M/S. Walia Realtors Pvt. Ltd. v. State Bank Of India

920-wpl-1550-2015

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO.1556 OF 2015 M/s. Walia Realtors Private Limited ...

Petitioner vs.

State Bank of India ...

Respondent Mr. Mannadiar i/b. Munish P. Gitay, for the Petitioner. Mr. J.B. Navlani a/w. Kusumakar Kaushik, for the Respondent-SBI. CORAM :

R. K. DESHPANDE & DR. SHALINI PHANSALKAR JOSHI, JJ.

(VACATION COURT) DATE : 27TH MAY, 2015.

P.C. :

.

The learned counsel appearing for the Respondent makes statement that the relevant documents shall be tendered to the Petitioner at the end of this week. The learned counsel for the Petitioner submits that within a period of two weeks thereafter security shall be furnished in respect of all the three accounts of the entire amount of 100 and odd crores.

2.

In view of this, the Respondent shall not take possession of the property.

Vishal 1/2

920-wpl-1550-2015 3.

If the Petitioner fails to furnish the security as has been undertaken before this Court within the time stipulated, the interim order shall stand automatically vacated without further reference to the Court. 4.

If the security is furnished the interim order shall continue till the disposal of the securitization application. 5.

The Debt Recovery Tribunal shall expeditiously dispose of the Petition.

6.

Writ Petition stands disposed of.

(DR. SHALINI PHANSALKAR JOSHI, J.) (R.K. DESHPANDE, J.) Vishal 2/2