LAWS(RAJ)-2018-2-55] [REFERRED TO]
CHUNDRI GHAR TEXTILES VS. STATE OF RAJASTHAN [LAWS(RAJ)-2019-4-208] [REFERRED TO]
MADHUSUDHAN V. VS. BHARATH CO-OPERATIVE BANK (MUMBAI) LTD. AND OTHERS [LAWS(KAR)-2016-3-315] [REFERRED TO]
STATE BANK OF INDIA AND ORS. VS. VIVEK KUMAR KEJRIWAL [LAWS(CAL)-2016-2-15] [REFERRED TO]
MODINASAB INDIKAR VS. BOARD OF DIRECTORS OF INDIAN OVERSEAS BANK [LAWS(BOM)-2020-2-223] [REFERRED TO]
HARESHBHAI BABUBHAI SAVANI VS. ICICI HOME FINANCE CO. LTD. & ORS. [LAWS(GJH)-2016-11-24] [REFERRED TO]
RAVINDRADEV VISHNUDEV TAILANG VS. BANK OF INDIA - THROUGH AUTHORIZED OFFICER & 1 [LAWS(GJH)-2017-2-37] [REFERRED TO]
MAHENDRASINH BHARATSINH CHUDAVAT VS. COSMOS COOPERATIVE BANK LTD [LAWS(GJH)-2017-2-185] [REFERRED TO]
CHIEF MANAGER, BANK OF BARODA VS. AMIT PANDEY [LAWS(JHAR)-2019-2-201] [REFERRED TO]
PUNJAB AND SIND BANK AND ANOTHER VS. DISTRICT MAGISTRATE [LAWS(P&H)-2017-7-188] [REFERRED TO]
PUTRI VS. DISTRICT MAGISTRATE, HARIDWAR AND ORS [LAWS(UTN)-2016-12-35] [REFERRED TO]
M. EZHILMARAN VS. K. KARUNANIDHI [LAWS(MAD)-2021-12-101] [REFERRED TO]
ASSET RECONSTRUCTION COMPANY (INDIA) LTD VS. DISTRICT MAGISTRATE/ DISTRICT COLLECTOR THIRUVALLUR, THIRUVALLUR DISTRICT [LAWS(MAD)-2020-9-763] [REFERRED TO]
SMT. VIJAYALAKSHMI VS. THE AUTHORISED OFFICER, KOTAK AUTHORISED BANK LIMITED, BANASHANKARI THIRD STAGE, BANGALORE AND OTHERS [LAWS(KAR)-2016-8-68] [REFERRED TO]
RAFIQ TRADERS VS. DISTRICT MAGISTRATE [LAWS(ALL)-2020-10-46] [REFERRED TO]
M/S N.C.M.L. INDUSTRIES LTD VS. DEBTS RECOVERY TRIBUNAL [LAWS(ALL)-2018-2-59] [REFERRED TO]
N.C.M.L. INDUSTRIES LTD. VS. DEBTS RECOVERY TRIBUNAL, LUCKNOW AND OTHERS [LAWS(ALL)-2018-2-684] [REFERRED TO]
VALLUVAR GUIDE TECHNICAL TRAINING COLLEGE VS. M. DINAKARAN AND ORS. [LAWS(MAD)-2016-2-60] [REFERRED TO]
DECCAN CHRONICAL HOLDINGS LIMITED VS. CANARA BANK [LAWS(MAD)-2015-6-53] [REFERRED TO]
TOMY MATHEW VS. UNION OF INDIA REP BY SECRETARY [LAWS(KER)-2017-3-163] [REFERRED TO]
KANAKALATHA VS. HOUSING DEVELOPMENT FINANCE CORPORATION LTD [LAWS(KER)-2014-8-880] [REFERRED TO]
VIMALA BHUSHAN VS. AUTHORISED OFFICER YES BANK LIMITED [LAWS(KAR)-2019-1-168] [REFERRED TO]
PRAKASH SINGH VS. ORIENTAL BANK OF COMMERCE [LAWS(CAL)-2020-2-186] [REFERRED TO]
SELVA BAKYARAJ, MANAGING DIRECTOR, SUNRISE CHENNAI DISTRIBUTORS PVT LTD VS. IDBI BANK LIMITED, REP BY ITS DEPUTY GENERAL MANAGER/AUTHORIZED OFFICER, CHENNAI [LAWS(MAD)-2018-11-86] [REFERRED TO]
MOHAN SUNDARAM VS. PUNJAB NATIONAL BANK [LAWS(KER)-2022-12-216] [REFERRED TO]
