Shree Sharda Industries Pvt. Ltd. Through Its Director Mr. Sanjay Jhunjhunwala v. The State Of Maharashtra Through The Govt. Pleader And ORS

1.wp.1242.2015.doc dik

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 1242 OF 2015 Sharda Industries Pvt. Ltd.

...Petitioner

vs The State of Maharashtra & Ors.

...Respondents.

.....

Mr Ghanshyam Upadhay a/w Mr Kamlesh Mishra i/b Law Juris for the Petitioner Mr Sanjay Jain a/w Sunil M. Kadam for Respondent No.3. .....

CORAM : ANOOP V. MOHTA A.S.GADKARI, JJ.

19 DECEMBER, 2016 ORDER :

On hearing the parties, we are inclined to dispose of the present Writ Petition, as against the order under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the alternate remedy is available to the Petitioner to adjudicate the issue so raised. Even otherwise, there is no point in keeping this Writ Petition pending in this Court, as it is in the interest of all, the issue so raised revolve around "One Time Settlement (OTS)" is decided by the authorities in accordance with law.

This Court on 5 February, 2015 ordered not to take Pg 1 of 2

1.wp.1242.2015.doc possession and the same has been in force till date. Therefore, to avoide further complications we are extending the same protection for further three weeks. Liberty is granted to the Petitioner to apply for appropriate orders, if any. The concerned authorities shall deal with the application, in accordance with law. All contentions are kept open. The Writ Petition is disposed of accordingly. ( A. S. GADKARI, J ) ( ANOOP V. MOHTA, J. ) Pg 2 of 2