Mr. Ravi Kumar Sharma v. Lakshmi Vilas Bank Ltd.

skn 1/2 4575.15-wp.sxw

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 4575 OF 2015 Mr.Ravi Kumar Sharma.

...

Petitioner.

V/s.

Lakshmi Vilas Bank Ltd.

...

Respondent.

Mayur Khandeparkar i/b. Kaikini Phadke & Associate for the petitioner. Sadanand Shetty i/b. Rathia M. for the respondent. CORAM :

NARESH H. PATIL AND V.L. ACHLIYA, JJ.

DATED :

6th May 2015.

P.C.

Heard.

2.

It is submitted that the petitioner is still in possession of the subject three flats. The respondent- bank claims that they have purchased these flats under the process initiated under section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("Securitisation Act" for short). The petitioner has raised certain issues with regard to non-compliance of provisions of Act and Rules. It is submitted that D.R.A.T. was not available and the petitioner is apprehending dispossession at the hands of the respondentbank. In this view of the matter, we direct that status-quo as of today in

skn 2/2 4575.15-wp.sxw respect of subject three flats would be maintained for a period of two weeks from today during which the petitioner would comply with condition of pre-deposit by depositing 25% of the amount in accordance with the provisions of section 18 of the Securitisation Act. 3.

With this observation, petition is disposed of. (V.L. ACHLIYA, J.) (NARESH H. PATIL, J.) Sanjay Nanoskar, P.S..