Sahebrao Ramchandra Gaikwad v. Union Bank Of India And ORS.

1 WP 3427-16.doc-Mentioned, NOB TOB

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO.3427 OF 2016 Sahebrao Ramchandra Gaikwad.

] ... Petitioner

Versus

Union Bank of India and Ors.

] ... Respondents Mr. Amol Mhatre i/b Mr. Dilip B. Shinde for petitioner. Mr. A. I. Patel, AGP for State.

CORAM :- D. H. WAGHELA, C.J., AND M. S. SONAK, J.

DATE :- MARCH 18, 2016 P. C. :- 1.

Not on board. Mentioned. Upon production, taken on board.

2.

Upon the learned Counsel for petitioner being apprised of the alternate remedy available under the The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('said Act'), the learned Counsel for petitioner, on instructions, seeks leave to withdraw this petition. However, he submits that some limited protection be granted in order to enable the petitioner to avail the alternate remedy available under the said Act. URS

2 WP 3427-16.doc-Mentioned, NOB TOB Accordingly, we grant leave to withdraw this petition with liberty as prayed for. Further, we direct that status-quo shall be maintained in respect of the suit property for a period of one week from today. We make it clear that we have not examined the merits of the matter and therefore, the authorities under the said Act will decide the appeal / application which the petitioner may institute, on its own merits and in accordance with law.

3.

This petition is accordingly disposed of in the aforesaid terms.

4.

All concerned to act on basis of authenticated copy of this order.

(CHIEF JUSTICE) (M. S. SONAK, J.) URS