M/S. Continental Consortium Chemical Company And ORS. v. Union Of India And ORS.

MONDAY Court : MB-24 Item : AD-17 Status : DISMISSED ID : 266312 AR : NANDY

IN THE HIGH COURT AT CALCUTTA

CONSTITUTIONAL WRIT JURISDICTION APPELLATE SIDE WPA 20509 OF 2025 M/S. CONTINENTAL CONSORTIUM CHEMICAL COMPANY & ORS. VS.

THE UNION OF INDIA & ORS.

MR. SANJIB BANDOPADHYAY, ADVOCATE MR. ANIRBAN PRAMANIK, ADVOCATE ......for the Petitioner MR. DILIP KUMAR KUNDU, ADVOCATE MR. ARJUN BASU, ADVOCATE ......for the Reserve Bank of India MR. SHIV MANGAL SINGH, ADVOCATE ......for the Indian Bank MR. BIMALENDU DAS, ADVOCATE ......for the Respondent Nos. 3 & 4

1. The petitioners challenge the order of 15.07.2025 passed by the Debts Recovery Tribunal-III, Kolkata upholding the action of the Bank in proceeding before the respondent no. 3 under Section 14 of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (the SARFAESI Act). The petitioners submit that since the provisions of deposits before the Appellate Authority, is rather draconian, the petitioners may not be able to fulfill such pre-requisites. Hence the present petition.

2. Since the petitioners admit that they have an alternative remedy before the Debts Recovery Appellate Tribunal to assail the order dated 15.07.2025 impugned herein, passed by the Debts Recovery Tribunal-III, I am not inclined to entertain this writ-petition.

3. Needless to say, the petitioners have the liberty to pursue their remedy before the appropriate forum, in accordance with law.

4. In view of the afore-state, WPA 20509 of 2025 is dismissed.

5. However, there shall be no order as to costs.

6. Urgent Photostat Certified Copy of this order be given to the parties, if applied for.

(REETOBROTO KUMAR MITRA, J.)

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