M/S. K.M. Refineries And Infraspace Pvt. Ltd., Thr. Director, Vishnu Prasad K. Sankle And ANR v. Punjab National Bank, Thr. Authorized Officer, Nagpur And Others

2024:BHC-NAG:4536-DB 1 13 wp1237.24.odt

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

NAGPUR BENCH, NAGPUR WRIT PETITION NO.1237/2024 M/s. K.M. Refineries and Infraspace Pvt. Ltd and another V/s Punjab National Bank and others Office Notes, Office Memoranda of Coram, appearances, Court's orders of directions Court's or Judge's order and Registrar's orders.

Ms.Mitisha Kotecha, Advocate for petitioners. Mr. D.P.Thakare, Addl. G.P. for respondent no.2. CORAM : NITIN W. SAMBRE & ABHAY J. MANTRI , JJ .

ATE : APRIL 22 , 202 4.

In view of law laid down by the Apex Court in the matter CELIR LLP Vs. Bafna Motors (Mumbai) Private Limited and others reported in (2024) 2 SCC 1, we are of the view that the petitioners have an alternate remedy, as the petitioners properties are already informed to be put to an auction under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002. 2.

That being so, we refrain from causing indulgence under extraordinary jurisdiction.

3.

The petition accordingly stands dismissed with liberty to approach the Debts Recovery Tribunal.

(ABHAY J. MANTRI, J.) (NITIN W. SAMBRE, J.) Mukund Ambulkar