SRI BALAJI CENTRIFUGAL CASTINGS VS. ICICI BANK LIMITED [LAWS(APH)-2018-7-9] [REFERRED TO]
RAMJIBHAI KARSHANBHAI DODIYA VS. DISTRICT MAGISTRATE [LAWS(GJH)-2018-12-76] [REFERRED TO]
DEVANI JAGDISHBHAI DAHYABHAI(THIRD PARTY) VS. DISTRICT MAGISTRATE SURAT [LAWS(GJH)-2018-12-26] [REFERRED TO]
NATIONAL LAMINATE CORPORATION MUMBAI VS. EURO MERCHANDISE (INDIA) PVT LTD [LAWS(BOM)-2015-10-205] [REFERRED TO]
ATUL DAULATRAI DESAI VS. STATE OF MAHARASHTRA & OTHERS [LAWS(BOM)-2016-7-238] [REFERRED TO]
SRI AMBIKA SOLVEX LTD VS. STATE BANK OF INDIA AND OTHERS [LAWS(MPH)-2015-12-75] [REFERRED]
A INDIRANI VS. BRANCH MANAGER STATE BANK OF INDIA [LAWS(MAD)-2017-1-369] [REFERRED TO]
VISTA INDUSTRIES PVT. LTD. VS. SHEENA EXPORTS [LAWS(P&H)-2016-6-8] [REFERRED TO]
R. VELUSAMY VS. THE CHIEF MANAGER & THE AUTHORISED OFFICER ASSET RECOVERY DEPARTMENT BANK OF INDIA [LAWS(MAD)-2016-2-87] [REFERRED TO]
TAMIL NADU MERCANTILE BANK LTD., MADURAI VS. DISTRICT COLLECTOR, SIVAGANGAI AND ORS. [LAWS(MAD)-2016-1-191] [REFERRED TO]
HINDUSTAN PETROLEUM CORPORATION LTD. VS. UNION OF INDIA [LAWS(ALL)-2023-4-5] [REFERRED TO]
DARLY SHAJAN VS. SHAJAN THOMAS [LAWS(KER)-2016-7-131] [REFERRED TO]
SIVAN V.R. VS. AUTHORISED OFFICER, FEDERAL BANK LTD. AND ORS. [LAWS(KER)-2014-12-135] [REFERRED TO]
PRADEEP KUMAR S/O SHRI LALCHAND POONIA VS. STATE OF RAJASTHAN [LAWS(RAJ)-2019-3-49] [REFERRED TO]
AJAY KUMAR & ANOTHER VS. KASHIPUR URBAN CO-OPERATIVE BANK LTD & ANOTHER [LAWS(UTN)-2018-7-26] [REFERRED TO]
RAGHAVAN MURALIDHARAN VS. LYNDON CHRISTOPHER ANGELO [LAWS(KAR)-2016-3-386] [REFERRED]
M/S. BUHARIYA TRADERS VS. THE CHIEF METROPOLITAN MAGISTRATE [LAWS(MAD)-2017-9-173] [REFERRED TO]
DIMENSION REALTORS PRIVATE LIMITED AND ANOTHER VS. DISTRICT MAGISTRATE, NORTH 24 PARGANAS AND OTHERS [LAWS(CAL)-2015-9-104] [REFERRED TO]
VIJAY TIMBER INDUSTRIES PRIVATE LIMITED VS. DISTRICT COLLECTOR [LAWS(GJH)-2017-12-339] [REFERRED TO]
AUROVILL APPLIANCES PVT LTD VS. DISTRICT MAGISTRATE [LAWS(GJH)-2015-10-4] [REFERRED TO]
DOMMATI PRASHANTHI VS. INDIAN BANK, WARANGAL AND OTHERS [LAWS(APH)-2018-2-8] [REFERRED TO]
SALUJA MOTORS PVT LTD VS. DISTRICT MAGISTRATE AND OTHERS [LAWS(HPH)-2016-7-328] [REFERRED TO]
PRALEEN CHOPRA VS. DEWAN HOUSING FINANCE CORPORATION PVT. LTD. [LAWS(DLH)-2014-12-407] [REFERRED TO]
ARUNA KAMAL SINGH VS. BANK OF BARODA [LAWS(BOM)-2021-12-199] [REFERRED TO]
MAHESH SACHDEV S/O LATE DWARKA DAS SACHDEV VS. STATE OF CHHATTISGARH AND ORS [LAWS(CHH)-2016-4-47] [REFERRED]


JUDGEMENT

- (1.)Leave granted.
