Shirt Company (India) Pvt. Ltd. v. The Authorised Officer, Deutsche Bank A.G.

901-WPL-1379-19.doc Sharayu Khot.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO. 1379 OF 2019 Shirt Company (India) Pvt.Ltd.

...Petitioner

Versus

The Authorised Officer, Deutsche Bank A.G.

...Respondent

---------- Mr. Sumit Patni, i/by Mr. S. Lanke, for the Petitioner. Mr. Rafeeq Peermohideen, a/w Mr. Ravi Goenka, Mr. Narendra Devvansh, Ms. Anju Mishra, i/by Goenka Law Associates, for the Respondent.

---------- CORAM :

A.A. SAYED & R.I. CHAGLA, JJ.

DATE : 25 April 2019 ORDER :

1.

The Petitioner challenges an order dated 27th March 2019 passed by the Chief Metropolitan Magistrate under Section 1 / 2 April 25, 2019

901-WPL-1379-19.doc 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Petitioner has an efficacious alternate remedy before the D.R.A.T. In the circumstances, we are not inclined to entertain the Petition and also not inclined to grant any relief to defer the taking over of physical possession of the secured asset which is scheduled on 27th April 2019.

2.

The Petition is disposed of. The remedy of the Petitioner before the D.R.T. is kept open.

3.

We record the statement of learned Counsel for the Respondent-Bank that in the event physical possession of the secured asset is taken as scheduled, the Respondent-Bank shall not take any further steps for a period of two weeks thereafter. [R.I. CHAGLA, J.] [A.A. SAYED, J.] 2 / 2 April 25, 2019