M/S. Elkon Pvt. Ltd. And ORS v. The Branch Manager The Bank Of India And ORS

Priya Soparkar 506 wpst 31569-19 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION (ST.) NO.31569 OF 2019 M/s Elkon Pvt. Ltd. and ors.

... Petitioners V/s.

The Branch Manager, The Bank of India and ors.

... Respondents --- Mr.Sachin Dhakephalkar i/by Ms.S.A.Vast, Advocate for the Petitioner.

Mr.Anant B. Shinde, Advocate for Respondent Nos.1 and 2.

--- CORAM : UJJAL BHUYAN, J.

DATE : DECEMBER 20, 2019.

P.C.:- Not on board. Taken on board.

1.

Heard Mr.Sachin Dhakephalkar, learned counsel for the petitioners and Mr.A.B.Shinde, learned counsel for respondent Nos.1 and 2.

2.

This petition has been filed for quashing of order dated 28th August, 2019 passed by the Chief Metropolitan Magistrate, Esplanade, Mumbai in Securitization

Priya Soparkar 506 wpst 31569-19 Application No.163/SA/2019 as well as notice dated 25th November, 2019 issued by respondent No.3.

3.

Learned counsel for respondent Nos.1 and 2 submits that possession of the mortgaged property of the petitioners have been taken over by respondent Nos.1 and 2 under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

4.

That being the position, petitioners may avail the remedy under the aforesaid Act.

5.

Writ Petition is disposed of.

(UJJAL BHUYAN, J.) ....