TOUGH INTERNATIONAL PVT LTD Vs. IDBI BANK LTD & ANR
LAWS(RAJ)-2014-3-349
HIGH COURT OF RAJASTHAN
Decided on March 21,2014

Tough International Pvt Ltd Appellant
VERSUS
Idbi Bank Ltd And Anr Respondents

JUDGEMENT

- (1.) By this writ petition, a challenge is made to the order dated 2.4.2012 passed under section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act of 2002').
(2.) While the writ petition was argued for issuance of notice on 19.9.2013, following order was passed - "One of the contention of petitioner is that after the representation was submitted by him pursuant to the notice served u/S.13(2) of SARFAESI Act, 2002 which is still pending before the authority, no communication has been made to him but at this stage the proceedings have been initiated by the respondent-Bank u/S.14 of the Act and there is full possibility that the Bank may now proceed u/S.13(4) of the Act, 2002. Issue notice along with the copy of this order to the respondents as to why the petition may not be disposed of. Notices of stay application may also be issued. Notices be given 'dasti', if desired."
(3.) The perusal of the order shows a statement on behalf of the petitioner that pursuant to the notice under section 13(2) of the Act of 2002, matter is pending before the authority as no communication has been received and, at this stage, proceedings have been initiated by the bank under section 14 of the Act and there is possibility that the bank may take action under section 13(4) of the Act. The statement of fact was made despite the order already passed under section 14 of the Act of 2002 on 2.4.2012 thus was not pending rather challenged by the petitioner. The prayer No.1 of the writ petition is quoted hereunder to show specific challenge to the order dated 2.4.2012 at annexure-11 passed under section 14 of the Act of 2002- "quash and set aside the order passed by District Magistrate, Jaipur on April 02, 2012 whereby directing the respondents to take possession of the petitioner's property.";


Click here to view full judgement.
Copyright © Regent Computronics Pvt.Ltd.