Union Of India Through The Assistant Director, v. M/S. Stressed Assets Stabilization Fund (Sasf) And ANR.

Rajeshri Aher 1/2 9 caf 1337 of 2019.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO. 1337 OF 2019 IN FIRST APPEAL NO. 368 OF 2019 Union of India Thr. The Assistant Director ...Applicant In the matter between Union of India Thr. The Assistant Director ...Appellant

Versus

M/s. Stressed Assets Stabilization Fund (SASF) And Ors.

...Respondents

....

Mr. Ashish Chavan a/w Mr. D.P. Singh, Mr. Zishan Quazi, Mr. Jayesh Bhosale, Mr. Manoj Borkar, Advocates for Applicant. Mr. Nishit Dhruva, Mr. Prakash Shinde, Ms. Niyati Merchant, Mr. Yash Dhruva, Mr. Harsh Sheth, i/b M/s. MDP & Partners, Advocates for Respondent No.1.

....

CORAM

:K. R. SHRIRAM & RAJESH S PATIL, JJ.

DATED :7th FEBRUARY 2023 P.C.:

On 18th April 2019, after the Appeal was admitted, Respondents were restrained from creating third party interest in respect of the mortgaged proprieties which are the subject matter of Digitally signed by RAJESHRI PRAKASH AHER Date:

2023.02.09 15:22:11 +0530 attachment under order dated 19th March 2014. The order has been in RAJESHRI PRAKASH AHER force for almost four years. Mr.Shinde states Respondent No.1 has

Rajeshri Aher 2/2 9 caf 1337 of 2019.doc taken over the mortgage of the properties of Respondent No.3, which is in CIRP process since 14th January 2022.

Therefore, we confirm the order passed on 18th April 2019 and dispose the Civil Application.

We clarify that the order restrains only such properties which are subject matter of attachment under the order dated 19th March 2014. The properties which are not covered under the said order but mortgaged to Respondent No.1 or Resplendent No.2, they may go ahead and dispose the said properties. Appeal to come up for hearing in due course.

(RAJESH S. PATIL, J.) (K. R. SHRIRAM, J.)