- (1.) This writ petition is yet another glaring example of the abuse of the process of law and 'Forum-Shopping' by an unscrupulous litigant. A brief reference to the genesis of this petition would reveal so.
(2.) Petitioner No. 1 is a proprietorship firm; petitioner No. 2 is a Public Limited Company and petitioner No. 3 is a Private Limited Company. The latter two have been incorporated under the Companies Act, 1956. The proprietorship firm as well as the other two Companies are family affairs of petitioners No. 4 and 5 and their associates. Petitioners No. 1 to 3 had failed to repay the loan advanced by the Punjab National Bank, hence action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest SARFAESI Act, 2002 was initiated against them. The Bank decided to auction some of the amount. The petitioners made successive attempts through writ petitions one after the other to stall the auctioning of their properties. We say so for the reason that firstly, the second petitioner M/s LVM Exim Limited came to this Court in CWP No. 24304 of 2012, interalia, claiming that the Debts Recovery Tribunal was not deciding its appeal under Section 7 of the SARFAESI Act initiated against the notice under Section 132 of that Act. The writ petition was disposed of with a direction to the Tribunal to decide the issues raised by the petitioners, but without any bearing of that direction on the settlement/compromise proceedings, if any, pending between the parties.
(3.) Petitioner No. 5 thereafter filed CWP No. 976 of 2014 questioning the Auction Notice in respect of the land measuring 750 square yards owned jointly by petitioner No. 3 M/s Capricon Alloys Private Limited and petitioner No. 4 Navneet Aggarwal, The writ petition was dismissed as withdrawn on 21.01.2014 when this Court took notice of the fact that these very facts had been mentioned earlier also in CWP No. 24304 of 2012.;