Speciality Polymers Private Limited And 3 ORS v. Corporation Bank

(13) WPL 553-18 Amk

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO. 553 OF 2018 Speciality Polymers Pvt. Ltd.

.. Petitioner Vs.

Corporation Bank .. Respondent Mr. Vibhav Krishna a/w Tahir Prande, Devang Lakhotia, Sharath Pai, Parineeta Pai i/b M/s. Juris Consillis for the Petitioners. Mrs. Rathina Maravarman for the Respondent-Bank. CORAM : A. A. SAYED & V. L. ACHLIYA, JJ.

DATE : 26 th FEBRUARY, 2018.

P. C. :

1.

Learned counsel for the Respondent-Bank states that pursuant to the public notice published in the newspaper on 23.01.2018 the auction of the properties i.e. secured assets were to be held on 26.02.2018 (today), however, no bids have been received. We accept the statement. 2.

Inasmuch as the Petitioner has an alternate remedy to approach the Debt Recovery Tribunal, we are not inclined to entertain the Petition. 3.

The Petition to stand disposed of with liberty to the Petitioner to approach the DRT.

[V. L. ACHLIYA, J.] [A. A. SAYED, J.] 1/1