Prakash Jagannath Ladwanjari And ANR v. Kotak Mahindra Bank Limited And ANR

1 910-WP8117-19.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BENCH AT AURANGABAD WRIT PETITION NO. 8117 OF 2019 PRAKASH JAGANNATH LADWANJARI AND ANOTHER

VERSUS

KOTAK MAHINDRA BANK LIMITED AND ANOTHER Mr. B. S. Mundhe, Advocate for Petitioners.

Mr. V. M. Kagne, AGP for respondents/State.

CORAM :

S. V. GANGAPURWALA & MANGESH S. PATIL, JJ DATED : 4th JULY, 2019.

PER COURT:- 1.

The petitioners are challenging the notice dated 28.03.2019 issued under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (for short "SARFAESI Act, 2002"). The petitioners have right to file an objection which is required to be decided and if no further action is taken under Section 13 (2) of the SARFAESI Act, 2002, then the petitioners have remedy under section 17 of the SARFAESI Act, 2002 before the committee.

2.

In light of the above, we are not inclined to entertain the present Writ Petition. Writ Petition is disposed of with liberty to the petitioners to avail the remedy as permissible in law, if the occasion arises. No costs. ( MANGESH S. PATIL ) ( S. V. GANGAPURWALA ) JUDGE JUDGE P.S.B.