UMANATH KRISHNAPPA BANGERA Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) Though the matter is listed for orders, with the consent of learned counsel for the parties, matter is taken up for final disposal.

(2.) Petitioner is before this Court challenging the possession notices at Annexures-Y1, Y2 and Y3, all dtd. 10/2/2022 issued under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 [for short 2002 Act] and Rule 8 of the Security Interest [Enforcement] Rules, 2002 [for short 2000 Rules].

(3.) This Court on 9/6/2022 granted interim order staying the possession notices at Annexures-Y1, Y2 and Y3 dtd. 10/2/2022 subject to petitioner depositing a sum of Rs.50,00,000.00 within two weeks.