Facts:

(2.)The appellants claim to be tenants of different premises in Mumbai. These premises were mortgaged to different banks as securities for loans advanced by the banks (hereinafter referred to as 'the secured creditors'). As the borrowers have defaulted in repayment of their secured debts or instalments thereof and their accounts in respect of such debts have been classified by the secured creditors as nonperforming assets, the secured creditors have issued notices of 60 days period under sub-section (2) of Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act') to the borrowers saying that they intend to enforce the secured assets in the event of non-payment of the secured debts. As the borrowers have failed to discharge their liability in full within the period of sixty days from the date of notice, the secured creditors have exercised their right under sub-section (4) of Section 13 of the SARFAESI Act to take possession of the secured assets of the borrowers. The secured assets, however, consist of the premises under possession of the appellants. The secured creditors have, therefore, made a request under Section 14(1) of the SARFAESI Act to the Chief Metropolitan Magistrate, Mumbai, to take possession of the premises and handover the possession of the premises to the secured creditors in accordance with the provisions of Section 14 of the SARFAESI Act. Threatened by dispossession of the premises under their possession by the Chief Metropolitan Magistrate, Mumbai, under Section 14 of the SARFAESI Act, the appellants have moved this Court in this batch of cases. Their case is that they are not borrowers, but they are lessees of the borrowers and are entitled to remain in possession of the secured assets. A Division Bench of the Bombay High Court in M/s Trade Well, a Proprietorship Firm, Mumbai & Anr. v. Indian Bank & Anr., 2007 CrLJ 2544] has, however, held that when a secured creditor takes measures under subsection (4) of Section 13 of the SARFAESI Act on account of failure of the borrower to repay his liability and approaches the Chief Metropolitan Magistrate for assistance to take possession of the secured assets, the liability of the borrower having been crystallized, there can be no adjudication by the Chief Metropolitan Magistrate and possession has to be taken by a nonadjudicatory process and there is no question of pointing out to the Chief Metropolitan Magistrate at that stage that the person who is to be dispossessed is a tenant. The Division Bench of the Bombay High Court has further held in M/s Trade Well that the remedy of the borrower as well as a third-party is to file an application under Section 17 of the SARFAESI Act before the Debts Recovery Tribunal and in case the borrower or a third-party succeeds, the Debts Recovery Tribunal can restore possession of the secured assets to the borrower or a third-party. This view taken by the Bombay High Court in M/s Trade Well has been followed in the impugned judgment dated 20.08.2011 of the High Court passed in the case of International Assets Reconstruction Company Limited v. Union of India & Ors. The grievance of the appellants is that if the impugned judgment of the High Court is implemented, the appellants have no option but to surrender possession to the Chief Metropolitan Magistrate, Mumbai, and move the Debts Recovery Tribunal under Section 17 of the SARFAESI Act. Such a remedy, according to the appellants, is not actually available under Section 17 of the SARFAESI Act and if the remedy is available, it is meaningless as they have to move out from the tenanted premises and only in the event the Debts Recovery Tribunal decides in favour of the appellants, they may come back to the tenanted premises. Aggrieved by the impugned judgment, they have, therefore, filed these appeals by way of special leave under Article 136 of the Constitution. Contentions of the learned counsel for the appellants:
(3.)Mr. C.A. Sundaram, learned senior counsel appearing for the appellants, submitted that under Article 300A of the Constitution, every person has a constitutional right not to be deprived of his property save by authority of law. He submitted that a tenant is a lessee and has a right to be in possession of the property of the lessor during the period of the lease and this right cannot be taken away save by authority of law. He submitted that there is nothing in the provisions of the SARFAESI Act, and in particular Section 13 of the said Act, to show that this right of a lessee to remain in possession of the secured asset during the period of the lease stands extinguished when the secured creditor initiates action under Section 13 of the SARFAESI Act. He submitted that the language of sub-section (13) of Section 13 of the SARFAESI Act, however, shows that no borrower shall, after receipt of notice under sub-section (2) of section 13, transfer by way of sale, lease or otherwise any of his secured assets referred to in the notice, without the prior written consent of the secured creditor. He submitted that this provision in the SARFAESI Act is a clear indication that a lease of a secured asset by the borrower before receipt of a notice by him under subsection (2) of Section 13 of the SARFAESI Act was not prohibited under the said Act. He submitted that in the absence of any express language in the SARFAESI Act affecting a lease of a secured asset made by the borrower in favour of a lessee, the lease continues to be a valid lease even after the secured creditor initiates action under Section 13 of the SARFAESI Act.


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