Pagoda Cables Private Limited v. State Bank Of India & ORS.

$~5 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 15188/2025 C.M. APPL. APPL. 62254/2025, C.M. APPL. APPL. 62680/2025, C.M. APPL., APPL 62255/2025 PAGODA CABLES PRIVATE LIMITED .....Petitioner Through:

Mr. Avi Singh, Senior Advocate with Ms. Vidhi Kapoor and Mr. Abhigyan, Advocates. versus STATE BANK OF INDIA & ORS.

.....Respondent Through:

Mr. Sanjiv Kakra, Senior Advocate with Mr. Bheem Sain Jain and Mr. Akash Madan, Advocates for R1.

Ms. Udita Singh, Advocate for R3.

Mr. Sahil Sharma, Advocate for R4.

CORAM:

HON'BLE MS. JUSTICE JYOTI SINGH

O R D E R

% 02.12.2025 1.

This writ petition is filed on behalf of the Petitioner under Article 226 of the Constitution of India seeking the following reliefs:- "a) Allow the instant Writ Petition ;

b) Quash the E-Auction proceedings conducted by the Respondent No. 1 on 25.09.2025 in terms of Auction Notice dated 03.09.2025; c) Direct the Respondent No. 1 to permit the Petitioner herein to participate in the further auction proceedings for the sale of Asset in question or in the alternative;

d) Permit inter-se bidding between the highest bidder (if any) and the Petitioner herein.

e) Pass any such other and further order(s) as this Hon'ble Court may The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

deem fit and proper in the interest of justice, in favor of the Petitioner and against the Respondents."

2.

Mr. Sanjiv Kakra, learned Senior Counsel for Respondent No.1/SBI takes a preliminary objection to the maintainability of this writ petition and cites judgments of the Supreme Court holding that the High Courts exercising jurisdiction under Article 226 of the Constitution of India should not interfere in SARFAESI matters.

3.

Learned Senior Counsel for the Petitioner, after going through the judgments, on instructions, seeks to withdraw this writ petition to take recourse to appropriate remedies under the SARFAESI Act, 2002. It is, however, urged that by order dated 09.10.2025, Court had directed Respondent to maintain status quo with regard to any further step that needs to be taken pursuant to the e-auction conducted by Respondent No.1 on 25.09.2025 in terms of Auction Notice dated 03.09.2025 and since the interim order has continued till date, the same be continued till the Petitioner takes recourse to appropriate remedy.

4.

In light of the preliminary objection raised by Respondent No.1 to the maintainability of this writ petition, this petition is disposed of as withdrawn with liberty to the Petitioner to take recourse to appropriate remedy available under the SARFAESI Act. In case the Petitioner avails the remedy within two weeks from today, interim order dated 09.10.2025 will continue to operate till consideration of the matter by the appropriate forum, whereafter it will be open to the concerned Tribunal to continue, vacate, modify or vary the order, after hearing the parties and in accordance with law. 5.

It is made clear that this Court has not expressed any opinion on the merits of this case and all rights and contentions of the parties are left open. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

6.

Pending applications stand disposed of.

JYOTI SINGH, J DECEMBER 2, 2025/YA The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.