Mukul Sarkar v. Punjab National Bank And ANR

31.01.2025 sb Ct 5

IN THE HIGH COURT AT CALCUTTA

CIVIL REVISIONAL JURISDICTION CO 365 of 2025 Mukul Sarkar

Versus

Punjab National Bank & Anr.

Mr. Ranjan Kali Ms. Mutul Chakraborty Ms. Payel Nath ... For the Petitioner.

1. Challenging the order dated 13th January, 2025, passed by the learned Debts Recovery TribunalIII, Kolkata, rejecting the application, being in IA No. 4928 of 2024, thereby refusing to stay the order dated 9th September, 2024 passed by the learned District Magistrate, North 24-Parganas in an application under Section of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the SARFAESI Act), filed by the Financial Institution, the instant revisional application has been filed.

2. Having heard Mr.

Kali, learned advocate representing the petitioner and noting that an alternative remedy in the form of an appeal is available to the petitioner under Section 18 of the SARFAESI Act, 2002, I am of the view that there is no scope to entertain the instant

revisional application, and the same is accordingly dismissed.

3. Since the aforesaid revisional application is dismissed on the ground of alternative remedy without going into the merits of the case, the same shall not impede upon the petitioner's right to apply before the learned Appellate Tribunal.

4. In the event, the petitioner applies before the learned Appellate Tribunal within a period of ten days from date, such application shall be taken into consideration and be decided by the learned Appellate Tribunal in accordance with law, and on merits.

5. The parties shall act on the basis of the server copy of this order duly downloaded from the official website of this Court.

(Raja Basu Chowdhury, J.)