Saturn Rings And Forgings Pvt. Ltd. And ANR. v. Bank Of India Thru Auth. Officer

903-CAW-654-2019.DOC jsn

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO. 654 OF 2019 IN WRIT PETITION NO.3044 OF 2019 Saturn Rings & Forgings Pvt. Ltd. & Anr.

... Applicants / Petitioners V/s.

Bank of India ... Respondent Mr. Rahul Sharda with Vinod Kothari i/b. M/s. Apex Law Partners for the Petitioners.

Mr. O.A. Das with Sunita Rawat for the Respondent.

CORAM:

A.A.SAYED & R. I. CHAGLA, JJ.

DATE:

13TH MARCH, 2019.

PC:- 1.

By this Civil Application, the Applicant has sought following reliefs:- (a) this Hon'ble Court be pleased to modify the undertaking of the Petitioners recorded in the order dated 27th February, 2019 for period of 4 weeks or such other time as this Hon'ble Court deems fit and proper to voluntarily hand over possession in the absence of any stay order being obtained from the Hon'ble DRAT, Mumbai and further direct the Respondent Bank to defer taking possession of the suit property situated at Survery No.62+65, Mahatma Sahakari Grihrachana Sanstha Maryadit, admeasuring about 363 Sq.mtrs. Approximately, Kothrud, Taluka Haveli, District Pune, along with ownership rights of structure standing thereon; 1/2

903-CAW-654-2019.DOC (b) Pending the hearing and final disposal of the Civil Application the Securitisation measures initiated by the Respondent Bank including taking possession and / or steps in steps in execution there under including be stayed;

(c) For ad-interim reliefs in terms of prayer clause (a) and (b) above:

(d) For costs of this Civil Application; and (e) For such further and other reliefs as the nature and circumstances of the case may require.

2.

We have perused the order dated 27th February, 2019. It is pointed out by learned Counsel for the Petitioners that the copy of the order of the DRT dated 25th February, 2019 was not available till yesterday. Learned Counsel for the Respondent - Bank says that copy of the said order dated 25th February, 2019 has been received by her today.

3.

In the interest of justice, we are inclined to accede to the request of the Petitioners. We direct the Respondent - Bank to defer taking possession of the secured assets until 26th March, 2019.

4.

Civil Application is disposed of accordingly. ( R.I. CHAGLA, J. ) (A.A.SAYED, J.) 2/2