M/S. Balaji Cars Pvt. Ltd. And ORS. v. Religare Finvest Ltd

1/2 21.IA.1501.2021(U) .doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION INTERIM APPLICATION NO. 1501 OF 2021 IN WRIT PETITION (ST) NO. 99008 OF 2020 M/s. Balaji Cars Pvt. Ltd & Ors.

... Applicants

IN THE MATTER BETWEEN

Religare Finvest Ltd ... Petitioner Vs The State of Maharashtra & Ors.

... Respondents Adv. Faran Khan a/w. Adv. Mittal Munoth i/b. Kookada & Associates for the Applicants.

Mr. Siddhart Samantary a/w. Rakesh L. Singh i/b. M. V. Kini & Co. for the Petitioner.

Smt. A. A. Purav, AGP for the Respondent-State CORAM :

A. A. SAYED & V. G. BISHT, JJ DATED :

15th JULY, 2021 P.C.:

The Interim Application is taken out in the Writ Petition which is already disposed of. It is submitted by learned Counsel for the Applicants that the physical possession of the secured asset which was scheduled to be taken today, is presently in the process of being taken over and urgent reliefs to protect the possession of the secured asset may be granted.

2.

Learned Counsel for the Petitioners has pointed out that on AKN 1/2

2/2 21.IA.1501.2021(U) .doc two occasions earlier, the secured asset was put to auction but the Applicants have not approached the DRT to challenge the same. We are told that the outstanding dues are in the range of Rs.18.00 Crs.

3.

In the facts and circumstances of the case, we are not inclined to grant any reliefs as sought and the only order we pass is that if the physical possession of the secured asset is taken today, no further steps shall be taken by the Petitioners for a period of two weeks so as to enable the Applicants to fle appropriate proceedings before the DRT.

4.

Interim Application to stand disposed of accordingly. We make it clear that we have not gone into the merits of the matter. (V. G. BISHT, J.) (A. A. SAYED, J.) AKN 2/2